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 the redemption of all outstanding shares of its 5.200% Series F and Series G Non-Cumulative Perpetual Preferred Stock, including 18 million and 20 million depositary shares respectively. The redemptions will take place on March 1, 2021, at a redemption price of $25 per depositary share, equivalent to $25,000 per preferred share. Accrued dividends will not be included in the redemption price. Payment will be made through Computershare Trust Company, N.A., the appointed redemption agent.
Truist Financial Corporation (NYSE: TFC) has sold its institutional 401(k) investment advisory services to OneDigital and signed agreements to sell its recordkeeping businesses to Ascensus and Empower Retirement. The OneDigital sale, which involves about 1,200 plans with $10 billion in assets, closed on December 31, 2020. Ascensus and Empower are set to acquire the recordkeeping businesses, each managing around $5 billion in assets. Truist aims to focus on growth and strategic investments in wealth management amid industry consolidation.
Truist Financial Corporation (NYSE: TFC) has announced a redemption of all outstanding $1 billion of its 2.150% Series G Senior Notes and $300 million of its Series G Floating Rate Senior Notes, both due February 1, 2021. The redemption will take place on January 1, 2021, with the price set at 100% of the principal plus accrued interest. Payments will occur on the next business day, January 4, 2021. Truist is the sixth-largest commercial bank in the U.S., with total assets of $499 billion as of September 30, 2020.
Truist Financial Corporation (NYSE: TFC) will report its fourth-quarter 2020 financial results on January 21, 2021. The earnings call will start at 8 a.m. ET, featuring insights from CEO Kelly S. King and CFO Daryl N. Bible. Investors can join the call via a live audio webcast or by phone at 866-519-2796 using passcode 391805. Additionally, Truist has adjusted its third-quarter 2021 earnings call to October 15, 2021. The company, headquartered in Charlotte, NC, manages total assets of $499 billion as of September 30, 2020.
On December 3, 2020, the American Red Cross recognized Truist Foundation for its commitment to disaster relief through a $1 million annual grant as part of the Annual Disaster Giving Program (ADGP). This funding enables the Red Cross to prepare for and respond to disasters nationwide, offering essential resources, trained volunteers, and support for affected communities. The partnership ensures rapid mobilization in times of crisis and helps maintain operations during emergencies like the COVID-19 pandemic.
Truist Financial Corporation's Chairman and CEO, Kelly S. King, will present at the Goldman Sachs U.S. Financial Services Conference on December 8, 2020, at 10 a.m. ET. This conference will occur virtually.
A live audio webcast and presentation materials will be accessible on ir.truist.com during the conference, with a replay available for 30 days.
Truist, based in Charlotte, North Carolina, is the sixth-largest commercial bank in the U.S. with $499 billion in assets as of September 30, 2020.
Truist Financial Corporation (NYSE: TFC) announced the hiring of Sal Karakaplan as head of its newly formed Enterprise Payments Group. This group aims to enhance the company’s strategy and execution across its payments businesses, focusing on next-generation payment solutions. Karakaplan, with over 20 years in the payments sector including roles at JPMorgan Chase and MasterCard, will lead initiatives to strengthen Truist's payment offerings. Truist, the sixth-largest U.S. bank, seeks to leverage its scale to deliver innovative solutions to clients.
Truist Financial Corporation has awarded a $2.5 million grant to TechSoup to support the TechSoup COVID Recovery Fund, aimed at helping grassroots nonprofits manage technology challenges during the pandemic. This grant, the largest received by the fund, will benefit over 1,000 nonprofits across 15 states, allowing them to acquire remote-work tools and cloud-based solutions. The initiative is part of Truist's broader Truist Cares effort, which seeks to assist nonprofits and communities affected by COVID-19.
Truist Financial Corporation President and COO, William H. Rogers, Jr., will represent the company at the Bank of America Securities Future of Financials Conference on November 10, 2020, at 11:20 a.m. ET. This virtual conference will include a live audio webcast, along with presentation materials available on ir.truist.com, with a replay accessible for 30 days. Headquartered in Charlotte, N.C., Truist is the sixth-largest U.S. commercial bank, boasting total assets of $499 billion as of September 30, 2020.
Truist Financial Corporation's CFO, Daryl N. Bible, will present at the BancAnalysts Association of Boston Conference on November 6, 2020, at 8 a.m. ET. The event will take place virtually, and interested parties can access a live audio webcast along with presentation materials at ir.truist.com. A replay will be available for 30 days following the conference. As of September 30, 2020, Truist, the sixth-largest U.S. commercial bank, holds total assets of $499 billion.
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