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Truist Financial Corporation (TFC) |
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Price: $43.2600
$0.77 
1.812%
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| Day's High:
| $43.49
| Week Perf:
| 3 %
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| Day's Low: |
$ 42.75 |
30 Day Perf: |
3.92 % |
| Volume (M): |
15,640 |
52 Wk High: |
$ 45.31 |
| Volume (M$): |
$ 676,565 |
52 Wk Avg: |
$37.56 |
| Open: |
$42.78 |
52 Wk Low: |
$26.95 |
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| Market Capitalization (Millions $) |
57,888 |
| Shares
Outstanding (Millions) |
1,338 |
| Employees |
49,037 |
| Revenues (TTM) (Millions $) |
- |
| Net Income (TTM) (Millions $) |
-1,640 |
| Cash Flow (TTM) (Millions $) |
-4,940 |
| Capital Exp. (TTM) (Millions $) |
0 |
Truist Financial Corporation
Truist Financial Corporation Overview
Truist Financial Corporation is a prominent banking and financial services institution in the United States, formed in December 2019 through the merger of BB&T Corporation and SunTrust Banks, Inc. The companys headquarters is located in Charlotte, North Carolina. As one of the largest financial institutions in the country, Truist operates over 2,000 branches and approximately 3,000 ATMs across 15 states and Washington, D.C.
Service Offerings
Truist provides a comprehensive array of banking and financial services tailored to meet the needs of individuals, businesses, and institutions:
1. Personal Banking: Truist offers a variety of personal banking products, such as:
- Checking and Savings Accounts: A range of options to help customers manage their finances.
- Credit Cards: Various credit card options designed for different user needs.
- Mortgage Loans: Home financing solutions, including conventional and government-backed loans.
- Home Equity Loans and Lines of Credit: Accessible financial products for leveraging home equity.
- Personal Loans: Customized loans for personal needs.
- Student Loans: Financing options for education-related expenses.
- Digital Banking: Truist provides robust online and mobile banking platforms for easy account management, bill payments, money transfers, and accessing credit scores.
2. Business Banking: The business banking division caters to the needs of small, mid-sized, and large enterprises, offering:
- Treasury Management: Solutions to optimize cash flow and manage liquidity.
- Merchant Services: Payment processing solutions for businesses.
- International Services: Assistance with foreign transactions and international trade.
- Financing and Leasing: Credit facilities and equipment leasing options to support business operations.
- Credit and Debit Card Services: Tailored payment solutions for businesses.
- Industry-Specific Services: Specialized offerings for sectors such as healthcare, real estate, and government.
3. Wealth Management: Truist's wealth management services encompass:
- Financial Planning: Personalized financial strategies to meet long-term goals.
- Investment Management: Active and passive investment strategies tailored to client needs.
- Trust and Estate Services: Expertise in managing trusts and planning estates.
4. Asset Management: Truist's asset management division offers:
- A diverse range of investment strategies including fixed income, equity investments, and multi-asset class approaches.
5. Insurance Services: The insurance division provides a variety of products, including:
- Home Insurance
- Auto Insurance
- Life Insurance
- Health Insurance
6. Capital Markets: Truists capital markets group supports clients with:
- Investment Banking: Advisory services for mergers and acquisitions, capital raising, and financial restructurings.
- Underwriting: Assisting companies in issuing stock and debt securities.
- Financial Advisory Services: Guidance on financial strategies and transactions.
Corporate Social Responsibility
Truist is deeply committed to social responsibility, actively engaging in programs that benefit the communities it serves. The corporate social responsibility initiatives encompass various areas:
- Affordable Housing: Supporting housing stability and accessibility.
- Community Development: Investments in local economies to foster growth and sustainability.
- Education: Programs that promote educational access and resources.
- Disaster Recovery: Assistance in response to natural disasters and community crises.
Innovation and Technology
Truist emphasizes technological advancement and innovation in its operations, focusing on:
- Digital Banking Solutions: Significant investments in enhancing user experience through robust mobile and online platforms.
- Fintech Partnerships: Collaborations with fintech companies to integrate cutting-edge technologies into banking offerings, enhancing service delivery and customer engagement.
Market Presence and Employment
Truist is publicly traded on the New York Stock Exchange under the ticker symbol TFC. The company has a substantial market capitalization, reflecting its significant position in the financial services sector. Truist employs over 57,000 individuals, demonstrating its role as a major employer within the banking industry.
Through its extensive range of services, commitment to community, focus on innovation, and robust operational framework, Truist Financial Corporation continues to play a vital role in the financial landscape of the United States, striving to meet the diverse needs of its clientele across various sectors.
