Truist Financial Corporation (TFC), headquartered in Charlotte, NC, is a $57.6 billion financial services company offering banking, investment, wealth management, and specialized lending across the Southeastern and Mid-Atlantic U.S. TFC is expected to announce its fiscal fourth-quarter earnings for 2024 before the market opens on Thursday, Jan. 16.
Ahead of the event, analysts expect TFC to report a profit of $0.88 per share on a diluted basis, up 8.6% from $0.81 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing on another occasion. It beat the consensus estimate by 9% in the previous quarter.
For fiscal 2024, analysts expect TFC to report EPS of $3.71, up 3.3% from $3.59 in fiscal 2023.
TFC stock has climbed 17.5% over the past year, underperforming the S&P 500’s ($SPX) 23.8% gains and US Regional Banks iShares ETF’s (IAT) 20.4% gains over the same time frame.
TFC released its Q3 earnings report on Oct. 17, and the stock rose 1.7% in the next trading session. It reported earnings of $0.97 per share and revenue of $5.14 billion, beating the analysts’ expectations.
Analysts’ consensus opinion on TFC stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 21 analysts covering the stock, eight advise a “Strong Buy” rating, three have a “Moderate Buy” rating, and ten suggest a “Hold.” The average analyst price target for TFC is $50.12, indicating a potential upside of 15.5% from the current levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. More news from Barchart- Nvidia Stock 2025: What to Expect From the U.S.-China Chip War
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