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

Truist Financial (NYSE:TFC) posted its quarterly earnings results on Monday. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12, RTT News reports. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was down 8.8% on a year-over-year basis.

Truist Financial Stock Up 3.4 %

TFC opened at $38.04 on Tuesday. Truist Financial has a 12 month low of $25.56 and a 12 month high of $39.29. The company has a market cap of $50.77 billion, a P/E ratio of -35.22, a P/E/G ratio of 2.27 and a beta of 1.08. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The business’s 50-day moving average price is $36.68 and its 200-day moving average price is $34.62.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TFC. HSBC lifted their price objective on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Piper Sandler lifted their price objective on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Finally, Raymond James raised their price target on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.56.

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.