FY2024 EPS Forecast for Truist Financial Raised by Analyst

Truist Financial Co. (NYSE:TFC) – Stock analysts at Zacks Research raised their FY2024 EPS estimates for Truist Financial in a research report issued to clients and investors on Thursday, November 7th. Zacks Research analyst R. Department now expects that the insurance provider will post earnings of $3.63 per share for the year, up from their prior forecast of $3.55. 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 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.98 EPS, Q4 2025 earnings at $1.06 EPS, FY2025 earnings at $3.82 EPS, Q1 2026 earnings at $1.03 EPS, Q2 2026 earnings at $1.09 EPS and FY2026 earnings at $4.35 EPS.

Several other equities analysts have also issued reports on TFC. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group dropped their price objective on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Finally, Morgan Stanley boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.02.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $46.44 on Monday. The firm has a 50 day moving average of $42.88 and a 200 day moving average of $40.97. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial has a 52 week low of $28.97 and a 52 week high of $47.03. The company has a market capitalization of $61.65 billion, a price-to-earnings ratio of -32.41, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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 company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. LPL Financial LLC raised its position in shares of 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 purchasing an additional 630,628 shares during the last quarter. Tradewinds LLC. raised its position in shares of Truist Financial by 0.5% during the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after purchasing an additional 222 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Truist Financial by 34.5% during the 3rd quarter. Intech Investment Management LLC now owns 19,390 shares of the insurance provider’s stock worth $829,000 after purchasing an additional 4,975 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Truist Financial by 7.7% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 483,801 shares of the insurance provider’s stock worth $20,692,000 after purchasing an additional 34,543 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in shares of Truist Financial by 10.9% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 9,548 shares of the insurance provider’s stock worth $408,000 after purchasing an additional 938 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Announces Dividend

The business 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 of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.48%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

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.