Truist Financial Co. (NYSE:TFC - Free Report) - Zacks Research raised their FY2024 earnings per share estimates for Truist Financial in a research note issued on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the insurance provider will post earnings per share of $3.65 for the year, up from their prior estimate of $3.63. The consensus estimate for Truist Financial's current full-year earnings is $3.70 per share. Zacks Research also issued estimates for Truist Financial's Q4 2025 earnings at $1.07 EPS, FY2025 earnings at $3.84 EPS, Q1 2026 earnings at $1.04 EPS, Q3 2026 earnings at $1.08 EPS and FY2026 earnings at $4.31 EPS.
Several other research firms have also recently issued reports on TFC. Morgan Stanley upped their price target on Truist Financial from $46.00 to $51.00 and gave the company an "equal weight" rating in a report on Tuesday, July 30th. StockNews.com raised Truist Financial from a "sell" rating to a "hold" rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Citigroup lowered shares of Truist Financial from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Finally, Compass Point boosted their target price on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $46.37.
Check Out Our Latest Stock Analysis on Truist Financial
Truist Financial Price Performance
NYSE:TFC traded up $0.78 during midday trading on Thursday, hitting $46.96. 2,889,615 shares of the stock were exchanged, compared to its average volume of 8,283,609. Truist Financial has a one year low of $31.23 and a one year high of $47.57. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $43.45 and a two-hundred day moving average price of $41.41. The company has a market capitalization of $62.34 billion, a price-to-earnings ratio of -32.29, a P/E/G ratio of 1.92 and a beta of 1.05.
Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%.
Truist Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.43%. Truist Financial's payout ratio is presently -145.45%.
Institutional Trading of Truist Financial
Hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors lifted its position in shares of Truist Financial by 93.7% in the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider's stock worth $453,854,000 after purchasing an additional 5,632,493 shares during the period. State Street Corp boosted its holdings in Truist Financial by 4.6% in the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider's stock worth $2,645,964,000 after acquiring an additional 2,720,223 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Truist Financial by 316.4% during the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider's stock worth $90,585,000 after purchasing an additional 1,609,351 shares during the period. HighTower Advisors LLC grew its holdings in shares of Truist Financial by 26.1% during the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider's stock valued at $166,892,000 after buying an additional 807,648 shares during the last quarter. Finally, Swedbank AB bought a new position in Truist Financial during the 1st quarter valued at $29,957,000. Institutional investors and hedge funds own 71.28% of the company's stock.
Truist Financial Company Profile
(
Get Free Report)
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.
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