Q1 2024 EPS Estimates for Truist Financial Co. Decreased by Zacks Research (NYSE:TFC)

Truist Financial Co. (NYSE:TFCFree Report) – Research analysts at Zacks Research dropped their Q1 2024 earnings per share estimates for shares of Truist Financial in a report issued on Thursday, February 8th. Zacks Research analyst R. Department now forecasts that the insurance provider will earn $0.75 per share for the quarter, down from their previous estimate of $0.80. The consensus estimate for Truist Financial’s current full-year earnings is $3.39 per share. Zacks Research also issued estimates for Truist Financial’s Q2 2024 earnings at $0.85 EPS, Q3 2024 earnings at $0.82 EPS, Q4 2024 earnings at $0.85 EPS, FY2024 earnings at $3.28 EPS, Q1 2025 earnings at $0.82 EPS, Q2 2025 earnings at $0.95 EPS, Q3 2025 earnings at $0.93 EPS, Q4 2025 earnings at $0.98 EPS and FY2025 earnings at $3.68 EPS.

Truist Financial (NYSE:TFCGet Free Report) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates 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 last year, the business posted $1.30 EPS.

A number of other brokerages have also issued reports on TFC. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Barclays increased their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, January 4th. Evercore ISI increased their price target on Truist Financial from $31.00 to $33.00 and gave the stock an “in-line” rating in a research report on Monday, November 20th. Finally, Morgan Stanley increased their price target on Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Hold” and a consensus target price of $39.87.

View Our Latest Stock Report on Truist Financial

Truist Financial Stock Performance

Shares of TFC stock opened at $36.02 on Monday. The firm has a market capitalization of $48.04 billion, a price-to-earnings ratio of -33.35, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day moving average of $36.50 and a 200 day moving average of $32.17. Truist Financial has a 1 year low of $25.56 and a 1 year high of $49.32.

Institutional Investors Weigh In On Truist Financial

Several institutional investors have recently bought and sold shares of TFC. Vanguard Group Inc. lifted its stake in Truist Financial by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after purchasing an additional 365,871 shares in the last quarter. State Street Corp lifted its stake in Truist Financial by 1.8% in the 2nd quarter. State Street Corp now owns 59,824,259 shares of the insurance provider’s stock worth $1,815,666,000 after purchasing an additional 1,056,703 shares in the last quarter. Geode Capital Management LLC lifted its stake in Truist Financial by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 24,458,354 shares of the insurance provider’s stock worth $740,544,000 after purchasing an additional 526,889 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Truist Financial by 12,034.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock worth $881,700,000 after purchasing an additional 20,321,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Truist Financial by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after purchasing an additional 1,458,248 shares in the last quarter. 71.11% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.77%. The ex-dividend date of this dividend is Thursday, February 8th. Truist Financial’s payout ratio is -192.59%.

Truist Financial Company Profile

(Get Free Report)

Truist Financial Corporation, a holding 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.

Further Reading

Earnings History and Estimates for Truist Financial (NYSE:TFC)

Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.