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 (NYSE: TFC) has announced its second quarter 2024 results. The company will host a live earnings call at 8 a.m. ET today, accessible via webcast or dial-in. Investors can find detailed financial information, including the earnings release, investor presentation, and Quarterly Performance Summary, on Truist's Investor Relations website. A replay of the call will be available for 30 days.
Unfortunately, the press release does not provide specific financial figures or performance metrics for the second quarter. Without this important information, it's challenging to assess Truist's financial health or compare its performance to previous periods or industry benchmarks.
Truist Financial (NYSE: TFC) announced its 2024 annual stress test results, revealing a preliminary stress capital buffer (SCB) requirement of 2.8%, effective October 1, 2024, to September 30, 2025. The final SCB requirement will be provided by August 31, 2024. Truist's board authorized a $5 billion share repurchase program through 2026, beginning in Q3 2024, and plans to maintain a quarterly dividend of $0.52 per share. The company's pro-forma CET1 ratio increased to 11.4% following the sale of Truist Insurance Holdings and balance sheet repositioning in May 2024. Truist's capital and liquidity positions are strong, enabling it to serve clients, maintain dividends, and support its growth strategy.
Truist Foundation President Lynette Bell and American Red Cross CEO Gail McGovern discuss their partnership for disaster preparedness, relief, and recovery. The conversation highlights Truist's $5 million grant for the Red Cross' Community Adaptation Program and an additional $1 million annual disaster relief grant. The discussion covers challenges faced during severe weather events and the role of humanitarian aid in economic mobility. McGovern also reflects on her legacy as she prepares to retire after 15 years. Tune into 'Inspiring Conversations' for detailed insights.
Jobs for the Future (JFF) has partnered with Truist Foundation to enhance economic mobility and career advancement across several U.S. states, including Georgia, North Carolina, Pennsylvania, Ohio, and the Huntsville, Alabama region.
The collaboration involves a $4.2 million investment to support two initiatives aimed at building pathways to high-wage, high-growth careers through postsecondary education and workforce training programs.
Key elements include partnering with community colleges to support learners facing economic mobility barriers and expanding tech training programs for data analytics and cybersecurity roles, particularly targeting low-to-moderate-income individuals.
This effort aligns with JFF's 10-year goal of helping 75 million people advance into quality jobs.
On June 24, 2024, Truist Foundation announced over $4 million in grants to 11 nonprofit organizations nationwide. These grants aim to support small businesses and create career pathways in underserved communities. Recognizing the funding challenges faced by nonprofits, Truist aims to pilot innovative solutions and scale successful initiatives in new regions.
Key beneficiaries include the Georgia Resilience and Opportunity Fund, Greater Washington Community Foundation, Project Equity, Prosperity Now, and others. These funds will support various programs like financial well-being centers, employee ownership initiatives, and career accelerators.
The grants also aim to scale existing successful programs, such as Digitalundivided’s business accelerator and LiftFund’s microlending services. Truist's strategy focuses on catalyzing innovative solutions and maximizing positive societal outcomes.
Truist Financial (NYSE: TFC) will report its second-quarter 2024 financial results before the market opens on July 22, 2024. Chairman and CEO Bill Rogers, along with CFO Mike Maguire, will host an earnings call at 8 a.m. ET. Investors can access the live webcast or dial-in for the call. The news release and presentation materials will be available at Truist's investor relations website, with a replay accessible for 30 days.
Truist Financial is a leading U.S. commercial bank with total assets of $535 billion as of March 31, 2024. The company offers a wide range of services, including consumer and small business banking, commercial banking, corporate and investment banking, wealth management, payments, and specialized lending.
Truist Foundation's Q2 2024 newsletter highlights the organization's commitment to economic mobility and small business support through strategic investments in nonprofits. The April 2024 Inspire Awards, hosted by Greg Olsen, featured seven finalists who participated in a six-month development program. Centro Community Partners won first place and Audience Favorite, while Immigrants Rising secured second place. Truist Foundation President Lynette Bell and MIT Solve Executive Director Hala Hanna discussed the Inspire Awards in a podcast, and Bell co-chaired the AFN conference to promote economic equity. The foundation expressed gratitude towards its board members for their contributions.
Truist Foundation announced grants totaling over $4 million to 11 nonprofits for piloting innovative programs and scaling successful initiatives. This funding addresses a critical gap for nonprofits struggling to secure growth capital. Recipients include Georgia Resilience and Opportunity Fund, Greater Washington Community Foundation, Project Equity, Prosperity Now, and Urban Manufacturing Alliance, among others. The grants focus on supporting small businesses and creating career pathways in underserved communities across various regions. Truist Foundation aims to catalyze innovation and expand effective solutions to new areas through these strategic investments.
Truist Financial (NYSE: TFC) announced that CFO Mike Maguire will speak at the Morgan Stanley US Financials, Payments & CRE Conference on June 11, 2024, in New York City. The event will be available via live audio webcast at 1:45 p.m. ET, and a replay will be accessible for 30 days on the company's investor relations website.
Truist is a major U.S. commercial bank headquartered in Charlotte, North Carolina, with $535 billion in assets as of March 31, 2024. The bank offers a variety of services, including consumer and commercial banking, investment banking, wealth management, and payments.
Truist Financial (NYSE: TFC) announced the redemption of its $1 billion floating rate senior notes due June 9, 2025. The redemption will take place on June 9, 2024, at a price equal to 100% of the principal amount plus accrued and unpaid interest up to the redemption date. The interest on these senior notes will cease accruing after the redemption date. Payment will be made through The Depository Trust Company. Truist Financial, a major U.S. commercial bank, has total assets of $535 billion as of March 31, 2024.
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