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

Truist Financial (NYSE:TFC) announced its quarterly earnings data on Monday. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12, RTT News reports. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS.

Truist Financial Stock Up 2.1 %

Shares of Truist Financial stock opened at $38.85 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The company’s fifty day simple moving average is $36.76 and its two-hundred day simple moving average is $34.70. The company has a market cap of $51.85 billion, a P/E ratio of -29.43, a PEG ratio of 2.39 and a beta of 1.08. Truist Financial has a 12-month low of $25.56 and a 12-month high of $39.29.

Truist Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TFC shares. HSBC boosted their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Compass Point upgraded shares of 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 report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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 on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

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.