Truist Financial Corporation (NYSE:TFC) shares are trading higher Friday. The company reported first-quarter earnings.
- Truist Financial stock is under selling pressure. Why is TFC stock trading lower?
Quarterly Highlights
The company reported earnings per share of $1.09, beating the consensus estimate of $1.00. In addition, it reported revenue of $5.19 billion, beating the consensus estimate of $5.17 billion.
Average loans and leases increased 0.7%, driven by growth in the commercial portfolio, while average deposits also rose 0.7%.
The company returned $1.8 billion to shareholders during the quarter through dividends and share repurchases, including $1.1 billion in buybacks.
"We delivered a strong first quarter, with earnings per share up 25% from the first quarter of 2025, driven by disciplined execution against our strategic priorities and continued momentum across the franchise," said CEO Bill Rogers.
Truist narrowed its fiscal-year 2026 revenue guidance from between $21.32 billion and $21.52 billion to $21.32 billion, versus the consensus estimate of $21.39 billion.
Truist Stock Edges Lower
TFC Price Action: At the time of publication, Truist shares are trading 1.62% higher at $50.23, according to data from Benzinga Pro.
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