Brokerages predict that Truist Financial Co. (NYSE: TFC) will post sales of $ 5.51 billion for the current quarter, according to Zack. Five analysts have made estimates for Truist Financial’s earnings, with estimates ranging from $ 5.45 billion to $ 5.56 billion. Truist Financial posted sales of $ 5.57 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.1%. The company is expected to release its next earnings report before the market opens on Friday, October 15.
On average, analysts expect Truist Financial to report annual revenue of $ 22.17 billion for the current fiscal year, with estimates ranging from $ 22.08 billion to $ 22.28 billion. For the next fiscal year, analysts expect the company to have revenue of $ 22.21 billion, with estimates ranging from $ 21.84 billion to $ 22.56 billion. Zacks sales averages are an average based on a survey of sales analysts who cover Truist Financial.
Truist Financial (NYSE: TFC) last released its quarterly earnings data on Wednesday, July 14. The insurance provider reported earnings per share of $ 1.55 for the quarter, beating the consensus estimate of $ 1.17 by $ 0.38. The company posted revenue of $ 5.65 billion in the quarter, compared to $ 5.48 billion expected by analysts. Truist Financial had a net margin of 23.46% and a return on equity of 11.13%. The company’s quarterly revenue grew 3.1% year-over-year. During the same period of the previous year, the company made a profit of $ 0.82 per share.
A number of analysts have published reports on TFC shares. Wolfe Research downgraded Truist Financial from an “outperformance” rating to an “underperformance” rating and lowered its price target for the stock from $ 71.00 to $ 64.00 in a research note on Tuesday . Zacks investment research raised Truist Financial shares from a “hold” rating to a “buy” rating and set a price target of $ 58.00 on the stock in a research report released Thursday, July 1. Odeon Capital Group downgraded Truist Financial shares from a “buy” rating to a “hold” rating in a report released on Monday, July 19. Finally, Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and raised its price target for the company from $ 63.00 to $ 72.00 in a research report. Friday October 1. They noted that the move was an appraisal call. One analyst rated the stock with a sell rating, eight assigned a conservation rating, and four assigned a buy rating to the stock. According to MarketBeat, Truist Financial has an average “Hold” rating and a consensus price target of $ 61.31.
TFC action open at $ 60.28 Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78, and a debt ratio of 0.62. Truist Financial has a twelve month low of $ 40.05 and a twelve month high of $ 62.69. The company has a market cap of $ 81.07 billion, a P / E ratio of 15.78, a price / earnings-growth ratio of 1.13 and a beta of 1.34. The company’s fifty-day moving average is $ 56.48 and its 200-day moving average is $ 57.39.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 1. Shareholders of record on Friday August 13 received a dividend of $ 0.48. This represents a dividend of $ 1.92 on an annualized basis and a return of 3.19%. This is a positive change from Truist Financial’s previous quarterly dividend of $ 0.45. The ex-dividend date was Thursday, August 12. Truist Financial’s dividend payout ratio (DPR) is currently 50.53%.
In other news from Truist Financial, Executive Vice President Brantley J. Standridge sold 4,500 shares of the company in a trade on Thursday, August 19. The shares were sold for an average price of $ 55.11, for a total value of $ 247,995.00. Following the sale, the Executive Vice President now owns 11,547 shares of the company, valued at approximately $ 636,355.17. The sale was disclosed in a legal file with the SEC, which is available through this hyperlink. Also, director K. David Jr. Boyer sold 1,423 shares of the company in a transaction dated Thursday, September 23. The stock was sold at an average price of $ 56.91, for a total trade of $ 80,982.93. Disclosure of this sale can be found here. 0.37% of the shares are currently held by company insiders.
A number of institutional investors and hedge funds have recently changed their holdings in the company. Truvestments Capital LLC increased its stake in shares of Truist Financial by 142.3% during the first quarter. Truvestments Capital LLC now owns 487 shares of the insurance provider valued at $ 29,000 after purchasing an additional 286 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new equity position from Truist Financial during the second quarter valued at approximately $ 29,000. Ancora Advisors LLC increased its position in shares of Truist Financial by 140.5% during the 2nd quarter. Ancora Advisors LLC now owns 546 shares of the insurance provider valued at $ 30,000 after purchasing 319 additional shares in the last quarter. Parisi Gray Wealth Management purchased a new position in shares of Truist Financial during the second quarter valued at approximately $ 34,000. Finally, Eukles Asset Management purchased a new position in shares of Truist Financial in the second quarter valued at approximately $ 46,000. 70.76% of the shares are currently held by institutional investors and hedge funds.
About Truist Financial
Truist Financial Corp. operates as a financial holding company, which provides banking services to individuals, businesses and municipalities. The company offers a variety of loans and lease financing to individuals and entities, including insurance premium financing, permanent commercial real estate financing arrangements, loan service for third-party investors, credit loans consumer direct to individuals, credit card loans, auto financing and equipment. funding.
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