Truist Financial (TFC) to Release Quarterly Earnings on Monday

Truist Financial (NYSE:TFC) is scheduled to be announcing its earnings results before the market opens on Monday, April 22nd. Analysts expect the company to announce earnings of $0.79 per share for the quarter. Investors that are interested in registering for the company’s 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 earnings per share (EPS) for the quarter, beating 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 negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter last year, the business posted $1.30 EPS. 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 NYSE:TFC opened at $36.80 on Friday. The firm has a fifty day moving average of $36.64 and a two-hundred day moving average of $34.44. The firm has a market capitalization of $49.11 billion, a P/E ratio of -34.07, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. Truist Financial has a 12-month low of $25.56 and a 12-month high of $39.29. The company has a quick ratio of 0.82, a current 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 paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is currently -192.59%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TFC shares. Stephens raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $43.00 in a research note on Tuesday, March 19th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Wells Fargo & Company raised their price target on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Jefferies Financial Group raised their price target on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, Morgan Stanley raised their price target on shares of Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial has an average rating of “Hold” and an average target price of $41.47.

Insider Transactions at Truist Financial

In other 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 transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Institutional Trading of Truist Financial

Institutional investors have recently made changes to their positions in the business. Fairfield Bush & CO. acquired a new stake in shares of Truist Financial during the 1st quarter valued at about $25,000. West Tower Group LLC acquired a new stake in shares of Truist Financial during the 4th quarter valued at about $29,000. Hobbs Group Advisors LLC acquired a new stake in shares of Truist Financial during the 4th quarter valued at about $32,000. Quarry LP acquired a new stake in shares of Truist Financial during the 1st quarter valued at about $32,000. Finally, LM Advisors LLC acquired a new position in Truist Financial in the fourth quarter valued at about $46,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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.