Welcome to our dedicated page for Truist Finl news (Ticker: TFC), a resource for investors and traders seeking the latest updates and insights on Truist Finl stock.
Truist Financial Corporation reports news as a large U.S. banking and financial services company serving consumer, small business, commercial, corporate, institutional and high-net-worth clients. Its recurring updates cover quarterly results, common and preferred stock dividends, share repurchase activity, debt issuance, and business-line developments across consumer banking, wholesale banking, wealth management, payments, investment banking and specialized lending.
Company announcements also address digital banking and data-access partnerships, Enterprise Payments and treasury management activity, Truist Securities advisory and capital markets capabilities, and Truist Wealth investment solutions. Truist emerged from the combination of BB&T and SunTrust and operates through Truist Bank and related financial-services businesses.
The Board of Directors of Truist Financial Corporation (NYSE: TFC) has declared a quarterly cash dividend of $0.52 per common share, payable on March 1, 2023, to shareholders of record by February 10, 2023.
Additionally, regular cash dividends on several series of preferred stock were announced, with varying payment dates. The dividends for these preferred stocks include amounts like $1,324.75 for Series I and $1,353.50 for Series J, all payable on March 15, 2023. These dividends reflect the company’s robust financial position as of December 31, 2022, with total assets of $555 billion.
Truist Foundation has awarded a $1 million grant to the Center for Employment Opportunities (CEO), aimed at enhancing career advancements for individuals returning from incarceration. The funding will facilitate access to advanced training, connecting thousands of justice-impacted people with high-wage employment opportunities. Key offerings include IT certifications, CDL training, and foundational digital skills. This initiative is expected to empower participants with stipends while they pursue training, addressing community workforce development needs. The grant aligns with Truist Foundation's commitment to improving economic mobility and providing transformative employment services.
Truist Financial Corporation (TFC) reported strong fourth-quarter 2022 earnings, with net income of $1.6 billion or $1.20 per diluted share, reflecting a 5.6% year-over-year increase. Adjusted earnings reached $1.7 billion or $1.30 per diluted share, driven by robust loan growth and an expanded net interest margin (NIM) of 3.25%. For the full year, net income totaled $5.9 billion, slightly down from 2021. Key metrics include a return on assets (ROA) of 1.21% and return on tangible common equity (ROTCE) of 27.6%. Despite increased provisions for credit losses, capital and credit quality remain strong, with a common equity tier 1 ratio of 9.0% and asset quality reflecting a conservative risk culture.
Truist Financial Corporation (NYSE: TFC) is set to release its fourth-quarter 2022 financial results on January 19, 2023, before the market opens. The earnings call, led by Chairman Bill Rogers and CFO Mike Maguire, will take place at 8 a.m. ET. Investors can access the call via a live audio webcast on the company's investor relations page or by calling 855-303-0072 with the passcode 100038. Truist, headquartered in Charlotte, North Carolina, has a total asset base of $548 billion as of September 30, 2022.
Truist Financial Corporation (NYSE: TFC) has raised its prime lending rate from 7.00% to 7.50%, effective December 15, 2022. This adjustment reflects current market conditions and may influence borrowing costs for consumers and businesses. The bank, headquartered in Charlotte, North Carolina, holds total assets of $548 billion as of September 30, 2022, establishing itself as a significant player in the financial services sector.
Truist Foundation announced a $3.75 million grant to Access to Capital for Entrepreneurs (ACE) to expand lending for minority-owned businesses in rural Georgia. This is the largest grant in ACE's history and will enhance access to capital over three years to meet rising demands. ACE aims to increase job creation and support minority entrepreneurs, aligning with Truist's broader $120 million initiative to support small businesses. In 2021, ACE closed $37.3 million in loans and created or retained 4,368 jobs.
Truist Foundation announced a $3.5 million grant to PeopleFund, a Texas-based CDFI, aimed at fostering economic opportunity for underserved individuals. This grant supports the BIPOC Small Business Accelerator, initially started with a $100,000 grant and a $3 million loan from Truist. The funding aligns with Truist's $120 million commitment to strengthen small businesses, focusing on racially diverse entrepreneurs. Additionally, Truist announced further grants totaling $1 million to SERJobs and Junior Achievement to enhance economic mobility through education and training.
Truist Financial Corporation (NYSE: TFC) announced that its Chairman and CEO, Bill Rogers, will present at the Goldman Sachs 2022 US Financial Services Conference on December 6, 2022, at 11:20 a.m. ET. A live audio webcast of the presentation and accompanying materials will be available on Truist's investor relations website. A replay will be accessible for 30 days post-event. As of September 30, 2022, Truist, headquartered in Charlotte, North Carolina, has total assets of $548 billion and provides diverse financial services.
Truist Wealth has launched Truist Trade, a self-directed investing solution allowing clients to open accounts and trade without commissions. This digital platform requires no minimum account balance and provides access to various investment accounts, including IRAs. Clients benefit from dedicated support and research materials. Developed with client input, Truist Trade complements existing services like Truist Invest and Invest Pro. With total assets reported at $548 billion as of September 30, 2022, Truist is a major player in the financial services sector.
Summary not available.