Truist Financial (NYSE:TFC) posted its quarterly earnings results on Thursday. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.09, RTT News reports. Truist Financial had a net margin of 17.32% and a return on equity of 8.07%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period last year, the firm earned $0.95 EPS. The company’s revenue for the quarter was up 85.1% on a year-over-year basis.
TFC stock opened at $42.23 on Thursday. The stock has a market capitalization of $56.91 billion, a P/E ratio of 13.62, a PEG ratio of 1.46 and a beta of 1.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.93 and a current ratio of 0.95. Truist Financial has a one year low of $24.01 and a one year high of $56.92. The company has a 50 day moving average price of $39.16 and a two-hundred day moving average price of $37.02.
A number of research firms have recently issued reports on TFC. JPMorgan Chase & Co. lifted their price target on shares of Truist Financial from $40.00 to $43.50 in a research report on Tuesday, October 6th. ValuEngine upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. BMO Capital Markets lifted their price target on shares of Truist Financial from $42.00 to $47.00 in a research report on Friday, July 17th. Zacks Investment Research upgraded Truist Financial from a “sell” rating to a “hold” rating and set a $40.00 price objective for the company in a research report on Friday, August 21st. Finally, TheStreet upgraded Truist Financial from a “c+” rating to a “b-” rating in a research report on Thursday, October 8th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Truist Financial has an average rating of “Buy” and a consensus target price of $44.68.
Truist Financial Company Profile
Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.
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