Truist Financial (TFC) Scheduled to Post Quarterly Earnings on Thursday

Truist Financial (NYSE:TFC) will be issuing its quarterly earnings data before the market opens on Thursday, October 17th. Analysts expect the company to announce earnings of $0.89 per share for the quarter. Truist Financial has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. 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 Stock Performance

Shares of TFC opened at $43.91 on Wednesday. The stock has a 50-day simple moving average of $42.55 and a 200-day simple moving average of $40.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $58.76 billion, a PE ratio of -33.27, a PEG ratio of 1.78 and a beta of 1.05. Truist Financial has a 1 year low of $26.95 and a 1 year high of $45.31.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.74%. The ex-dividend date was Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TFC shares. Royal Bank of Canada boosted their target price on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Wednesday, July 17th. Morgan Stanley boosted their target price on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Finally, Bank of America boosted their target price on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and an average target price of $45.45.

Insider Activity

In related news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. Corporate 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.