Core Viewpoint - The recent upgrade of Truist Financial to a Zacks Rank 2 (Buy) reflects an upward trend in earnings estimates, indicating a positive earnings outlook that could favorably impact its stock price [2][4][9]. Earnings Estimates and Revisions - Truist Financial is expected to earn $3.53 per share for the fiscal year ending December 2024, representing a year-over-year change of -1.7% [7]. - Over the past three months, the Zacks Consensus Estimate for Truist Financial has increased by 6.5%, indicating a positive revision trend [11]. - The Zacks Rank system correlates changes in earnings estimates with near-term stock movements, suggesting that rising estimates can lead to higher stock prices [12][10]. Zacks Rating System - The Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings across over 4000 stocks, with only the top 20% receiving favorable ratings based on earnings estimate revisions [3][14]. - Stocks rated Zacks Rank 1 (Strong Buy) have historically generated an average annual return of +25% since 1988, showcasing the effectiveness of the system [13].

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CHARLOTTE, N.C., July 23, 2024 /PRNewswire/ -- The Board of Directors of Truist Financial Corporation (NYSE: TFC) declared a regular quarterly cash dividend of $0.52 per common share, payable on September 3, 2024, to shareholders of record at the close of business on August 9, 2024. Notes: (1)In the table, dividends per share and dividends per depositary share for Series I, Series J, and Series L are rounded to the hundredthousandths position for the convenience of the reader. (2)In accordance with the Amen ...

Truist Financial Corporation TFC posted better-than-expected quarterly earnings on Monday. Truist Finl reported quarterly earnings of 91 cents per share which beat the analyst consensus estimate of 82 cents per share. The company reported quarterly sales of $5.018 billion which beat the analyst consensus estimate of $4.805 billion. This is a 15.21% decrease over sales of $5.918 billion the same period last year, according to data from Benzinga Pro. Truist Financial shares closed at $43.78 on Monday. These a ...

Key Takeaways Truist Financial (TFC) on Monday posted second-quarter profit that fell by a third from last year, but its stock rose as adjusted earnings per share (EPS) beat analysts' expectations. The net income drop is partially attributable to the sale of a securities portfolio that resulted in $5.1 billion in after-tax losses, along with an after-tax donation of $115 million to the Truist Foundation. However, adjusted EPS came in at $0.91, topping analysts' expectation of $0.85. "While loan demand does ...

Truist Financial Corporation (NYSE:TFC) Q2 2024 Earnings Conference Call July 22, 2024 8:00 PM ET Company Participants Brad Milsaps - Investor Relations William Rogers - Chairman and Chief Executive Officer Mike Maguire - Chief Financial Officer Clarke Starnes - Vice Chair and Chief Risk Officer Conference Call Participants Ryan Nash - Goldman Sachs Ken Usdin - Jefferies Scott Siefers - Piper Sandler Erika Najarian - UBS Betsy Graseck - Morgan Stanley John Pancari - Evercore ISI Mike Mayo - Wells Fargo Secu ...

For the quarter ended June 2024, Truist Financial Corporation (TFC) reported revenue of $4.97 billion, down 16.1% over the same period last year. EPS came in at $0.91, compared to $0.95 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $4.87 billion, representing a surprise of +1.89%. The company delivered an EPS surprise of +8.33%, with the consensus EPS estimate being $0.84. While investors scrutinize revenue and earnings changes year-over-year and how they compare ...

Adjusted Revenues Down, Adjusted Expenses Fall Non-interest expenses were $3.09 billion, up 1.6%. Excluding certain non-recurring items, adjusted non-interest expenses declined 3% to $2.81 billion. The decline was mainly attributable to lower personnel expenses. Our estimate for adjusted non-interest expenses was $2.85 billion. Provision for credit losses was $451 million in the second quarter, down 16.2% from the prior-year quarter. Our estimate for provisions was $525.5 million. Major Developments In aggr ...

Company Performance - Truist Financial reported quarterly earnings of $0.91 per share, exceeding the Zacks Consensus Estimate of $0.84 per share, but down from $0.95 per share a year ago [5] - The company posted revenues of $4.97 billion for the quarter, surpassing the Zacks Consensus Estimate by 1.89%, but down from $5.92 billion year-over-year [6] - The company has surpassed consensus EPS estimates three times over the last four quarters [11] Earnings Expectations - The current consensus EPS estimate for the upcoming quarter is $0.84 on revenues of $5 billion, and for the current fiscal year, it is $3.44 on revenues of $19.75 billion [14] - The sustainability of the stock's immediate price movement will depend on management's commentary during the earnings call [2] Industry Context - Truist Financial belongs to the Zacks Banks - Major Regional industry, which is currently ranked in the top 13% of over 250 Zacks industries [9] - The stock has added approximately 14.9% since the beginning of the year, compared to the S&P 500's gain of 15.4% [12]

Quarterly Performance Summary Truist Financial Corporation Second Quarter 2024 Ta b l e o f C o n t e n t s Q u a r t e rly P e rfo r m a n c e S u m m a r y T r uis t Fin a n cial C o r p o r a tio n | P | a | g | e | Fin | a | n | cial | Hig | hlig | h | t | s | 1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | - ...