Truist Financial (NYSE:TFC) announced its earnings results on Thursday. The insurance provider reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09, RTT News reports. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.48 billion. Truist Financial had a net margin of 17.32% and a return on equity of 8.07%. Truist Financial’s revenue was up 85.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share.
Shares of NYSE:TFC opened at $42.23 on Thursday. The firm’s 50 day moving average price is $39.16 and its 200 day moving average price is $37.02. The stock has a market cap of $56.91 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.41. Truist Financial has a fifty-two week low of $24.01 and a fifty-two week high of $56.92. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.68.
TFC has been the subject of several research analyst reports. ValuEngine raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd. TheStreet raised shares of Truist Financial from a “c+” rating to a “b-” rating in a research report on Thursday, October 8th. Zacks Investment Research raised shares of Truist Financial from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a research report on Friday, August 21st. Raymond James increased their price target on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, September 18th. Finally, Morgan Stanley increased their price target on shares of Truist Financial from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Truist Financial currently has a consensus rating of “Buy” and an average price target of $44.68.
Truist Financial Company Profile
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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