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 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.
Truist Financial Corporation (NYSE: TFC) has announced the schedule for its upcoming quarterly earnings conference calls in 2021. These calls will take place at 8:00 a.m. ET on the following dates: Fourth-quarter on January 21, First-quarter on April 15, Second-quarter on July 15, and Third-quarter on October 19. As of September 30, 2020, Truist holds total assets of $499 billion and is recognized as the sixth-largest commercial bank in the U.S. The company is focused on providing a variety of financial services across multiple sectors.
The Board of Directors of Truist Financial Corporation (NYSE: TFC) has declared a quarterly cash dividend of $0.45 per common share, payable on December 1, 2020. Shareholders on record by November 13, 2020 will receive this dividend. Additionally, dividends for various series of preferred stock have also been announced, with payments scheduled for December 1 and December 15, 2020. Truist Financial holds $499 billion in total assets as of September 30, 2020, marking it as one of the largest commercial banks in the U.S.
Truist Financial Corporation (NYSE: TFC) has expanded its Commercial Community Banking Industry Consulting team to include the beverage sector, hiring Joseph Goode as a consultant. Goode, who brings 12 years of experience, will work with local bankers to provide tailored solutions to beverage manufacturers and distributors. Truist aims to enhance its presence in the beverage market by leveraging Goode's industry knowledge and its extensive community banking network, addressing the needs of both alcoholic and non-alcoholic sectors.
Truist Financial Corporation (NYSE: TFC) has appointed Vinoo Vijay as its new chief marketing officer. With over 20 years in marketing leadership roles, Vijay will oversee all marketing aspects, including brand and digital strategies. His previous experience includes leading marketing at H&R Block and TD Bank, focusing on client-centric innovations. Vijay aims to enhance Truist's brand promise and client experience as the company seeks to redefine modern banking. Truist, headquartered in Charlotte, has total assets of $499 billion as of September 30, 2020.
Truist Financial Corporation (TFC) reported third-quarter 2020 earnings with net income of $1.1 billion, a 45.3% increase from the previous year. However, diluted earnings per share fell 16.8% to $0.79. Adjusted net income was $1.3 billion, translating to $0.97 per share, after merger-related expenses. The company’s ROA was 0.91%, while adjusted ROA was 1.11%. Notably, noninterest income dropped, driven by reduced securities gains. The bank maintained stable asset quality, with a modest increase in the allowance for loan losses due to COVID-19 uncertainties. Total deposits rose to $372.2 billion, reflecting strong noninterest-bearing deposit growth.
Truist Financial Corporation (NYSE: TFC) announced that Chairman and CEO Kelly S. King will participate in a virtual Moody's Banking Series event on October 19, 2020, at 9:00 a.m. Eastern. A live audio webcast of the event will be available at ir.truist.com, with a replay accessible for 30 days post-event. Truist, headquartered in Charlotte, North Carolina, is a leading financial services company with approximately 12 million households served and total assets of $504 billion as of June 30, 2020.
Greenville Technical College has launched the Truist Culinary and Hospitality Innovation Center, thanks to a $1 million grant from the Truist Foundation. This facility aims to bridge the gap between local restaurants' workforce needs and residents' training requirements. Featuring a 13,000-square-foot area, the center offers Quick Jobs programs in culinary skills with potential career pathways in hospitality. The center is backed by various donors, enhancing educational opportunities in the community.
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