Truist Financial (NYSE:TFC – Get Free Report) reported earnings on July 22nd. They posted earnings of $0.91 per share (EPS), exceeding expectations of $0.84. The company generated $5.02 billion in revenue, higher than the anticipated $4.83 billion. However, their revenue decreased by 15.9% compared to last year, when they had an EPS of $0.95. Analysts expect $4 EPS for this fiscal year and next.
Stock Performance
On Tuesday, shares of NYSE:TFC opened at $43.61. The stock’s 52-week low is $26.95, and its high is $45.31. Truist has a market cap of $58.35 billion and a negative price-to-earnings ratio of -33.04. Their stock’s 50-day average is $42.50 and the 200-day average is $40.17.
Dividend Announcement
Truist recently paid a quarterly dividend of $0.52 per share to stockholders on September 3rd, following a record date of August 9th. This gives an annual dividend of $2.08 and a yield of 4.77%. Currently, their payout ratio is -157.58%.
Insider Transactions
Recently, VP Cynthia B. Powell sold 6,688 shares at $44.14 each, totaling $295,208.32. Meanwhile, CEO William H. Rogers, Jr. bought 57,300 shares at $43.96 each for $2,518,908.00, increasing his total to 569,271 shares valued at about $25 million. Insiders own 0.17% of Truist’s stock.
Analyst Ratings
Research analysts have mixed ratings on Truist Financial. Barclays raised its price target from $43.00 to $47.00, while Goldman Sachs increased theirs from $45.00 to $50.00. Conversely, Baird downgraded the stock from “strong-buy” to “hold”. Overall, the average rating is “Hold” with a target price of $45.45 according to MarketBeat.com.
Check Out Our Latest Report on Truist Financial
Company Overview
Truist Financial Corporation is a financial services company offering banking and trust services in the Southeastern and Mid-Atlantic U.S. They operate in three segments: Consumer Banking, Corporate Banking, and Insurance Holdings. Their products include various deposit accounts and retirement plans.
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