High Rates, Restructuring Aid Truist (TFC) Amid Cost Woes [Yahoo! Finance]
Truist Financial Corporation (TFC)
Last truist financial corporation earnings: 4/20 05:45 am
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Source: Yahoo! Finance
Analysts seem optimistic regarding the company's earnings growth potential. Over the past 60 days, the Zacks Consensus Estimate for Truist's 2024 earnings has been revised 1% upward. In the past year, TFC shares have gained 23.5% compared with the industry's growth of 32.6%. Image Source: Zacks Investment Research However, elevated expenses and poor asset quality might hurt the company's financials to an extent. Thus, Truist currently carries a Zacks Rank #3 (Hold). Looking at its fundamentals, while TFC's net interest income declined in 2021 and the first quarter of 2024, the metric witnessed a five-year (ended 2023) compound annual growth rate (CAGR) of 16.9% on the back of decent loan demand, the merger deal and rising rates. Likewise, the company's net interest margin (NIM) improved to 3.01% in 2022 from 2.86% in 2021, driven by higher rates. While NIM declined marginally to 3.00% in the first quarter of 2024, the company is expected to witness decent growth in margins
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TFC
News
- Tiny Chain Bridge is top banker to Trump, Republican campaigns [Yahoo! Finance]Yahoo! Finance
- Truist announces planned capital distributions and stress capital buffer requirement following release of 2024 CCAR results [Yahoo! Finance]Yahoo! Finance
- Truist announces planned capital distributions and stress capital buffer requirement following release of 2024 CCAR resultsPR Newswire
- One of M&T's top executives to leave unexpectedly [Yahoo! Finance]Yahoo! Finance
- Jobs for the Future Partners with Truist Foundation to Accelerate Economic Mobility in Several Regions Across the United States [Yahoo! Finance]Yahoo! Finance
TFC
Earnings
- 4/22/24 - Beat
TFC
Sec Filings
- 6/27/24 - Form 11-K
- 5/13/24 - Form 13F-HR
- 5/10/24 - Form 8-K
- TFC's page on the SEC website