Zacks: Analysts Expect Truist Financial Co. (NYSE:TFC) to Post $1.16 EPS

Equities analysts expect that Truist Financial Co. (NYSE:TFC) will post earnings of $1.16 per share for the current quarter, Zacks reports. Five analysts have made estimates for Truist Financial’s earnings, with estimates ranging from $1.10 to $1.27. Truist Financial posted earnings per share of $0.82 in the same quarter last year, which indicates a positive year-over-year growth rate of 41.5%. The firm is expected to announce its next earnings report on Thursday, July 15th.

According to Zacks, analysts expect that Truist Financial will report full year earnings of $4.68 per share for the current fiscal year, with EPS estimates ranging from $4.45 to $5.00. For the next fiscal year, analysts forecast that the firm will post earnings of $4.78 per share, with EPS estimates ranging from $4.40 to $5.25. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Truist Financial.

Truist Financial (NYSE:TFC) last posted its earnings results on Wednesday, April 14th. The insurance provider reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.07. The firm had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Truist Financial had a net margin of 20.04% and a return on equity of 9.48%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share.

A number of equities analysts recently issued reports on TFC shares. Stephens boosted their target price on shares of Truist Financial from $54.00 to $66.00 in a research report on Tuesday, March 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Truist Financial from $56.00 to $65.00 in a report on Monday, March 15th. Morgan Stanley boosted their target price on shares of Truist Financial from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 24th. Barclays boosted their target price on shares of Truist Financial from $59.00 to $64.00 in a research note on Wednesday, April 7th. Finally, Raymond James reiterated a “market perform” rating on shares of Truist Financial in a research report on Monday, May 17th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $58.27.

In other news, EVP Michael Baron Maguire sold 3,250 shares of Truist Financial stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $58.16, for a total transaction of $189,020.00. Following the sale, the executive vice president now directly owns 7,027 shares of the company’s stock, valued at $408,690.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Cynthia B. Powell sold 2,201 shares of Truist Financial stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $58.31, for a total value of $128,340.31. Following the sale, the vice president now directly owns 2,133 shares in the company, valued at $124,375.23. The disclosure for this sale can be found here. Insiders have sold a total of 20,997 shares of company stock worth $1,223,463 in the last quarter. Company insiders own 0.37% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Hoover Financial Advisors Inc. bought a new stake in Truist Financial in the fourth quarter worth approximately $25,000. Atlas Private Wealth Advisors increased its holdings in shares of Truist Financial by 890.9% during the first quarter. Atlas Private Wealth Advisors now owns 436 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 392 shares in the last quarter. Evolution Wealth Advisors LLC increased its holdings in shares of Truist Financial by 274.1% during the first quarter. Evolution Wealth Advisors LLC now owns 505 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 370 shares in the last quarter. Truvestments Capital LLC increased its holdings in shares of Truist Financial by 142.3% during the first quarter. Truvestments Capital LLC now owns 487 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 286 shares in the last quarter. Finally, RWM Asset Management LLC bought a new stake in Truist Financial during the fourth quarter worth $30,000. 71.96% of the stock is currently owned by institutional investors.

NYSE:TFC opened at $57.83 on Tuesday. Truist Financial has a 12 month low of $33.47 and a 12 month high of $62.69. The company has a market capitalization of $77.77 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.81 and a current ratio of 0.82. The company has a 50 day moving average price of $59.70.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Thursday, May 13th. Truist Financial’s dividend payout ratio is 47.37%.

About Truist Financial

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.

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

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