Truist Financial (TFC) Set to Announce Quarterly Earnings on Monday

Truist Financial (NYSE:TFC - Get Free Report) is scheduled to release its earnings data before the market opens on Monday, April 22nd. Analysts expect Truist Financial to post earnings of $0.79 per share for the quarter. Truist Financial has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Persons interested in listening to the company's earnings conference call can do so using this link.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.13. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $1.30 earnings per share. On average, analysts expect Truist Financial to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Truist Financial Stock Down 0.2 %

NYSE:TFC traded down $0.07 during trading hours on Monday, reaching $36.71. The company's stock had a trading volume of 11,227,637 shares, compared to its average volume of 9,687,146. The company has a market cap of $48.99 billion, a price-to-earnings ratio of -33.99, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08. Truist Financial has a one year low of $25.56 and a one year high of $39.29. The business's 50-day moving average is $36.63 and its 200-day moving average is $34.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.67%. The ex-dividend date was Thursday, February 8th. Truist Financial's dividend payout ratio (DPR) is presently -192.59%.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company's stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hobbs Group Advisors LLC acquired a new position in Truist Financial in the 4th quarter valued at about $32,000. Public Employees Retirement System of Ohio grew its position in shares of Truist Financial by 7.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 718,419 shares of the insurance provider's stock worth $26,524,000 after purchasing an additional 51,490 shares in the last quarter. Faithward Advisors LLC acquired a new position in shares of Truist Financial during the 4th quarter worth approximately $204,000. Peloton Wealth Strategists grew its position in shares of Truist Financial by 5.0% during the 4th quarter. Peloton Wealth Strategists now owns 65,300 shares of the insurance provider's stock worth $2,411,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Townsquare Capital LLC grew its position in shares of Truist Financial by 11.9% during the 4th quarter. Townsquare Capital LLC now owns 8,991 shares of the insurance provider's stock worth $332,000 after purchasing an additional 959 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent research reports. Bank of America raised 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 report on Thursday, January 4th. Raymond James increased their price target on shares of Truist Financial from $34.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, January 5th. Wells Fargo & Company increased their price target on shares of Truist Financial from $39.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. Royal Bank of Canada raised their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an "outperform" rating in a report on Friday, January 19th. Finally, UBS Group raised their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Truist Financial has an average rating of "Hold" and a consensus price target of $41.47.

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.