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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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Sheffield Financial and BRP US Inc. renew their long-term retail financing agreement, enhancing financing options for BRP dealers and customers. The partnership, spanning over 15 years, focuses on providing competitive rates, rapid funding, and flexible loan terms, supported by innovative technology.
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Truist Financial 's Truist Foundation supports nonprofit organizations to promote economic mobility and small business growth. The company gears up for the 2024 Inspire Awards, highlighting finalists' innovative ideas.
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Truist Financial (NYSE: TFC) will announce its first-quarter 2024 financial results on April 22, 2024. The conference call hosted by CEO Bill Rogers and CFO Mike Maguire will provide insights into the company's performance.
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Truist Securities welcomes highly ranked analyst Jamie Cook as a managing director, enhancing equity research in the industrials sector. Cook's expertise in machinery and equipment, along with recent hires, strengthens the firm's capabilities to navigate the evolving sector landscape.
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Truist Financial Corporation (TFC) reschedules conference calls to review quarterly financial results due to pending sale of Truist Insurance Holdings, expected to close in Q2 2024. Updated call dates are in April and July, with unchanged dates for Q3 and Q4. Access information to be provided closer to each call.
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RICE receives a $2 million grant from Truist Foundation to enhance support for Black entrepreneurs in Atlanta. The partnership aims to increase mentorship, provide business resources, and improve access to capital and financial education, addressing the funding gap faced by Black entrepreneurs. RICE has already made significant contributions to Black entrepreneurship, creating jobs, generating revenue, and driving economic activity.
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AppBrilliance partners with ZOCCAM Technologies, LLC. to enhance real-time payment solutions in real estate. The strategic collaboration aims to revolutionize payment processes in the industry.
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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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FAQ
What is the current stock price of Truist Financial Corporation (TFC)?
The current stock price of Truist Financial Corporation (TFC) is $46.76 as of January 23, 2025.
What is the market cap of Truist Financial Corporation (TFC)?
The market cap of Truist Financial Corporation (TFC) is approximately 61.9B.
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
61.89B
1.32B
0.18%
76.62%
1.53%
Banks - Regional
National Commercial Banks
United States of America
CHARLOTTE