Truist Finl Corp Stock Price, News & Analysis

Truist Financial Corporation (NYSE: TFC) has expanded its Commercial Community Bank's Industry Consulting team by adding experts in the waste and environmental services and building products sectors. The bank, serving businesses with revenues between $2 million and $500 million, aims to enhance client relationships with tailored solutions. Prachi Wagner and Matt Roth will lead these new specialties, bringing extensive experience to the roles. Truist's industry expertise covers various fields, enhancing its competitive edge in the market.

Truist Financial Corporation (NYSE: TFC) announced that CFO Daryl N. Bible will present at the Barclays Americas Select Franchise Conference on May 18, 2021, at 7 a.m. ET. This event will be conducted virtually, and presentation materials along with a live audio webcast will be accessible on the company's investor relations website, ir.truist.com. A replay will be available for 30 days. Truist is the sixth-largest commercial bank in the U.S., with total assets of $518 billion as of March 31, 2021.

Truist Financial Corporation (NYSE: TFC) announces the redemption of all 18,600 shares of its 5.625% Series H Non-Cumulative Perpetual Preferred Stock on June 1, 2021. Each share will be redeemed at $25, totaling $465 million for the Series H Depositary Shares. Holders will receive regular dividends for the current quarter on June 1, 2021, but all dividends will cease to accrue after the redemption date. The redemption will be processed through The Depository Trust Company by Computershare Trust Company, N.A.

Truist Financial Corporation (NYSE: TFC) has announced a multiyear partnership with Operation HOPE, aimed at enhancing financial resources and support within underserved communities. The partnership includes expanding the HOPE Inside coaching program to 1,000 branches, investing in the 1 Million Black Business Initiative, and providing digital access to financial education. Truist's financial commitment underscores its dedication to fostering economic opportunities, particularly for Black entrepreneurs. This initiative is part of Truist's broader mission to inspire and build better lives and communities.

Truist Financial Corporation (NYSE: TFC) announced a quarterly cash dividend of $0.45 per common share, payable on June 1, 2021, to shareholders of record by May 14, 2021. Additionally, dividends were declared for various series of preferred stock, including Series H ($351.5625), Series I ($1,022.22222), Series J ($1,022.22222), Series L ($2,525.00), Series M ($2,562.50), Series O ($328.125), Series P ($618.75), and Series R ($296.875), all payable on June 1 or June 15, 2021, depending on the series.

Truist Financial Corporation (NYSE: TFC) will redeem $250 million of its floating rate senior notes due June 1, 2021, on May 1, 2021. The redemption price will equal 100% of the principal amount plus accrued interest, ceasing on the redemption date. Payments will occur on the next business day, May 3, 2021, via The Depository Trust Company. As of March 31, 2021, Truist has total assets of $518 billion, positioning it as the sixth-largest commercial bank in the U.S.

Truist Financial Corporation (TFC) reported a robust start to 2021, with net income for Q1 at $1.3 billion, up 35.3% year-over-year. Earnings per share rose to $0.98, a 34.2% increase. Adjusted net income hit $1.6 billion, reflecting strong performances in insurance and investment banking, with an adjusted return on tangible common equity of 19.36%. The bank's asset quality remained stable, though there was a slight increase in loans past due. Total deposits grew 8.6% to $383.2 billion, bolstered by government stimulus efforts.

The LightStream Home Improvement Trends Survey reveals significant changes in U.S. homeowners' perspectives on their living spaces post-pandemic. Conducted among 1,300 homeowners, the survey shows that 47% are using their spaces differently, with 91% citing space constraints as a major frustration. Popular home projects include kitchen (38%) and outdoor (35%) remodels. While most homeowners plan to finance improvements through savings (66%) or credit cards (30%), many may incur high costs due to credit card interest rates averaging 18.52%. Smart financial planning is crucial for these renovations.