Why Truist Shares Are Trading Higher Today

Why Truist Shares Are Trading Higher Today

Truist Financial TFC shares are trading higher after the company reported better-than-expected fourth-quarter earnings results.

On Thursday, Truist announced its earnings results for both the full year 2022 and the fourth-quarter 2022. The company achieved $1.30 adjusted diluted EPS for the fourth quarter, beating the analyst consensus estimate of $1.28.

In addition, Truist reported estimate-beating total revenue, pulling in $6.20 billion in the fourth quarter, beating analyst estimates of $6.16 billion.

Chief Executive Officer of Tritium, Bill Rogers attributes “robust loan growth, significant margin expansion, and good cost discipline” to strong fourth-quarter results.

Truist is a regional bank with a presence primarily in the Southeastern United States. The company operates several bank and nonbank segments, including commercial banking, retail banking, investment banking operations, and insurance brokerage.

According to data from Benzinga Pro, Truist Financial is up 4.31%, trading at $47.70 at the time of publication. It has a 52-week high of $48.03 and a 52-week low of $45.77.

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