What is Zacks Research’s Forecast for TFC FY2024 Earnings?

Truist Financial Co. (NYSE:TFC) – Zacks Research boosted their FY2024 earnings per share (EPS) estimates for Truist Financial in a report issued on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the insurance provider will post earnings per share of $3.65 for the year, up from their prior estimate of $3.63. The consensus estimate for Truist Financial’s current full-year earnings is $3.70 per share. Zacks Research also issued estimates for Truist Financial’s Q4 2025 earnings at $1.07 EPS, FY2025 earnings at $3.84 EPS, Q1 2026 earnings at $1.04 EPS, Q3 2026 earnings at $1.08 EPS and FY2026 earnings at $4.31 EPS.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley lifted their target price on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Stephens restated an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Finally, StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has an average rating of “Hold” and a consensus price target of $46.37.

Truist Financial Price Performance

NYSE:TFC opened at $46.91 on Thursday. Truist Financial has a 52 week low of $31.23 and a 52 week high of $47.57. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $62.27 billion, a P/E ratio of -32.80, a P/E/G ratio of 1.92 and a beta of 1.05. The stock’s fifty day moving average is $43.56 and its two-hundred day moving average is $41.45.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Hedge Funds Weigh In On Truist Financial

A number of large investors have recently modified their holdings of the business. Rehmann Capital Advisory Group raised its stake in shares of Truist Financial by 15.4% during the 3rd quarter. Rehmann Capital Advisory Group now owns 9,468 shares of the insurance provider’s stock worth $405,000 after buying an additional 1,265 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Truist Financial during the 3rd quarter worth approximately $1,452,000. Coldstream Capital Management Inc. raised its stake in shares of Truist Financial by 11.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 20,764 shares of the insurance provider’s stock worth $894,000 after buying an additional 2,171 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Truist Financial by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after buying an additional 456,412 shares in the last quarter. Finally, Vestcor Inc raised its stake in shares of Truist Financial by 9.5% during the 3rd quarter. Vestcor Inc now owns 25,992 shares of the insurance provider’s stock worth $1,112,000 after buying an additional 2,265 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

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.