Welcome to our dedicated page for Truist Finl news (Ticker: TFC), a resource for investors and traders seeking the latest updates and insights on Truist Finl stock.
Truist Financial Corporation (NYSE: TFC) is a top‑10 U.S. commercial bank headquartered in Charlotte, North Carolina, with leading market share in many high‑growth markets. This news page aggregates coverage of Truist’s activities across consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses.
Investors and observers can follow earnings‑related announcements, including quarterly financial results, earnings call details, and investor conference appearances, which Truist regularly discloses through press releases and Form 8‑K filings. The news flow also highlights capital actions such as share‑repurchase authorizations, preferred stock redemptions, and debt issuances, all of which are relevant for understanding the company’s capital structure and funding strategy.
Truist’s news frequently covers leadership appointments and organizational changes in areas like structured credit, technology, data, and operations, reflecting its focus on digital transformation and client experience. Updates on digital banking enhancements—including electronic direct deposit switching, AI‑enhanced tools like Truist Assist and Truist Insights, and improvements to its wealth management platform—provide insight into how the bank is evolving its service model.
Coverage of Truist Securities and Truist Wealth appears in stories about expanded equity research coverage, capital markets capabilities, and wealth management initiatives. By monitoring this page, readers can track how Truist develops its wholesale, capital markets, and wealth businesses alongside its core commercial banking franchise.
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The Board of Directors of Truist Financial Corporation (NYSE: TFC) announced a regular quarterly cash dividend of $0.52 per common share, payable on June 1, 2023. Shareholders must be on record by the close of business on May 12, 2023.
Dividends were also declared for various preferred stocks, including the Series I, J, L, M, O, P, and R, with payment dates generally set for June 15, 2023 or June 1, 2023 for specific series. The total asset value of Truist was $574 billion as of March 31, 2023.
Truist Foundation, aligned with Truist Financial Corporation (NYSE: TFC), is dedicated to fostering equitable development across the Carolinas. Under the leadership of Mark Little, NCGrowth collaborates with local businesses to create sustainable job opportunities. Recently, a century-old family farm, historically owned by descendants of enslaved individuals, benefitted from NCGrowth's efforts by connecting with a boutique grocer, enhancing distribution and market reach. Truist Foundation, established in 2020, focuses its investments on career mobility and small business growth, ensuring communities access improved quality of life. For more insights on their initiatives, you can listen to a discussion between Truist Foundation President Lynette Bell and Mark Little.
Truist Financial Corporation (NYSE: TFC) reported a net income of $1.4 billion, or $1.05 per diluted share for Q1 2023, reflecting a 47% increase in PPNR compared to Q1 2022. Key financial highlights include:
- Net interest income of $3.92 billion, down 2.8% from Q4 2022.
- Total revenue of $6.15 billion, a 15% increase year-over-year.
- Average loans rose 1.7%, while average deposits decreased 1.2%.
Capital and liquidity remain strong with a CET1 ratio of 9.1%. The sale of a 20% minority stake in Truist Insurance Holdings in April added approximately 30 basis points to capital ratios. Overall, the bank demonstrates resilience in a challenging market.
On April 17, 2023, Truist Financial Corporation (NYSE: TFC) announced a generous $5.05 million gift to the Atrium Health Foundation as part of their 'Giving Hope' campaign. This funding aims to enhance health equity and workforce development in underserved communities in Charlotte, North Carolina. A significant portion, $4.5 million over three years, will bolster initiatives such as the launch of two mobile primary care units, expansion of the community doulas program, and creation of a STEM learning laboratory. Additionally, $550,000 will support career pathways for justice-involved individuals through Atrium Health's programs. This partnership underlines Truist's commitment to improving health outcomes and economic mobility for vulnerable groups.
On April 3, 2023, the Editorial Advisory and Securities Review Committee of BetterInvesting Magazine highlighted United Parcel Service Inc. (NYSE: UPS) as its "Stock to Study" and Truist Financial Corp. (NYSE: TFC) as its "Undervalued Stock" for the June 2023 issue. The S&P 500 and Nasdaq Composite gained over 7% and 16%, respectively, in Q1 2023, illustrating the importance of long-term investing strategies. BetterInvesting encourages investors to use the Stock Selection Guide to evaluate investment opportunities and to learn about stock market principles for informed decision-making.
On April 3, 2023, Truist (NYSE: TFC) completed the sale of a 20% stake in Truist Insurance Holdings to Stone Point Capital for $1.95 billion, valuing the subsidiary at $14.75 billion. This strategic move enhances Truist Insurance Holdings' growth potential while maintaining Truist's 80% majority stake. The transaction is expected to improve Truist's Common Equity Tier 1 ratio by approximately 30 basis points, with no significant impact on earnings per share projected. The partnership with Stone Point aims to bolster competitive positioning in the consolidating insurance industry.
Albany Community Together, Inc. received a $1 million grant from Truist Foundation to develop The Table of Southwest Georgia, a Community HUB aimed at addressing social determinants of health and enhancing economic prosperity. The initiative, in collaboration with the Southwest Georgia Project for Community Education and Phoebe Putney Memorial Health Systems, will support local entrepreneurs, particularly black and rural farmers, by providing access to capital and resources. This project aims to improve community health outcomes through a Health Equity Institute and expand local agriculture and food access.
Truist Financial Corporation (NYSE: TFC) is set to report its first-quarter 2023 financial results on April 20, 2023, before market opening. CEO Bill Rogers and CFO Mike Maguire will lead a conference call at 8 a.m. ET to discuss the earnings. Investors can access a live audio webcast of the call on the company’s investor relations website, with a replay available for 30 days. As of December 31, 2022, Truist held total assets of $555 billion, positioning itself as a top 10 U.S. commercial bank and maintaining leader status in several high-growth markets.