Truist Financial (NYSE:TFC) Announces Earnings Results, Beats Estimates By $0.12 EPS

Truist Financial (NYSE:TFC) announced its quarterly earnings results on Monday. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12, RTT News reports. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. Truist Financial’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 EPS.

Truist Financial Price Performance

TFC stock traded down $0.05 on Wednesday, reaching $38.79. The company had a trading volume of 7,015,374 shares, compared to its average volume of 9,680,715. Truist Financial has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The company’s fifty day moving average is $36.76 and its 200 day moving average is $34.70. The company has a market cap of $51.77 billion, a P/E ratio of -29.20, a PEG ratio of 2.39 and a beta of 1.08.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.36%. Truist Financial’s payout ratio is currently -157.58%.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $34.00 to $42.00 in a research report on Tuesday. Jefferies Financial Group boosted their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Raymond James boosted their price target on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.97.

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.