Welcome to our dedicated page for Truist Financial Corporation news (Ticker: TFC), a resource for investors and traders seeking the latest updates and insights on Truist Financial Corporation stock.
Truist Financial Corporation (NYSE: TFC) is a leading U.S. commercial bank that was formed through the merger of BB&T and SunTrust in 2019. Headquartered in Charlotte, North Carolina, the company is committed to inspiring and building better lives and communities through a comprehensive range of financial services. With a rich history dating back 275 years from its legacy banks, Truist serves approximately 12 million households across high-growth markets in the country.
Truist offers a wide array of services including retail, small business, and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. As the sixth-largest commercial bank in the U.S., Truist is a key player in these sectors.
Recent Achievements and News:
- On March 7, 2024, Truist Securities announced the addition of highly ranked analyst Jamie Cook as a managing director, expanding its equity research coverage in the industrials sector.
- On March 28, 2024, Truist Financial Corporation announced it would report its first-quarter 2024 financial results before the market opens on April 22, 2024.
- On April 4, 2024, the Truist Foundation released its 2023 Impact Report, showcasing its efforts in building career pathways and strengthening small businesses for economic mobility.
- On April 8, 2024, Sheffield Financial, a division of Truist Bank, renewed its long-term retail financing agreement with BRP US Inc., reaffirming their commitment to providing competitive financing options.
- On May 7, 2024, Truist completed the sale of its remaining stake in Truist Insurance Holdings to an investor group led by private equity firms, significantly enhancing its financial profile.
Truist is focused on leveraging technology and innovation, as evidenced by its investment in new technologies and recent strategic partnerships. The company's robust financial condition has enabled it to make significant investments in its core banking businesses and community-driven initiatives.
With an emphasis on collaborative culture and client service, Truist continues to expand its expertise and capabilities, aiming to deliver differentiated content, execution, and value for its clients. For more information, visit Truist.com.
Truist Foundation has awarded a $15.7 million grant to the Council for Adult and Experiential Learning (CAEL) to enhance career pathways in financial services for BIPOC and underserved communities. This six-year initiative aims to provide training and support to adult learners, helping them secure employment in historically inaccessible industries. By partnering with local educational institutions and workforce organizations, CAEL seeks to create a diverse talent pipeline and improve access to high-wage jobs.
Truist Financial Corporation (NYSE: TFC) has announced an increase in its prime lending rate, raising it from 3.50% to 4.00%, effective May 5, 2022. This change reflects ongoing adjustments in the financial landscape.
Truist, based in Charlotte, North Carolina, ranks as a top 10 U.S. commercial bank, boasting total assets of $544 billion as of March 31, 2022. The bank offers a comprehensive range of financial services aimed at enhancing community and economic well-being.
Truist Financial Corporation (NYSE: TFC) has acquired Long Game, an innovative gamified finance mobile app, aimed at enhancing financial wellness and client engagement. The acquisition, announced on May 3, 2022, is part of Truist's strategy to leverage technology for better client experiences and retention. Long Game's gamified approach encourages smart financial behaviors and is expected to attract millennials and Gen Z users. The integration of Long Game’s team will bolster Truist’s Innovation team and align with existing initiatives like Truist Momentum.
The Board of Directors of Truist Financial Corporation (TFC) declared a quarterly cash dividend of $0.48 per common share, payable on June 1, 2022. Shareholders on record as of May 13, 2022 will receive this payment. Additionally, cash dividends were declared for several series of preferred stock, with respective record and payment dates outlined. Total assets for Truist reached $544 billion as of March 31, 2022, reflecting the company's substantial financial position.
Truist Financial Corporation (TFC) reported a first quarter 2022 net income of $1.3 billion, or $0.99 per diluted share, remaining stable year-over-year. Adjusted earnings rose to $1.6 billion, or $1.23 per diluted share, with a 4.2% increase from the previous year. Key highlights include solid loan growth, strong expense control, and a completed core bank conversion impacting nearly seven million clients. However, fee revenues were impacted by market volatility and geopolitical uncertainties. The company acknowledges the challenges ahead but remains confident in its outlook.
Truist Financial Corporation (NYSE: TFC) announced the relocation of Truist Securities' national headquarters to a new 250,000-square-foot building at The Battery Atlanta. The construction is set to begin in the second half of 2022, with completion expected in 2024. This facility will support around 1,000 employees and feature a state-of-the-art trading floor. Truist has signed a 15-year lease and aims to strengthen its presence in Atlanta, enhancing its partnership with the Atlanta Braves.
Truist Bank, located in Charlotte, N.C., is set to redeem $1.35 billion of its 2.800% senior notes and $650 million of its floating rate senior notes on April 17, 2022. The redemption price will be 100% of the principal amount plus accrued interest. Payments will be made the next business day, April 18, 2022, due to the redemption date falling on a weekend. With over $541 billion in total assets as of December 31, 2021, Truist remains a top 10 U.S. commercial bank, offering a wide range of financial services.
Truist Financial Corporation (NYSE: TFC) has appointed Dontá L. Wilson as the leader of Retail Community Banking and Marketing. He will oversee over 2,100 branches across the Southeast, Mid-Atlantic, and Texas. Wilson's extensive experience includes roles as chief digital and client experience officer since 2018 and various leadership positions since 1995. He succeeds Brant J. Standridge, who has left for new opportunities. Wilson aims to enhance client experience by blending digital services with personal service. Truist has total assets of $541 billion as of December 31, 2021.
Truist Financial Corporation (NYSE: TFC) has raised its prime lending rate from 3.25% to 3.50%, effective March 17, 2022. This adjustment reflects the company's response to changing economic conditions. Truist, headquartered in Charlotte, North Carolina, holds a significant market presence with total assets amounting to $541 billion as of December 31, 2021. As a leading provider of diverse financial services, Truist aims to enhance the lives of individuals and communities.
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