Truist Financial (NYSE:TFC) Announces Quarterly Earnings Results

Truist Financial (NYSE:TFC) posted its quarterly earnings data on Monday. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the business earned $1.09 EPS. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis.

Truist Financial Stock Up 2.1 %

Shares of NYSE TFC opened at $38.85 on Wednesday. The firm has a market cap of $51.85 billion, a price-to-earnings ratio of -29.43, a PEG 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. Truist Financial has a 52-week low of $25.56 and a 52-week high of $39.29. The business’s 50 day moving average is $36.76 and its two-hundred day moving average is $34.70.

Truist Financial Announces Dividend

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

Analysts Set New Price Targets

TFC has been the subject of several research reports. Wells Fargo & Company boosted their price objective on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, January 4th. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $42.00 in a research note on Tuesday. Raymond James boosted their target price on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Finally, Stephens restated an “overweight” rating and set a $43.00 target price on shares of Truist Financial in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.59.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’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 sale, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by corporate insiders.

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.