Truist Financial (TFC) Soars 8.8%: Is Further Upside Left in the Stock?

Truist Financial Corporation (TFC) shares soared 8.8% in the last trading session to close at $37.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.5% loss over the past four weeks.Truist Financial stock surged amid a broad market rally, spurred by President Donald Trump’s announcement of a 90-day tariff pause for non-retaliating nations. The news boosted investor confidence, fueling a sharp uptick in TFC shares.This company is expected to post quarterly earnings of $0.86 per share in its upcoming report, which represents a year-over-year change of -4.4%. Revenues are expected to be $4.92 billion, up 2.2% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Truist Financial, the consensus EPS estimate for the quarter has been revised 1.6% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on TFC going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Truist Financial is a member of the Zacks Banks - Major Regional industry. One other stock in the same industry, State Street Corporation (STT), finished the last trading session 9.3% higher at $82.32. STT has returned -12.1% over the past month.For State Street, the consensus EPS estimate for the upcoming report has changed -1% over the past month to $1.99. This represents a change of +17.8% from what the company reported a year ago. State Street currently has a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Truist Financial Corporation (TFC): Free Stock Analysis Report State Street Corporation (STT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks