Truist Financial (TFC) to Release Quarterly Earnings on Monday

Truist Financial (NYSE:TFC) is scheduled to 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. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter in the previous 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 Trading Up 3.1 %

Shares of Truist Financial stock opened at $36.80 on Friday. The firm’s 50 day moving average is $36.64 and its 200 day moving average is $34.44. The firm has a market capitalization of $49.11 billion, a PE ratio of -34.07, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. Truist Financial has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.65%. Truist Financial’s dividend payout ratio is currently -192.59%.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Truist Financial

A number of hedge funds have recently added to or reduced their stakes in the business. Hobbs Group Advisors LLC bought a new stake in Truist Financial in the fourth quarter worth approximately $32,000. Public Employees Retirement System of Ohio increased its holdings in Truist Financial by 7.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 718,419 shares of the insurance provider’s stock worth $26,524,000 after purchasing an additional 51,490 shares in the last quarter. Faithward Advisors LLC bought a new stake in Truist Financial in the fourth quarter worth approximately $204,000. Peloton Wealth Strategists increased its holdings in Truist Financial by 5.0% in the fourth quarter. Peloton Wealth Strategists now owns 65,300 shares of the insurance provider’s stock worth $2,411,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Townsquare Capital LLC increased its holdings in Truist Financial by 11.9% in the fourth quarter. Townsquare Capital LLC now owns 8,991 shares of the insurance provider’s stock worth $332,000 after purchasing an additional 959 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, January 4th. HSBC increased their target price on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Piper Sandler raised their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Finally, Stephens upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $41.00 to $43.00 in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $41.47.

Truist Financial Company Profile

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.