Zacks Research Lifts Earnings Estimates for Truist Financial

Truist Financial Co. (NYSE:TFC) – Zacks Research boosted their Q4 2024 earnings per share estimates for Truist Financial in a report issued on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the insurance provider will post earnings of $0.87 per share for the quarter, up from their prior forecast of $0.85. The consensus estimate for Truist Financial’s current full-year earnings is $3.70 per share. Zacks Research also issued estimates for Truist Financial’s Q2 2026 earnings at $1.08 EPS.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.05 billion.

TFC has been the topic of several other reports. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada increased their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Hold” and an average price target of $46.37.

Truist Financial Price Performance

NYSE:TFC opened at $46.91 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial has a 12-month low of $31.23 and a 12-month high of $47.57. The stock’s 50 day moving average price is $43.56 and its two-hundred day moving average price is $41.45. The firm has a market capitalization of $62.27 billion, a price-to-earnings ratio of -32.80, a P/E/G ratio of 1.92 and a beta of 1.05.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.43%. Truist Financial’s payout ratio is currently -145.45%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. UniSuper Management Pty Ltd lifted its position in shares of Truist Financial by 1,117.2% during the first quarter. UniSuper Management Pty Ltd now owns 23,552 shares of the insurance provider’s stock worth $918,000 after acquiring an additional 21,617 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Truist Financial during the first quarter valued at about $27,000. EntryPoint Capital LLC purchased a new stake in Truist Financial in the first quarter worth approximately $110,000. CreativeOne Wealth LLC bought a new position in shares of Truist Financial during the 1st quarter valued at $516,000. Finally, Capital International Inc. CA lifted its stake in shares of Truist Financial by 23.5% in the 1st quarter. Capital International Inc. CA now owns 67,811 shares of the insurance provider’s stock valued at $2,643,000 after acquiring an additional 12,899 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

About Truist Financial

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.