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.
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Truist Foundation announces the second Inspire Awards event to celebrate nonprofits with innovative solutions supporting undercapitalized entrepreneurs. Greg Olsen to host the event on April 24 in Charlotte and online. Virtual attendees can vote for the Audience Favorite Award, with the winner receiving a $75,000 grant. Finalists include organizations presenting cutting-edge solutions to empower small businesses. The top organization will receive a $250,000 grant, with additional grants for second place and runners-up. Truist Foundation collaborated with Solve to identify and invest in nonprofits leveraging technology for resiliency and sustainability.
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Truist Financial Corporation (TFC) sells its stake in Truist Insurance Holdings to private equity firms, boosting balance sheet and strategic flexibility. The $15.5 billion deal enhances core banking franchise, increases capital ratio by 230 basis points, and raises tangible book value per share by 33%. The sale is expected to be $0.20 dilutive to 2024 earnings per share. Stone Point Capital and Clayton, Dubilier & Rice to lead investor group in the transaction.
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Truist Financial Corporation announces the Truist Community Catalyst Initiative, a $5 million program impacting over 10,000 individuals across 13 states. The initiative focuses on affordable housing, small business access to capital, workforce development, and essential community services, supporting 17 efforts and 54 communities.
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Truist Financial Corporation (TFC) CFO Mike Maguire is scheduled to speak at the BofA Securities Financial Services Conference on February 21, 2024, at 10:30 a.m. ET. A live audio webcast will be available on ir.truist.com under Events & Presentations, with a 30-day replay available on the website.
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Truist has been recognized for the third consecutive year by JUST Capital and CNBC as one of America's Most JUST Companies, ranking #14 overall out of 937 brands. The company's focus on responsible business practices and corporate citizenship has been acknowledged as it supports stakeholders such as shareholders, teammates, clients, and communities. Truist's commitment to executing responsible business practices and living its purpose has been highlighted, earning recognition as a leader in supporting workforce retention, providing benefits, and work-life balance.
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Guardian Capital Group Limited (TSX:GCG) announced the acquisition of Sterling Capital Management LLC from Truist Financial Corporation (NYSE: TFC) for $70MM, expanding Guardian's scale as a global asset manager and adding $76B in assets under management. The transaction is expected to close in Q2, 2024, allowing Sterling to operate as a standalone entity under Guardian's oversight.
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Truist Financial Corporation (TFC) has declared a regular quarterly cash dividend of $0.52 per common share, payable on Mar. 1, 2024. The Board also declared regular cash dividends on various series of preferred stock, with dividends ranging from $0.296875 to $22.11361 per share.
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Star Mountain Capital, a specialized private credit and secondaries investment manager, has announced that Ravi Ugale has joined as a Managing Director. Mr. Ugale brings over 30 years of private capital fund and direct investment experience, business operations, governance, and leadership experience. With $4 billion in assets under management, Star Mountain is a purpose-built business with one of the largest teams focused on investing in established, profitable, small and medium-sized private U.S. businesses. Ravi Ugale is expected to contribute to Star Mountain's investor-centric business model and further bolster its secondaries, governance, reporting, and client partner team.
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Truist Financial Corporation (TFC) reported its fourth quarter 2023 results, with investors able to access the live earnings call. The earnings release, investor presentation, and detailed financial schedules are available on Truist's Investor Relations website.
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Truist Financial Corporation (NYSE: TFC) will report Q4 2023 financial results on Jan. 18, 2024. Chairman and CEO Bill Rogers and CFO Mike Maguire will host a conference call at 8 a.m. ET. Investors can access the live earnings call via webcast or dial-in. Replay available for 30 days.
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FAQ
What is the current stock price of Truist Financial Corporation (TFC)?
The current stock price of Truist Financial Corporation (TFC) is $46.63 as of November 19, 2024.
What is the market cap of Truist Financial Corporation (TFC)?
The market cap of Truist Financial Corporation (TFC) is approximately 61.8B.
What services does Truist Financial Corporation offer?
Truist offers services in 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.
Where is Truist Financial Corporation headquartered?
Truist Financial Corporation is headquartered in Charlotte, North Carolina.
What is the history of Truist Financial Corporation?
Truist was formed through the merger of BB&T and SunTrust in 2019. It inherits 275 years of combined history from these legacy banks.
How many households does Truist serve?
Truist serves approximately 12 million households across high-growth markets in the U.S.
Who recently joined Truist Securities?
Highly ranked analyst Jamie Cook recently joined Truist Securities as a managing director, expanding its equity research coverage in the industrials sector.
When will Truist report its financial results for Q1 2024?
Truist will report its first-quarter 2024 financial results on April 22, 2024, before the market opens.
What initiatives does the Truist Foundation support?
The Truist Foundation supports initiatives focused on building career pathways to economic mobility and strengthening small businesses.
What recent partnership did Sheffield Financial renew?
On April 8, 2024, Sheffield Financial renewed its long-term retail financing agreement with BRP US Inc.
What was the outcome of the sale of Truist Insurance Holdings?
Truist completed the sale of its remaining stake in Truist Insurance Holdings on May 7, 2024, enhancing its financial profile and raising approximately $10.1 billion in after-tax cash proceeds.
How does Truist support innovation?
Truist supports innovation through strategic investments in technology, collaborative culture, and expanding its expertise and capabilities to deliver differentiated value to clients.
Truist Financial Corporation
NYSE:TFC
TFC Rankings
TFC Stock Data
61.80B
1.32B
0.28%
76.99%
1.01%
Banks - Regional
National Commercial Banks
United States of America
CHARLOTTE