Truist Financial (TFC) to Release Earnings on Friday

Truist Financial (NYSE:TFC) will likely be announcing its earnings results before the market opens on Friday, January 17th. Analysts expect the company to announce earnings of $0.88 per share and revenue of $5,047,370.00 billion for the quarter.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate 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 company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. 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 Trading Up 3.4 %

Shares of NYSE:TFC opened at $45.40 on Thursday. The business’s 50 day moving average price is $45.41 and its 200-day moving average price is $43.46. Truist Financial has a 1 year low of $34.23 and a 1 year high of $49.06. The firm has a market capitalization of $60.27 billion, a price-to-earnings ratio of -31.75, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TFC. Stephens restated an “overweight” rating and set a $54.00 price target on shares of Truist Financial in a research report on Thursday, January 2nd. Wells Fargo & Company increased their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Royal Bank of Canada raised their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Compass Point upped their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.89.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company 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.