What is Zacks Research’s Forecast for TFC FY2024 Earnings?

Truist Financial Co. (NYSE:TFC) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of Truist Financial in a research report issued on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the insurance provider will earn $3.65 per share for the year, up from their prior estimate of $3.63. The consensus estimate for Truist Financial’s current full-year earnings is $3.70 per share. Zacks Research also issued estimates for Truist Financial’s Q4 2025 earnings at $1.07 EPS, FY2025 earnings at $3.84 EPS, Q1 2026 earnings at $1.04 EPS, Q3 2026 earnings at $1.08 EPS and FY2026 earnings at $4.31 EPS.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion.

A number of other equities research analysts also recently weighed in on the company. Stephens reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research report on Tuesday, September 10th. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. UBS Group raised their price objective on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Compass Point increased their price target on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Finally, Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.37.

Truist Financial Price Performance

Shares of TFC stock opened at $46.91 on Thursday. Truist Financial has a 1-year low of $31.23 and a 1-year high of $47.57. The stock’s 50-day moving average is $43.56 and its 200 day moving average is $41.45. The company has a market cap of $62.27 billion, a P/E ratio of -32.80, a PEG ratio of 1.92 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Institutional Trading of Truist Financial

Several institutional investors have recently bought and sold shares of the business. State Street Corp grew its holdings in Truist Financial by 4.6% in the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the period. Geode Capital Management LLC boosted its stake in shares of Truist Financial by 1.7% in the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after acquiring an additional 456,412 shares during the last quarter. Capital International Investors boosted its stake in shares of Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after acquiring an additional 5,632,493 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Truist Financial by 1.0% in the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after acquiring an additional 103,565 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Truist Financial by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock worth $403,365,000 after acquiring an additional 288,306 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

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.