Truist Financial (NYSE:TFC – Get Free Report) issued its earnings results on Monday. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07, RTT News reports. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. Truist Financial updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.
Truist Financial Stock Down 1.4 %
TFC stock traded down $0.62 during mid-day trading on Wednesday, hitting $43.53. 3,996,292 shares of the company were exchanged, compared to its average volume of 8,508,279. 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 has a 1-year low of $26.57 and a 1-year high of $44.38. The firm has a market cap of $58.25 billion, a P/E ratio of -33.48, a P/E/G ratio of 2.15 and a beta of 1.07. The firm’s 50 day simple moving average is $38.57 and its 200 day simple moving average is $37.62.
Truist Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.78%. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.
Analysts Set New Price Targets
Read Our Latest Stock Analysis on Truist Financial
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.
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