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 announced an additional $100,000 grant to support relief and recovery efforts in South Carolina and North Carolina communities impacted by storm Debby. This is on top of a previously announced $100,000 grant for Florida and Georgia. The funds will be distributed to the Center for Disaster Philanthropy's Atlantic Hurricane Season Recovery Fund and the American Red Cross.
The grants aim to address immediate needs such as food, shelter, and medical services, as well as medium- and long-term recovery efforts. Earlier this year, Truist Foundation also donated $1 million to the American Red Cross Annual Disaster Giving Program to provide quick assistance to communities affected by disasters like storm Debby.
Truist Financial (NYSE: TFC) has been named the title sponsor of the PGA TOUR's Charlotte-based Signature Event, now called the Truist Championship. The seven-year agreement was announced on August 6, 2024. Quail Hollow Club will continue to be the primary host, except in 2025 when the event will be held at The Philadelphia Cricket Club due to Quail Hollow hosting the PGA Championship. The tournament is one of eight Signature Events on the PGA TOUR schedule, featuring top players and offering 700 FedExCup points to the winner. It has raised over $30 million for charitable organizations throughout its history.
Truist Foundation has announced a $100,000 donation to support relief and recovery efforts in Southeastern communities impacted by Hurricane Debby. The funds will be distributed to the Center for Disaster Philanthropy's Atlantic Hurricane Season Recovery Fund, the American Red Cross, and United Way Worldwide. These organizations will use the grant to address critical immediate needs such as food, shelter, and medical services, as well as medium- and long-term recovery efforts.
Earlier this year, Truist Foundation also donated $1 million to the American Red Cross Annual Disaster Giving Program to provide quick assistance to communities affected by disasters like Debby. The foundation's proactive approach aims to support communities before, during, and after natural disasters, aligning with Truist's purpose of inspiring and building better lives and communities.
Truist Foundation has announced a $100,000 donation to support relief and recovery efforts in Southeastern communities impacted by Tropical Storm Debby. The funds will be distributed to the Center for Disaster Philanthropy's Atlantic Hurricane Season Recovery Fund, the American Red Cross, and United Way Worldwide. These organizations will use the grant to address critical immediate needs such as food, shelter, and medical services, as well as medium- and long-term recovery efforts.
Earlier this year, Truist Foundation also donated $1 million to the American Red Cross Annual Disaster Giving Program to provide quick assistance to communities affected by events like Tropical Storm Debby. Truist Foundation, established in 2020, focuses on building career pathways to economic mobility and strengthening small businesses to promote equal opportunities for all communities.
The Council for Adult and Experiential Learning (CAEL) has announced the expansion of the Build Better Careers program in South Florida, aimed at helping residents without college degrees access high-growth jobs in banking and financial services. Funded by the Truist Foundation's Where it Starts Initiative, the program seeks to connect job seekers to higher-wage jobs and long-term career opportunities in the industry.
The initiative will collaborate with local partners, including CareerSource South Florida and OIC of South Florida, to identify, recruit, and upskill high-potential working adults. Over the next three years, CAEL and its partners will work to connect traditionally underserved populations with career paths in financial services, insurance, and adjacent industries. The program also aims to address barriers such as food and housing insecurity that have historically prevented qualified individuals from accessing these careers.
AppBrilliance, a pioneer in real-time payment solutions, is leveraging a recent rule change by The Clearing House to expand Real Time Payments (RTP) to closed-loop digital wallets in the US. The company's Money API™ platform enables payment processors, retailers, and merchants to reduce costs and boost customer loyalty by integrating real-time payments over RTP and FedNow network rails.
Key benefits include:
- Drastically reduced payment processing costs
- Enhanced customer loyalty with seamless payment experiences
- Reduced fraud and chargebacks
- Increased sales through reduced friction at point-of-sale and online
AppBrilliance is partnering with leading payment processors, digital wallet platforms, and banks to bring scalable, real-time payment solutions to market and power the next generation of payment applications.
Truist Financial (NYSE: TFC) has declared its regular quarterly cash dividend of $0.52 per common share, payable on September 3, 2024, to shareholders of record as of August 9, 2024. The Board also announced dividends for various series of preferred stock, with payment dates primarily in September. Truist, a leading U.S. commercial bank with $520 billion in total assets as of June 30, 2024, continues to demonstrate its commitment to shareholder returns through these dividend declarations.
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.
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