Equities research analysts expect that Truist Financial Co. (NYSE:TFC) will post earnings of $1.19 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Truist Financial’s earnings, with the highest EPS estimate coming in at $1.29 and the lowest estimate coming in at $1.10. Truist Financial reported earnings per share of $0.97 in the same quarter last year, which would suggest a positive year over year growth rate of 22.7%. The business is scheduled to issue its next quarterly earnings results on Thursday, October 21st.
According to Zacks, analysts expect that Truist Financial will report full-year earnings of $5.16 per share for the current fiscal year, with EPS estimates ranging from $4.99 to $5.38. For the next year, analysts anticipate that the business will post earnings of $4.88 per share, with EPS estimates ranging from $4.60 to $5.25. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Truist Financial.
Truist Financial (NYSE:TFC) last posted its earnings results on Wednesday, July 14th. The insurance provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.38. Truist Financial had a return on equity of 11.13% and a net margin of 23.46%. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. Truist Financial’s revenue was up 3.1% on a year-over-year basis.
In other Truist Financial news, EVP Brantley J. Standridge sold 4,500 shares of the business’s stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $55.11, for a total value of $247,995.00. Following the transaction, the executive vice president now directly owns 11,547 shares in the company, valued at approximately $636,355.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 1,500 shares of Truist Financial stock in a transaction that occurred on Friday, June 18th. The shares were sold at an average price of $53.11, for a total transaction of $79,665.00. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its stake in Truist Financial by 7.3% during the 1st quarter. FMR LLC now owns 349,974 shares of the insurance provider’s stock worth $16,284,000 after purchasing an additional 23,680 shares in the last quarter. Avidian Wealth Solutions LLC boosted its stake in shares of Truist Financial by 6.3% in the 1st quarter. Avidian Wealth Solutions LLC now owns 8,780 shares of the insurance provider’s stock valued at $512,000 after buying an additional 520 shares during the period. Community Bank & Trust Waco Texas acquired a new position in shares of Truist Financial during the first quarter worth about $257,000. LA Financiere DE L Echiquier acquired a new position in shares of Truist Financial during the first quarter worth about $46,696,000. Finally, Capital City Trust Co. FL increased its stake in shares of Truist Financial by 109.0% during the first quarter. Capital City Trust Co. FL now owns 29,238 shares of the insurance provider’s stock worth $1,705,000 after buying an additional 15,250 shares during the period. Institutional investors and hedge funds own 70.76% of the company’s stock.
Shares of Truist Financial stock traded up $0.96 on Wednesday, reaching $55.59. The stock had a trading volume of 236,645 shares, compared to its average volume of 5,421,855. Truist Financial has a 1 year low of $34.86 and a 1 year high of $62.69. The company has a 50 day moving average price of $55.70 and a 200 day moving average price of $57.55. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $74.76 billion, a P/E ratio of 14.55, a P/E/G ratio of 1.13 and a beta of 1.34.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 13th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, August 12th. This is a positive change from Truist Financial’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a yield of 3.45%. Truist Financial’s payout ratio is presently 50.53%.
About Truist Financial
Truist Financial Corp. operates as a financial holding company, which engages in the provision of banking services to individuals, businesses and municipalities. The firm offers a variety of loans and lease financing to individuals and entities, including insurance premium financing, permanent commercial real estate financing arrangements, loan servicing for third-party investors, direct consumer finance loans to individuals, credit card lending, automobile financing and equipment financing.
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