Truist Financial Co. (NYSE:TFC) Forecasted to Post Q4 2021 Earnings of $1.17 Per Share


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Truist Financial Co. (NYSE:TFC) – Analysts at Jefferies Financial Group upped their Q4 2021 earnings per share (EPS) estimates for Truist Financial in a research report issued on Friday, April 9th. Jefferies Financial Group analyst K. Usdin now forecasts that the insurance provider will earn $1.17 per share for the quarter, up from their previous estimate of $1.16. Jefferies Financial Group also issued estimates for Truist Financial’s FY2022 earnings at $4.95 EPS.

A number of other analysts have also weighed in on TFC. Credit Suisse Group raised their target price on Truist Financial from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, January 22nd. Bank of America upped their target price on Truist Financial from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, January 22nd. Morgan Stanley increased their price target on Truist Financial from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 30th. Barclays increased their price target on Truist Financial from $59.00 to $64.00 in a report on Wednesday, April 7th. Finally, Truist downgraded Truist Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 7th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $52.39.

NYSE:TFC opened at $58.98 on Monday. The company has a market capitalization of $79.30 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.75 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.91 and a current ratio of 0.93. The stock’s 50 day moving average price is $58.72 and its 200 day moving average price is $50.11. Truist Financial has a 52 week low of $29.24 and a 52 week high of $61.26.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Wednesday, January 20th. The insurance provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.19. Truist Financial had a net margin of 16.95% and a return on equity of 7.76%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the previous year, the firm posted $1.04 earnings per share.

Several institutional investors and hedge funds have recently modified their holdings of TFC. Cozad Asset Management Inc. boosted its position in Truist Financial by 2.6% during the fourth quarter. Cozad Asset Management Inc. now owns 7,225 shares of the insurance provider’s stock worth $346,000 after purchasing an additional 185 shares during the period. Heron Financial Group LLC increased its holdings in shares of Truist Financial by 1.7% during the 4th quarter. Heron Financial Group LLC now owns 11,568 shares of the insurance provider’s stock worth $596,000 after acquiring an additional 190 shares during the last quarter. Radnor Capital Management LLC increased its holdings in Truist Financial by 1.9% in the 4th quarter. Radnor Capital Management LLC now owns 10,219 shares of the insurance provider’s stock worth $490,000 after purchasing an additional 194 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in Truist Financial by 1.7% in the fourth quarter. Sunbelt Securities Inc. now owns 12,106 shares of the insurance provider’s stock worth $580,000 after acquiring an additional 203 shares in the last quarter. Finally, BKD Wealth Advisors LLC increased its position in shares of Truist Financial by 3.1% during the fourth quarter. BKD Wealth Advisors LLC now owns 6,731 shares of the insurance provider’s stock valued at $323,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 72.11% of the company’s stock.

In related news, VP Cynthia B. Powell sold 2,201 shares of the company’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $58.31, for a total value of $128,340.31. Following the completion of the sale, the vice president now owns 2,133 shares of the company’s stock, valued at $124,375.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Case sold 9,851 shares of the company’s stock in a transaction dated Wednesday, March 17th. The shares were sold at an average price of $58.39, for a total transaction of $575,199.89. Following the completion of the sale, the executive vice president now directly owns 20,583 shares of the company’s stock, valued at $1,201,841.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,094 shares of company stock worth $12,045,695. Corporate insiders own 0.35% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Friday, February 12th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, February 11th. This represents a $1.80 dividend on an annualized basis and a yield of 3.05%. Truist Financial’s dividend payout ratio (DPR) is 41.19%.

About Truist Financial

Truist Financial Corporation, a holding 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.

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