Truist Financial (NYSE:TFC) Posts Earnings Results, Beats Estimates By $0.12 EPS

Truist Financial (NYSE:TFC) announced its quarterly earnings data 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. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the business earned $1.09 EPS. The firm’s revenue was down 8.8% compared to the same quarter last year.

Truist Financial Stock Performance

TFC 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 quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The business has a 50 day moving average of $36.76 and a 200-day moving average of $34.70. Truist Financial has a 12-month low of $25.56 and a 12-month high of $39.29.

Truist Financial Announces Dividend

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

Insider Activity

In other 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 stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Thursday, January 4th. Stephens reaffirmed an “overweight” rating and issued a $43.00 target price on shares of Truist Financial in a research report on Tuesday. Piper Sandler boosted their target price on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Finally, Jefferies Financial Group boosted their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.59.

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.