Company Address: 214 North Tryon Street Charlotte, 28202 NC
Company Phone Number: 733-2000 Stock Exchange / Ticker: NYSE TFC
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Customers Net Income fell by |
TFC's Customers Net Profit Margin fell to |
-39.95 % |
11.62 %
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| Stock Performances by Major Competitors |
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| Truist Financial Corporation
Truist Financial Corporation, a prominent player in the commercial banking industry, faced a challenging fiscal fourth quarter of 2023, as evidenced by its disappointing financial results. However, amidst these difficulties, Guardian Capital Group Limited, a leading wealth management firm, saw an opportunity to expand its presence in the industry. In a strategic move, Guardian Capital Group announced its acquisition of Truist Financial Corporation's subsidiary, Sterling Capital Management LLC. This article explores the implications of Truist Financial Corporation's financial results and analyzes the potential impact of the acquisition on both companies.
1. Decline in Earnings and Revenue:
Truist Financial Corporation experienced a significant setback in the fiscal fourth quarter of 2023, reporting a loss of $-3.87 per share compared to earnings of $1.16 per share in the same period a year ago. Earnings per share also fell from $0.80 per share in the preceding reporting period. Additionally, the company witnessed a decline in revenue, depreciating by -5.633% to $5.13 billion compared to $5.43 billion in the previous year's corresponding period. Moreover, sequential revenue decreased by -0.947% from $5.18 billion.
2. Divergence from Industry Trend:
In contrast to Truist Financial Corporation's financial performance, the rest of the commercial banking industry saw a 0.15% rise in revenue during the fourth quarter of 2023, compared to the same period a year ago. This divergence suggests that Truist Financial Corporation faced unique challenges that impacted its financial performance.
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| Merger and Acquisition
Published Fri, Feb 2 2024 12:20 PM UTC
Guardian Capital Group Limited to Acquire Sterling Capital Management LLC, Strengthening its Position in Wealth Management Sector
TORONTO, Feb. 02, 2024 - In a strategic move to expand its presence in the wealth management industry, Guardian Capital Group Limited (TSX: GCG) (TSX: GCG.A) announced today that its subsidiary, Guardian Capital LLC, will acquire Sterling Capi...
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| Truist Financial Corporation
Truist Financial Corporation, a prominent commercial bank, recently released its financial report for the period ending September 30, 2023, revealing troubling indicators of a declining performance. With a significant drop in earnings per share (EPS), revenue, and net margin, Truist Financial Corporation seems to be facing significant challenges. Furthermore, the steady decline in the company's share price over the past 3 and 12 months suggests a lack of investor confidence. This article will delve into the various aspects that contribute to Truist Financial Corporation's bearish outlook.
Earnings Per Share and Revenue Plummet:
The financial period ending September 30, 2023, highlighted a disturbing drop in Truist Financial Corporation's EPS by -30.43% to $0.80 per share. This decline can be primarily attributed to a staggering -7.803% decrease in revenue to $5.18 billion compared to the prior reporting season when revenue reached $5.38 billion. Such a decline indicates significant challenges in the company's ability to generate revenue and leads to concerns about its future profitability.
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| Truist Financial Corporation
Truist Financial Corporation, a leading financial services provider, recently announced disappointing financial numbers for the April to June 2023 time-frame. The company's earnings per share (EPS) deteriorated by -7.07% to $0.92 from $0.99 compared to the same period last year. Additionally, revenue sunk by -0.738% to $5.38 billion year on year.
Compared to the prior quarter, Truist Financial Corporation experienced a decline in profits from $1.05 per share, with revenue decreasing by -3.929% from $5.60 billion. Net profits for this time-frame amounted to $1,345.000 million, representing a -5.01% decrease from the corresponding period the previous year.
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| Truist Financial Corporation
Truist Financial Corporation, a leading name in the Financial sector, recently revealed its first quarter fiscal results for 2023. While the figures showed a decline in net income, the company still managed to yield a respectable return on asset (ROA) of 1.09%. Although this is lower than their average ROA of 1.19%, it is still noteworthy given the challenging market conditions.
Despite this, it is encouraging to note that Truist Financial Corporation's overall ranking has advanced in the Mar 31 2023 quarter. ROA ranking has climbed up to 441 from the total ROA ranking in the fourth quarter of 2022 at 2430. As the market stabilizes, we expect to see Truist Financial Corporation's position in the ranking further improve.
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| Per Share |
Current |
| Earnings (TTM) |
-1.53 $ |
| Revenues (TTM) |
10.12 $
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| Cash Flow (TTM) |
- |
| Cash |
43.57 $
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| Book Value |
47.7 $
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| Dividend (TTM) |
1.93 $ |
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| Per Share |
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| Earnings (TTM) |
-1.53 $
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| Revenues (TTM) |
10.12 $ |
| Cash Flow (TTM) |
- |
| Cash |
43.57 $
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| Book Value |
47.7 $ |
| Dividend (TTM) |
1.93 $ |
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5.17%