Truist Financial (NYSE:TFC) is set to announce its earnings results before the market opens on Thursday, April 15th. Analysts expect the company to announce earnings of $1.08 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.
Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Wednesday, January 20th. The insurance provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.19. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the prior year, the company earned $1.04 EPS. On average, analysts expect Truist Financial to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of Truist Financial stock opened at $58.98 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a market capitalization of $79.30 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.75 and a beta of 1.36. Truist Financial has a 52-week low of $29.24 and a 52-week high of $61.26. The stock’s 50-day simple moving average is $58.72 and its 200 day simple moving average is $50.11.
In other news, COO William H. Rogers, Jr. sold 176,379 shares of the company’s stock in a transaction on Friday, January 22nd. The shares were sold at an average price of $50.22, for a total value of $8,857,753.38. Following the completion of the sale, the chief operating officer now owns 849,506 shares of the company’s stock, valued at approximately $42,662,191.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clarke R. Starnes III sold 48,175 shares of the stock in a transaction on Friday, January 22nd. The shares were sold at an average price of $51.06, for a total transaction of $2,459,815.50. Following the transaction, the insider now directly owns 182,205 shares in the company, valued at approximately $9,303,387.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,094 shares of company stock worth $12,045,695. 0.35% of the stock is currently owned by insiders.
A number of research firms recently weighed in on TFC. Truist lowered shares of Truist Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Robert W. Baird reiterated a “neutral” rating and issued a $53.00 price target on shares of Truist Financial in a research report on Thursday, January 7th. Bank of America increased their price objective on Truist Financial from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, January 22nd. Raymond James lifted their target price on Truist Financial from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Stephens increased their price target on shares of Truist Financial from $54.00 to $66.00 in a report on Tuesday, March 30th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $52.39.
Truist Financial Company Profile
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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