Truist Financial Co. (NYSE:TFC) Expected to Announce Earnings of $1.26 Per Share

Equities research analysts expect Truist Financial Co. (NYSE:TFC) to report earnings of $1.26 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Truist Financial’s earnings, with estimates ranging from $1.20 to $1.33. Truist Financial posted earnings of $1.18 per share during the same quarter last year, which indicates a positive year over year growth rate of 6.8%. The firm is expected to report its next earnings report before the market opens on Tuesday, January 18th.

On average, analysts expect that Truist Financial will report full year earnings of $5.41 per share for the current year, with EPS estimates ranging from $5.35 to $5.49. For the next year, analysts expect that the company will post earnings of $4.81 per share, with EPS estimates ranging from $4.63 to $5.27. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Truist Financial.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, October 14th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.22. Truist Financial had a return on equity of 12.11% and a net margin of 25.94%. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period in the prior year, the firm earned $0.97 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year.

Several analysts recently issued reports on the company. Barclays increased their price target on Truist Financial from $64.00 to $72.00 in a report on Monday, January 3rd. Jefferies Financial Group increased their price target on Truist Financial from $61.00 to $66.00 and gave the company a “hold” rating in a report on Monday, October 11th. UBS Group assumed coverage on Truist Financial in a report on Friday, December 10th. They issued a “neutral” rating and a $63.00 price target for the company. Wolfe Research downgraded Truist Financial from an “outperform” rating to an “underperform” rating and lowered their price target for the company from $71.00 to $64.00 in a report on Tuesday, October 5th. Finally, Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the company from $63.00 to $72.00 in a research note on Friday, October 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $65.18.

In other news, Director Kelly S. King sold 71,611 shares of the stock in a transaction dated Monday, October 18th. The shares were sold at an average price of $61.98, for a total transaction of $4,438,449.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 67,000 shares of Truist Financial stock in a transaction dated Monday, October 18th. The shares were bought at an average cost of $61.85 per share, for a total transaction of $4,143,950.00. The disclosure for this purchase can be found here. Insiders have sold 223,295 shares of company stock worth $13,852,893 in the last ninety days. Corporate insiders own 0.37% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Crewe Advisors LLC lifted its holdings in Truist Financial by 61.1% in the third quarter. Crewe Advisors LLC now owns 493 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 187 shares during the last quarter. Tower View Investment Management & Research LLC bought a new position in Truist Financial in the third quarter worth about $29,000. Ancora Advisors LLC lifted its holdings in Truist Financial by 140.5% in the second quarter. Ancora Advisors LLC now owns 546 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 319 shares during the last quarter. Mascoma Wealth Management LLC bought a new position in Truist Financial in the third quarter worth about $30,000. Finally, Parisi Gray Wealth Management bought a new position in Truist Financial in the second quarter worth about $34,000. 71.89% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE TFC opened at $67.41 on Monday. Truist Financial has a 12-month low of $47.69 and a 12-month high of $67.61. The company has a market cap of $89.98 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.64 and a beta of 1.27. The company has a current ratio of 0.77, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average price of $61.07 and a 200 day moving average price of $58.86.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 1st. Stockholders of record on Friday, November 12th were paid a dividend of $0.48 per share. The ex-dividend date was Wednesday, November 10th. This represents a $1.92 annualized dividend and a dividend yield of 2.85%. Truist Financial’s dividend payout ratio is presently 45.28%.

About Truist Financial

Truist Financial Corp. operates as a financial holding company, which engages in the provision of banking services to individuals, businesses and municipalities. The firm offers a variety of loans and lease financing to individuals and entities, including insurance premium financing, permanent commercial real estate financing arrangements, loan servicing for third-party investors, direct consumer finance loans to individuals, credit card lending, automobile financing and equipment financing.

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Earnings History and Estimates for Truist Financial (NYSE:TFC)

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