Truist Financial (TFC) Set to Announce Quarterly Earnings on Monday

Truist Financial (NYSE:TFCGet Free Report) will be issuing its quarterly earnings data before the market opens on Monday, April 22nd. Analysts expect the company to announce earnings of $0.79 per share for the quarter. Truist Financial has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

Truist Financial (NYSE:TFCGet Free Report) last announced its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter in the prior year, the firm earned $1.30 earnings per share. On average, analysts expect Truist Financial to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Truist Financial Stock Performance

Shares of TFC opened at $36.77 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $49.07 billion, a price-to-earnings ratio of -34.05, a PEG ratio of 2.27 and a beta of 1.08. The company’s 50 day simple moving average is $36.63 and its 200 day simple moving average is $34.25. Truist Financial has a 1 year low of $25.56 and a 1 year high of $39.29.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.66%. The ex-dividend date was Thursday, February 8th. Truist Financial’s payout ratio is -192.59%.

Wall Street Analyst Weigh In

TFC has been the topic of several recent analyst reports. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Barclays increased their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Wells Fargo & Company increased their price target on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. HSBC increased their price target on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group increased their price target on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average target price of $41.47.

View Our Latest Stock Report on TFC

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hobbs Group Advisors LLC acquired a new stake in shares of Truist Financial in the 4th quarter worth approximately $32,000. Public Employees Retirement System of Ohio lifted its stake in shares of Truist Financial by 7.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 718,419 shares of the insurance provider’s stock worth $26,524,000 after acquiring an additional 51,490 shares during the period. Faithward Advisors LLC acquired a new stake in shares of Truist Financial in the 4th quarter worth approximately $204,000. Peloton Wealth Strategists lifted its stake in shares of Truist Financial by 5.0% in the 4th quarter. Peloton Wealth Strategists now owns 65,300 shares of the insurance provider’s stock worth $2,411,000 after acquiring an additional 3,100 shares during the period. Finally, Townsquare Capital LLC lifted its stake in shares of Truist Financial by 11.9% in the 4th quarter. Townsquare Capital LLC now owns 8,991 shares of the insurance provider’s stock worth $332,000 after acquiring an additional 959 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

About Truist Financial

(Get Free Report)

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

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Earnings History for Truist Financial (NYSE:TFC)

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