Truist Financial (NYSE:TFC – Get Free Report) released its earnings results on Monday. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12, RTT News reports. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share.
Truist Financial Stock Performance
Shares of NYSE TFC traded down $0.05 during midday trading on Wednesday, hitting $38.79. 6,992,508 shares of the company’s stock were exchanged, compared to its average volume of 9,669,010. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $51.77 billion, a PE ratio of -29.20, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08. Truist Financial has a 12 month low of $25.56 and a 12 month high of $39.29. The company’s 50 day moving average price is $36.76 and its 200 day moving average price is $34.70.
Truist Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.36%. Truist Financial’s dividend payout ratio is -157.58%.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Analysis on Truist Financial
Insider Buying and Selling
In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by insiders.
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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