Zacks Research Issues Positive Forecast for TFC Earnings

Truist Financial Co. (NYSE:TFC) – Stock analysts at Zacks Research boosted their Q4 2024 earnings estimates for shares of Truist Financial in a report released on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the insurance provider will post earnings of $0.87 per share for the quarter, up from their previous forecast of $0.85. 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 Q2 2026 earnings at $1.08 EPS.

A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada lifted their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company lifted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Compass Point increased their price target on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.37.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $47.96 on Friday. Truist Financial has a 12 month low of $31.23 and a 12 month high of $48.06. The stock has a 50 day moving average of $43.68 and a 200-day moving average of $41.53. 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 company has a market capitalization of $63.67 billion, a P/E ratio of -33.54, a P/E/G ratio of 1.92 and a beta of 1.05.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 annualized dividend and a dividend yield of 4.34%. Truist Financial’s dividend payout ratio is -145.45%.

Hedge Funds Weigh In On Truist Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp increased its position in Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after purchasing an additional 2,720,223 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings 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 buying an additional 1,609,351 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Truist Financial by 26.1% in the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after acquiring an additional 807,648 shares during the last quarter. Swedbank AB acquired a new stake in shares of Truist Financial during the 1st quarter valued at $29,957,000. Finally, LPL Financial LLC grew its position in Truist Financial by 21.0% during the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after acquiring an additional 630,628 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

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.