Truist Financial (NYSE:TFC – Get Free Report) released its earnings results on Monday. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07, RTT News reports. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. Truist Financial updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.
Truist Financial Trading Down 1.2 %
Shares of Truist Financial stock opened at $43.61 on Thursday. Truist Financial has a 52-week low of $26.57 and a 52-week high of $44.38. The stock has a market cap of $58.35 billion, a PE ratio of -33.04, a PEG ratio of 2.11 and a beta of 1.07. The firm has a 50-day moving average of $38.64 and a 200-day moving average of $37.66. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.86.
Truist Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.
Analysts Set New Price Targets
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About Truist Financial
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.
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