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 Financial Corporation (NYSE: TFC) announced that CFO Daryl N. Bible will present at the Barclays Americas Select Franchise Conference on May 18, 2021, at 7 a.m. ET. This event will be conducted virtually, and presentation materials along with a live audio webcast will be accessible on the company's investor relations website, ir.truist.com. A replay will be available for 30 days. Truist is the sixth-largest commercial bank in the U.S., with total assets of $518 billion as of March 31, 2021.
Truist Financial Corporation (NYSE: TFC) announces the redemption of all 18,600 shares of its 5.625% Series H Non-Cumulative Perpetual Preferred Stock on June 1, 2021. Each share will be redeemed at $25, totaling $465 million for the Series H Depositary Shares. Holders will receive regular dividends for the current quarter on June 1, 2021, but all dividends will cease to accrue after the redemption date. The redemption will be processed through The Depository Trust Company by Computershare Trust Company, N.A.
Truist Financial Corporation (NYSE: TFC) has announced a multiyear partnership with Operation HOPE, aimed at enhancing financial resources and support within underserved communities. The partnership includes expanding the HOPE Inside coaching program to 1,000 branches, investing in the 1 Million Black Business Initiative, and providing digital access to financial education. Truist's financial commitment underscores its dedication to fostering economic opportunities, particularly for Black entrepreneurs. This initiative is part of Truist's broader mission to inspire and build better lives and communities.
Truist Financial Corporation (NYSE: TFC) announced a quarterly cash dividend of $0.45 per common share, payable on June 1, 2021, to shareholders of record by May 14, 2021. Additionally, dividends were declared for various series of preferred stock, including Series H ($351.5625), Series I ($1,022.22222), Series J ($1,022.22222), Series L ($2,525.00), Series M ($2,562.50), Series O ($328.125), Series P ($618.75), and Series R ($296.875), all payable on June 1 or June 15, 2021, depending on the series.
Truist Financial Corporation (NYSE: TFC) will redeem $250 million of its floating rate senior notes due June 1, 2021, on May 1, 2021. The redemption price will equal 100% of the principal amount plus accrued interest, ceasing on the redemption date. Payments will occur on the next business day, May 3, 2021, via The Depository Trust Company. As of March 31, 2021, Truist has total assets of $518 billion, positioning it as the sixth-largest commercial bank in the U.S.
Truist Financial Corporation (TFC) reported a robust start to 2021, with net income for Q1 at $1.3 billion, up 35.3% year-over-year. Earnings per share rose to $0.98, a 34.2% increase. Adjusted net income hit $1.6 billion, reflecting strong performances in insurance and investment banking, with an adjusted return on tangible common equity of 19.36%. The bank's asset quality remained stable, though there was a slight increase in loans past due. Total deposits grew 8.6% to $383.2 billion, bolstered by government stimulus efforts.
The LightStream Home Improvement Trends Survey reveals significant changes in U.S. homeowners' perspectives on their living spaces post-pandemic. Conducted among 1,300 homeowners, the survey shows that 47% are using their spaces differently, with 91% citing space constraints as a major frustration. Popular home projects include kitchen (38%) and outdoor (35%) remodels. While most homeowners plan to finance improvements through savings (66%) or credit cards (30%), many may incur high costs due to credit card interest rates averaging 18.52%. Smart financial planning is crucial for these renovations.
Truist Financial Corporation has received an "Outstanding" rating from the Federal Deposit Insurance Corporation for its Community Reinvestment Act performance during the examination from Jan. 1, 2017, to Dec. 31, 2019. The company originated nearly 40,000 mortgage loans worth $9.6 billion, funded over 26,600 affordable housing units, and issued 1,773 loans totaling $6.3 billion. Truist aims to lend or invest $60 billion to low- and moderate-income communities through its Community Benefits Plan, achieving significant targets in both mortgage lending and philanthropic efforts.
Truist Financial Corporation (NYSE: TFC) announced the redemption of $1.25 billion of its 2.050% senior notes due on May 10, 2021. The redemption will occur on April 9, 2021, at a price equal to 100% of the principal amount plus accrued interest up to the redemption date. Interest will cease to accrue after this date. Truist, headquartered in Charlotte, NC, is the sixth-largest commercial bank in the U.S. with total assets of $509 billion as of December 31, 2020.
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