Truist Financial (NYSE:TFC) Announces Earnings Results

Truist Financial (NYSE:TFC) posted its earnings results on Monday. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12, RTT News reports. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. Truist Financial’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS.

Truist Financial Stock Up 2.1 %

Truist Financial stock opened at $38.85 on Wednesday. The firm has a market cap of $51.85 billion, a PE ratio of -29.43, a P/E/G ratio of 2.39 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50 day moving average price is $36.76 and its two-hundred day moving average price is $34.70. Truist Financial has a twelve month low of $25.56 and a twelve month high of $39.29.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred 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 approximately $604,627.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TFC shares. Stephens reaffirmed an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a research note on Tuesday. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Wells Fargo & Company increased their target price on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a research note on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $41.59.

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.