Truist Financial (NYSE:TFC) Announces Earnings Results

Truist Financial (NYSE:TFC) issued 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 business had revenue of $4.87 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS.

Truist Financial Trading Down 0.1 %

Shares of NYSE:TFC traded down $0.05 during trading on Wednesday, reaching $38.79. 6,992,508 shares of the company were exchanged, compared to its average volume of 9,669,010. The firm has a market capitalization of $51.77 billion, a PE ratio of -29.20, a P/E/G ratio of 2.39 and a beta of 1.08. The business’s fifty day simple moving average is $36.76 and its 200-day simple moving average is $34.70. Truist Financial has a 12-month low of $25.56 and a 12-month high of $39.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial Announces Dividend

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

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TFC. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Thursday, January 4th. HSBC raised their price objective on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Finally, UBS Group raised their price objective on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.