Wall Street analysts expect Truist Financial Co. (NYSE:TFC – Get Rating) to report earnings of $1.19 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Truist Financial’s earnings, with the lowest EPS estimate coming in at $1.13 and the highest estimate coming in at $1.31. Truist Financial reported earnings of $1.55 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 23.2%. The firm is expected to issue its next quarterly earnings report before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Truist Financial will report full-year earnings of $4.92 per share for the current year, with EPS estimates ranging from $4.55 to $5.24. For the next fiscal year, analysts expect that the firm will report earnings of $5.56 per share, with EPS estimates ranging from $5.30 to $5.90. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Truist Financial.
Truist Financial (NYSE:TFC – Get Rating) last released its quarterly earnings data on Tuesday, April 19th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.48 billion. Truist Financial had a return on equity of 12.70% and a net margin of 27.89%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.18 earnings per share.
NYSE TFC opened at $46.31 on Friday. The stock has a 50-day simple moving average of $53.96 and a 200 day simple moving average of $59.20. The company has a market capitalization of $61.66 billion, a PE ratio of 10.34, a P/E/G ratio of 1.76 and a beta of 1.18. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.58. Truist Financial has a 12 month low of $45.51 and a 12 month high of $68.95.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, May 12th. This represents a $1.92 annualized dividend and a dividend yield of 4.15%. Truist Financial’s dividend payout ratio is currently 42.86%.
In related news, Director Steven C. Voorhees bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were acquired at an average price of $49.82 per share, for a total transaction of $996,400.00. Following the completion of the acquisition, the director now owns 60,873 shares of the company’s stock, valued at approximately $3,032,692.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven C. Voorhees bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 4th. The shares were bought at an average price of $59.21 per share, for a total transaction of $592,100.00. The disclosure for this purchase can be found here. 0.31% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in TFC. FMR LLC raised its stake in Truist Financial by 7.3% in the first quarter. FMR LLC now owns 349,974 shares of the insurance provider’s stock valued at $16,284,000 after buying an additional 23,680 shares during the period. Avidian Wealth Solutions LLC raised its stake in Truist Financial by 11.1% in the third quarter. Avidian Wealth Solutions LLC now owns 10,384 shares of the insurance provider’s stock valued at $609,000 after buying an additional 1,041 shares during the period. Orion Portfolio Solutions LLC raised its stake in Truist Financial by 39.2% in the third quarter. Orion Portfolio Solutions LLC now owns 16,949 shares of the insurance provider’s stock valued at $994,000 after buying an additional 4,769 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Truist Financial by 18.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 27,654 shares of the insurance provider’s stock valued at $1,622,000 after buying an additional 4,298 shares during the period. Finally, SouthState Corp raised its stake in Truist Financial by 0.4% in the third quarter. SouthState Corp now owns 51,150 shares of the insurance provider’s stock valued at $3,000,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.
About Truist Financial (Get Rating)
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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