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.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.