Truist Financial (TFC) Projected to Post Quarterly Earnings on Friday

Truist Financial (NYSE:TFC) is anticipated to issue its quarterly earnings data before the market opens on Friday, January 17th. Analysts expect the company to announce earnings of $0.88 per share and revenue of $5,047,370.00 billion for the quarter. Truist Financial has set its FY 2024 guidance at EPS and its Q4 2024 guidance at EPS.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. On average, analysts expect Truist Financial to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Truist Financial Trading Up 3.4 %

Shares of NYSE TFC traded up $1.49 during midday trading on Wednesday, hitting $45.40. The company’s stock had a trading volume of 7,973,508 shares, compared to its average volume of 7,133,115. The business’s 50 day moving average is $45.41 and its two-hundred day moving average is $43.46. Truist Financial has a 12-month low of $34.23 and a 12-month high of $49.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a market cap of $60.27 billion, a P/E ratio of -31.75, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.58%. Truist Financial’s payout ratio is -145.45%.

Insider Transactions at Truist Financial

In related news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of research analyst reports. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Barclays upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Compass Point lifted their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. increased their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

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.