Truist Financial Co. (NYSE:TFC – Free Report) – Investment analysts at Zacks Research lowered their Q1 2024 earnings per share (EPS) estimates for shares of Truist Financial in a research report issued to clients and investors on Thursday, February 8th. Zacks Research analyst R. Department now anticipates that the insurance provider will post earnings per share of $0.75 for the quarter, down from their previous estimate of $0.80. The consensus estimate for Truist Financial’s current full-year earnings is $3.39 per share. Zacks Research also issued estimates for Truist Financial’s Q2 2024 earnings at $0.85 EPS, Q3 2024 earnings at $0.82 EPS, Q4 2024 earnings at $0.85 EPS, FY2024 earnings at $3.28 EPS, Q1 2025 earnings at $0.82 EPS, Q2 2025 earnings at $0.95 EPS, Q3 2025 earnings at $0.93 EPS, Q4 2025 earnings at $0.98 EPS and FY2025 earnings at $3.68 EPS.
Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter last year, the firm posted $1.30 earnings per share.
Other research analysts also recently issued research reports about the company. Royal Bank of Canada increased their price target on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, January 4th. Raymond James increased their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Barclays boosted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Evercore ISI increased their price target on shares of Truist Financial from $31.00 to $33.00 and gave the stock an “in-line” rating in a research report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.87.
Get Our Latest Report on Truist Financial
Truist Financial Stock Performance
Shares of TFC stock opened at $35.84 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The company’s fifty day moving average price is $36.44 and its two-hundred day moving average price is $32.14. The firm has a market capitalization of $47.80 billion, a P/E ratio of -33.19, a P/E/G ratio of 1.51 and a beta of 1.09. Truist Financial has a 12 month low of $25.56 and a 12 month high of $49.32.
Hedge Funds Weigh In On Truist Financial
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TFC. Fairfield Bush & CO. acquired a new stake in Truist Financial in the first quarter worth about $25,000. United Bank lifted its stake in shares of Truist Financial by 4.1% in the 1st quarter. United Bank now owns 74,457 shares of the insurance provider’s stock worth $4,222,000 after acquiring an additional 2,938 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of Truist Financial by 33.3% in the first quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after acquiring an additional 6,593 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Truist Financial by 3.3% during the first quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after acquiring an additional 738 shares during the period. Finally, Blair William & Co. IL raised its holdings in Truist Financial by 8.1% during the first quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock worth $3,214,000 after purchasing an additional 4,234 shares in the last quarter. 71.11% of the stock is owned by institutional investors.
Truist Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.80%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.
About Truist Financial
Truist Financial Corporation, a holding 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.
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