Truist Financial (TFC) Projected to Post Quarterly Earnings on Friday

Truist Financial (NYSE:TFC) is anticipated to issue its quarterly earnings data before the market opens on Friday, January 17th. Analysts expect the company to announce earnings of $0.88 per share and revenue of $5,047,370.00 billion for the quarter. Truist Financial has set its FY 2024 guidance at EPS and its Q4 2024 guidance at EPS.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. On average, analysts expect Truist Financial to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Truist Financial Stock Up 3.4 %

NYSE TFC traded up $1.49 during trading on Wednesday, hitting $45.40. 7,973,508 shares of the company traded hands, compared to its average volume of 7,133,115. Truist Financial has a 12 month low of $34.23 and a 12 month high of $49.06. The business has a fifty day simple moving average of $45.41 and a 200 day simple moving average of $43.46. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $60.27 billion, a P/E ratio of -31.75, a PEG ratio of 1.88 and a beta of 1.08.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.58%. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Insider Activity

In related news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Stephens reiterated an “overweight” rating and issued a $54.00 price objective on shares of Truist Financial in a research note on Thursday, January 2nd. UBS Group lifted their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. The Goldman Sachs Group lifted their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Compass Point lifted their price objective on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.89.

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.