Truist Financial (NYSE:TFC) Issues Quarterly Earnings Results

Truist Financial (NYSE:TFC) posted its quarterly earnings data on Monday. The insurance provider reported $0.90 earnings per share 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 negative net margin of 3.28% and a positive return on equity of 9.64%. The company’s revenue was down 8.8% on a year-over-year basis. During the same quarter last year, the business posted $1.09 earnings per share.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $38.04 on Tuesday. Truist Financial has a 52 week low of $25.56 and a 52 week high of $39.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $50.77 billion, a price-to-earnings ratio of -35.22, a PEG ratio of 2.27 and a beta of 1.08. The firm has a fifty day moving average of $36.68 and a two-hundred day moving average of $34.62.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TFC has been the subject of a number of recent analyst reports. Raymond James raised their price target on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 5th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Piper Sandler upped their price target on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Barclays raised their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.