Truist Financial (NYSE:TFC) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Truist Financial (NYSE:TFC) posted its earnings results on Monday. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12, RTT News reports. The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS.

Truist Financial Stock Performance

NYSE:TFC opened at $38.85 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial has a fifty-two week low of $25.56 and a fifty-two week high of $39.29. The company has a market cap of $51.85 billion, a price-to-earnings ratio of -29.43, a PEG ratio of 2.39 and a beta of 1.08. The stock has a fifty day moving average price of $36.76 and a 200-day moving average price of $34.70.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. Truist Financial’s payout ratio is -157.58%.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on TFC. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. HSBC boosted their price target on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Royal Bank of Canada boosted their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, Keefe, Bruyette & Woods boosted their target price on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.59.

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.