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MarketScreener Homepage  >  Equities  >  Nyse  >  Truist Financial Corporation    TFC

TRUIST FINANCIAL CORPORATION

(TFC)
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Truist Financial : 3Q Net Interest Income Rises

10/15/2020 | 06:49am EST

By Dave Sebastian

Truist Financial Corp. said its net interest income rose in the company's first third-quarter period following its creation in the merger last year of BB&T Corp. and SunTrust Banks Inc.

The Charlotte, N.C.-based company Thursday said net interest income on a taxable equivalent basis was $3.39 billion, up from $1.72 billion a year earlier. Noninterest income rose to $2.21 billion from $1.3 billion.

Truist posted quarterly profit of $1.07 billion, or 79 cents a share, compared with $735 million, or 95 cents a share, in the same quarter last year. Excluding merger-related and restructuring charges, earnings were 97 cents a share.

Analysts polled by FactSet had been expecting earnings of 84 cents a share, or 89 cents a share on an adjusted basis.

Revenue rose to $5.57 billion from $3 billion. Analysts had been looking for $5.41 billion.

The bank said it set aside $421 million for loan losses, reflecting a build to the allowance for loan and lease losses due to its monitoring of clients' financial position and associated regrading actions as well as uncertainty after the expiration of Covid-19 relief packages. The allowance for loan and lease losses was 1.91% of loans and leases held for investment, the company said.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

10-15-20 0648ET

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Financials (USD)
Sales 2020 22 070 M - -
Net income 2020 4 131 M - -
Net Debt 2020 - - -
P/E ratio 2020 15,8x
Yield 2020 3,73%
Capitalization 65 020 M 65 020 M -
Capi. / Sales 2020 2,95x
Capi. / Sales 2021 3,04x
Nbr of Employees 59 000
Free-Float 99,6%
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Technical analysis trends TRUIST FINANCIAL CORPORATION
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 48,67 $
Last Close Price 48,23 $
Spread / Highest target 26,5%
Spread / Average Target 0,91%
Spread / Lowest Target -23,3%
EPS Revisions
Managers
NameTitle
Kelly S. King Chairman & Chief Executive Officer
William Henry Rogers President, Chief Operating Officer & Director
Daryl N. Bible Chief Financial Officer & Senior Executive VP
Scott E. Case Chief Information Officer
Dallas S. Clement Independent Director
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