Truist Finl Corp Stock Price, News & Analysis

Truist Foundation, linked with Truist Financial Corporation (NYSE:TFC), focuses on economic mobility and support for small businesses in underserved areas. Established in 2020, it aims to create career pathways through strategic investments in nonprofit organizations. The Foundation's President, Lynette Bell, engages in discussions with leaders of supported nonprofits, such as Tim Renick from Georgia State University's National Institute for Student Success, highlighting efforts to assist low-income and first-generation students. The initiative aims to address systemic barriers and promote innovative solutions for community enhancement.

Coppin State University has launched the Eagle Achievement Center (EAC) to enhance student success, featuring collaborative spaces and innovative technology. The center aims to improve student retention and offers various support services, including academic advising and career services. A key highlight is a $2 million grant from Truist to establish the Truist Hub for Black Economic Mobility, the largest corporate commitment in the university's history. This partnership aims to create better educational and career support pathways for students and local communities, emphasizing commitment to fostering economic mobility.

Truist Financial Corporation (NYSE: TFC) has canceled its participation in the BofA Securities Financial Services Conference scheduled for February 16, 2023. This decision follows the announcement of an agreement to sell a minority stake in Truist Insurance Holdings, potentially shifting focus towards strategic asset management. The company's CFO, Mike Maguire, was slated to present at 8:50 a.m. ET.

Truist, headquartered in Charlotte, North Carolina, is a leading financial services firm with total assets valued at $555 billion as of December 31, 2022. The firm operates across various segments, including banking and wealth management.

Truist Financial Corporation (NYSE: TFC) has agreed to sell a 20% stake in Truist Insurance Holdings, Inc. for $1.95 billion to Stone Point Capital, valuing the subsidiary at $14.75 billion. The transaction highlights the market's confidence in Truist Insurance, being the sixth-largest insurance brokerage in the U.S. The deal is expected to close in Q2 2023 and will enhance Truist's capital position by increasing its CET1 ratio by 32 basis points. Truist will retain an 80% ownership, benefitting from Stone Point's industry expertise to drive future growth.

Truist Foundation has allocated $450,000 in grants to Sweet Auburn Works for its Walking with Heroes campaign, aimed at revitalizing Atlanta's Sweet Auburn Historic District. Funding will support the SPARK Lab, which provides entrepreneurial assistance to local business owners of color, including renovations for the Sweet Auburn Bread Company. Additionally, a 1.1-mile Heroes Walk will be developed to honor Black leaders, enhancing local tourism and economic activity. The initiatives, expected to break ground in 2023 and complete in 2024, showcase Truist's commitment to supporting BIPOC businesses and community engagement.

On February 14, 2023, the SkillUp Coalition announced a $1.5 million grant from Truist Foundation to develop a remote jobs catalog targeting high-quality remote positions, primarily for job seekers without degrees in rural areas. As remote work becomes more prevalent, this initiative aims to address disparities in employment opportunities, especially for marginalized populations. The catalog is designed to connect individuals to well-paying jobs, leveraging the SkillUp platform that has already aided over 1.3 million workers since its launch in July 2020. The new catalog is expected to be available by Labor Day 2023.

Truist Financial Corporation (NYSE: TFC) announced that CFO Mike Maguire will present at the BofA Securities Financial Services Conference on February 16, 2023, at 8:50 a.m. ET. The conference will feature a live audio webcast and presentation materials available on Truist's investor relations website, ir.truist.com. A replay will be accessible for 30 days post-event. As of December 31, 2022, Truist had total assets of $555 billion and is a top 10 commercial bank in the U.S., focused on enhancing lives and communities through diverse financial services.

Kensington Vanguard National Land Services has announced the hiring of industry veterans Steve LaForgia and James Cosolito as senior executive vice presidents, bringing nearly 40 years of combined experience to the company. Their return to KV is seen as a significant move to enhance the Business Development team, aiming to improve client services.

LaForgia emphasized the opportunity for business expansion, while Cosolito described the move as a homecoming, highlighting KV’s impressive growth trajectory since their departure. In 2022, KV was acquired by Truist Financial Corporation (TFC), indicating a robust consolidation strategy in the title insurance sector.

Truist Financial Corporation (NYSE:TFC) has pledged $15 million to the GoATL initiative, which is designed to enhance affordable housing and support small businesses in Atlanta. This includes a lead investment of $14 million in the new GoATL Affordable Housing Fund, part of a larger $75 million effort to address housing gaps, along with a $1 million grant for the GoATL Economic Inclusion Fund. Truist aims to foster economic mobility and bridge the racial wealth gap, particularly in a city marked by significant income disparity. This marks the second impact investment by Truist in affordable housing in partnership with the Community Foundation for Greater Atlanta.