With support from Truist Foundation, Build Better Careers program will create pathways to high-growth jobs in banking and financial services for South Florida residents without a college degree "Too many South Floridians are currently locked out of economic mobility and high-paying roles either because of insufficient access to education or systemic barriers, such as food insecurity, inadequate child care and a lack of affordable housing," said Earl Buford, president of CAEL. "This is about mobilizing educa ...

Another notable valuation metric for TFC is its P/B ratio of 1.04. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, PNC has a P/B of 1.37. Truist Financial Corporation and The PNC Financial Services Group, Inc are both sporting a Zacks Rank of # 2 (Buy) right now. Investors should feel comfortable knowing that both of these stocks have an improving earnings outlook since the Zacks Rank favors companies that have witne ...

AUSTIN, Texas, July 29, 2024 /PRNewswire/ -- AppBrilliance, a pioneer in real-time payment solutions with its cutting-edge Money API™ platform, is leveraging a recent rule change by The Clearing House to expand use-cases for Real Time Payments (RTP) to closed-loop digital wallets in the US. Companies like Starbucks™, CVS™, Dunkin™', Chick-fil-A™ and many other successful businesses have long provided engaging customer payment experiences with their closed-loop wallets, but had to rely on funding those accou ...

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].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, capitalizing on established price movements [1] Group 1: Momentum Style Score - Truist Financial Corporation (TFC) currently holds a Momentum Style Score of A, indicating strong momentum characteristics [3] - The Momentum Style Score is influenced by factors such as price changes and earnings estimate revisions [3][10] Group 2: Performance Metrics - TFC shares have increased by 4.69% over the past week, outperforming the Zacks Banks - Major Regional industry, which rose by 4.12% [7] - Over the last quarter, TFC shares have risen by 17.58%, and by 35.51% over the past year, while the S&P 500 has only increased by 9.88% and 24.06%, respectively [8] - The average 20-day trading volume for TFC is 7,215,173 shares, indicating a bullish sign with rising stock prices [9] Group 3: Earnings Outlook - In the past two months, 5 earnings estimates for TFC have been revised upwards, increasing the consensus estimate from $3.36 to $3.53 [11] - For the next fiscal year, 7 estimates have moved higher while 2 have been revised downwards [11] Group 4: Investment Recommendation - Given the strong performance metrics and positive earnings outlook, TFC is rated as a 2 (Buy) stock with a Momentum Score of A, making it a promising near-term investment option [12]

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 ...

Financial Data and Key Metrics Changes - Adjusted revenue grew by 3% on a linked quarter basis, driven by a 4.5% increase in net interest income due to balance sheet repositioning [6][47] - Adjusted net income available to common shareholders was $1.2 billion or $0.91 per share, excluding certain gains and losses [11][16] - The CET1 ratio increased from 10.1% to 11.6% due to the sale of Truist Insurance Holdings and organic capital generation [22][47] Business Line Data and Key Metrics Changes - Average loans decreased by 0.7% sequentially, with commercial loans down by $1.3 billion or 0.7% and consumer loans down by $1 billion or 0.9% [17] - Adjusted non-interest income decreased by $8 million or 0.6% relative to the first quarter, primarily due to lower investment banking and trading income [19] - Digital checking account production among Gen Z and millennial clients increased by 42% year-over-year [7] Market Data and Key Metrics Changes - Average deposits decreased by 0.3% sequentially, with non-interest bearing deposits down by 1.2% [18] - Total deposit costs increased by 6 basis points sequentially to 2.09% [18] - The net charge-off ratio decreased by 6 basis points to 58 basis points, reflecting lower consumer losses [20] Company Strategy and Development Direction - The company is focused on growing its core consumer and wholesale banking businesses while maintaining expense discipline [12][26] - Investments in digital capabilities and enhancements to enterprise platforms are aimed at improving client engagement and satisfaction [7][28] - The company plans to return capital to shareholders through a $5 billion share repurchase program [12][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth opportunities despite current slow loan demand [12][29] - The company anticipates a 1% to 2% increase in revenue for Q3 2024 and expects net interest income to rise by 2% to 3% [23][24] - Management acknowledged the need for cautious optimism regarding client activity and loan demand [33][35] Other Important Information - The company completed the divestiture of Truist Insurance Holdings, generating significant capital for growth and shareholder returns [14][42] - The company made a $150 million charitable contribution to the Truist Foundation from the proceeds of the sale [42] - The company is committed to maintaining flat adjusted expenses in 2024 compared to 2023 [54] Q&A Session All Questions and Answers Question: What are the drivers of sequential NII growth over the next few quarters? - Management expects growth to be driven by increased client loan demand and core balances, but remains cautious about timing due to current market uncertainties [33][35] Question: When do you expect loan growth to turn positive? - Management indicated that while loan balances are stabilizing, they do not expect significant growth in the near term due to client caution [65][66] Question: How will another rate cut affect NII guidance? - Management noted that while one rate cut is expected in November, additional cuts could provide benefits, but they remain cautious about the timing and impact [98][99] Question: What is the outlook for investment banking revenues? - Management expressed confidence in the investment banking business, noting that they are gaining market share and expect continued momentum [75][102] Question: What is the expected CET1 ratio moving forward? - Management confirmed that the CET1 ratio is expected to remain stable at 11.6% unless growth opportunities arise that require additional capital [83][84]

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 ...