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Truist Financial Corporation

TFC

Equity

ISIN US89832Q1094 / Valor 51326242

New York Stock Exchange, Inc (2024-12-24)
USD 43.99+1.03%

Truist Financial Corporation
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About company

Truist Financial Corporation is a financial services company that offers a wide range of banking products and services, including loans and deposit accounts, through its affiliate Truist Bank. Additionally, the company provides trust and investment management services through Truist Bank and Truist Delaware Trust Company. Securities, brokerage accounts, and insurance products are offered through Truist Investment Services, Inc., and P.J. Robb Variable, LLC. Truist also offers investment advisory services through Truist Advisory Services, Inc., GFO Advisory Services, LLC, Sterling Capital Management, LLC, and Precept Advisory Group, LLC. McGriff Insurance Services, LLC, provides insurance products and services, including life insurance products.

Summarized from source with an LLMView SourceSector: Finance

Latest Results (17.12.2024):

Net Income and Earnings Per Share

In the third quarter of 2024, Truist Financial Corporation reported a net income available to common shareholders of $1.3 billion, translating to $0.99 per diluted share. This performance was driven by strong revenue growth, disciplined expense management, and stable asset quality.

Total Revenue Growth

Truist Financial Corporation's total revenues for the third quarter of 2024 increased significantly, reaching $6.8 billion. This growth was primarily attributed to higher net interest income and noninterest income, with net interest income rising by 2.2% and noninterest income increasing by 3.1%.

Noninterest Expense and Efficiency

During the third quarter of 2024, Truist Financial Corporation's noninterest expense decreased by 5.4%. However, when adjusted, noninterest expense saw a slight increase of 0.9%, reflecting higher professional fees and outside processing expenses, partially offset by lower personnel expenses.

Capital and Shareholder Returns

Truist Financial Corporation maintained strong capital levels in the third quarter of 2024, repurchasing $500 million in common shares. This resulted in a dividend and total payout ratio of 52% and 90%, respectively. The company's CET1 ratio stood at 11.6%, indicating robust capital adequacy.

Asset Quality and Loan Performance

Asset quality remained solid for Truist Financial Corporation in the third quarter of 2024. Nonperforming loans to total loans increased slightly by two basis points, while the allowance for loan and lease losses (ALLL) ratio rose by three basis points. The net charge-off ratio decreased by three basis points, driven by lower net charge-offs in the commercial real estate portfolio.

Summarized from source with an LLMView Source

Key figures

19.7%1Y
-23.9%3Y
-21.8%5Y

Performance

26.1%1Y
34.9%3Y
42.1%5Y

Volatility

Market cap

58398 M

Market cap (USD)

Daily traded volume (Shares)

629,811

Daily traded volume (Shares)

1 day high/low

43.99 / 43.41

1 day high/low (USD)

52 weeks high/low

0.00 / 0.00

52 weeks high/low (USD)

Dividend ex-date

01 January, 2022

Dividend ex-date

Dividend

0.00

Dividend (USD)

Dividend yield (p.a.)

0.00%

Dividend yield (p.a.)

0.002022
0.002023
0.002024

Est dividend (USD)

0.00%2022
0.00%2023
0.00%2024

Est dividend yield

P/E ratio

10.00

P/E ratio

00.002022
00.002023
00.002024

Est P/E ratio

EPS

0.00

EPS (USD)

0.002022
0.002023
0.002024

Est EPS (USD)

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