Truist Financial (NYSE:TFC) posted its quarterly earnings results on Thursday. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.88 by $0.09, RTT News reports. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Truist Financial had a return on equity of 8.07% and a net margin of 17.32%. The firm’s revenue was up 85.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS.
Truist Financial stock opened at $42.23 on Thursday. The stock’s 50 day moving average price is $39.16 and its 200 day moving average price is $37.02. The firm has a market capitalization of $56.91 billion, a PE ratio of 13.62, a price-to-earnings-growth 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.
Several analysts have commented on TFC shares. Morgan Stanley lifted their price target on Truist Financial from $37.00 to $39.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. JPMorgan Chase & Co. lifted their price target on Truist Financial from $40.00 to $43.50 in a report on Tuesday, October 6th. Raymond James lifted their price target on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, September 18th. TheStreet upgraded Truist Financial from a “c+” rating to a “b-” rating in a report on Thursday, October 8th. Finally, Wolfe Research assumed coverage on Truist Financial in a report on Friday, July 31st. They set an “outperform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $44.68.
About Truist Financial
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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