Truist Financial

Truist Financial Corporation (NYSE: TFC)  is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country and offers a wide range of products and services through our retail and small business banking, commercial banking, corporate and investment banking, insurance, wealth management, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $543 billion as of September 30, 2023. Truist Bank, Member FDIC.

CFRA Keeps Hold Opinion On Shares Of Truist Financial Corporation

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target price by $1 to $38, 10.1x our 2025 EPS estimate, below TFC’s five-year forward P/E average of 10.8x, given modest growth expectations. We lower our 2024 EPS estimate by $0.08 to $3.49 and reduce 2025’s by $0.16 to $3.76. TFC posted adjusted Q1 EPS of $0.90 vs. $1.05 a year ago, $0.10 above consensus. It was a busy quarter for TFC as it agreed to sell the remaining 80% of its insurance business for $12.6 billion. Encouragingly, this should dramatically improve the banks CET1 ratio (10.1% in Q1) by 230 bps and thus allow the bank to play offense once again as the transaction should reduce the strain on TFC’s securities portfolio. Additionally, TFC saw a resurgence in investment banking and trading […]

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Truist Financial(TFC) Q1 2024 Earnings Conference

The following is a summary of the Truist Financial Corporation (TFC) Q1 2024 Earnings Call Transcript: Financial Performance: Truist Financial Corporation reported an adjusted net income of $1.2 billion, equivalent to $0.90 per share in Q1 2024. Despite an increase in investment banking and trading revenue, loan demand remained muted. Adjusted expenses saw a marginal increase compared to the last quarter but showed a 4% year-on-year decline. The company plans to sell its remaining stake in Truist Insurance Holdings to strengthen its capital position. A 4.2% decrease in net interest income was reported compared to the last quarter due to reasons including higher rates paid on deposits. Business Progress: Truist added nearly 8,600 small business accounts and secured $700 million in deposits in Q1 2024. Over $252 million was committed to support community initiatives like affordable housing and new job creation. Significant progress was made on the digital front with

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Truist Financial (NYSE:TFC) Stock Analyst Ratings

Truist Financial (NYSE:TFC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/30/2024 12.57% Morgan Stanley $38 → $43 Maintains Equal-Weight 01/19/2024 -0.52% Piper Sandler $37 → $38 Maintains Neutral 01/19/2024 9.95% RBC Capital $40 → $42 Maintains Outperform 01/19/2024 15.18% Keefe, Bruyette & Woods $42 → $44 Maintains Outperform 01/05/2024 7.33% Raymond James $34 → $41 Maintains Outperform 01/04/2024 12.57% B of A Securities → $43 Upgrades Neutral → Buy 01/02/2024 9.95% Barclays $40 → $42 Maintains Equal-Weight 12/14/2023 5.89% Odeon Capital → $40.45 Upgrades Hold → Buy 12/08/2023 -10.99% Piper Sandler $31 → $34 Maintains Neutral 12/04/2023 -0.52% Morgan Stanley $40 → $38 Maintains Equal-Weight 11/20/2023 -13.61% Evercore ISI Group $31 → $33 Maintains In-Line 10/20/2023 -18.85% Piper Sandler $32 → $31 Maintains Neutral 10/05/2023 -10.99% Raymond James $36 → $34 Maintains Outperform 10/03/2023 4.71% Morgan Stanley $41 → $40 Maintains

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Truist Financial Finl Q4 Adj. EPS $0.81 Misses $0.89 Estimate, Sales $5.76B Beat $5.69B Estimate

Truist Financial (NYSE:TFC) reported quarterly adjusted earnings of $0.81 per share which missed the analyst consensus estimate of $0.89 by 8.99 percent. This is a 37.69 percent decrease over earnings of $1.30 per share from the same period last year. The company reported quarterly sales of $5.76 billion which beat the analyst consensus estimate of $5.69 billion by 1.23 percent. This is a 7.22 percent decrease over sales of $6.21 billion the same period last year.

Truist Financial Finl Q4 Adj. EPS $0.81 Misses $0.89 Estimate, Sales $5.76B Beat $5.69B Estimate Read Post »

CFRA Reiterates Hold Opinion On Shares Of Truist Financial Corporation

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our 12-month target price by $7 to $37, 9.4x our 2025 EPS estimate, below TFC’s five-year forward P/E average of 10.8x, given modest growth expectations. We raise our 2024 EPS estimate by $0.07 to $3.57 and start 2025’s at $3.92. TFC posted adjusted Q4 EPS of $0.81 vs. $1.30 a year ago, $0.09 below consensus. TFC made strides toward improved execution this quarter with a 4.5% adjusted expense contraction and an improvement in the bank’s efficiency ratio (-300 bps to 58.8%). Additionally, capital pressures eased as a decline in long-term rates improved the bank’s AOCI by 19%. Credit quality came in mixed as net charge-offs rose, while nonperforming assets fell. Given weak client demand and reductions in indirect auto and mortgages, TFC saw its consumer

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Truist Financial (NYSE:TFC) Stock Analyst Ratings

Truist Financial (NYSE:TFC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 16.02% RBC Capital $40 → $42 Maintains Outperform 01/19/2024 21.55% Keefe, Bruyette & Woods $42 → $44 Maintains Outperform 01/05/2024 13.26% Raymond James $34 → $41 Maintains Outperform 01/04/2024 18.78% B of A Securities → $43 Upgrades Neutral → Buy 01/02/2024 16.02% Barclays $40 → $42 Maintains Equal-Weight 12/14/2023 11.74% Odeon Capital → $40.45 Upgrades Hold → Buy 12/08/2023 -6.08% Piper Sandler $31 → $34 Maintains Neutral 12/04/2023 4.97% Morgan Stanley $40 → $38 Maintains Equal-Weight 11/20/2023 -8.84% Evercore ISI Group $31 → $33 Maintains In-Line 10/20/2023 -14.36% Piper Sandler $32 → $31 Maintains Neutral 10/05/2023 -6.08% Raymond James $36 → $34 Maintains Outperform 10/03/2023 10.5% Morgan Stanley $41 → $40 Maintains Equal-Weight 09/21/2023 -0.55% Keefe, Bruyette & Woods $37 → $36 Upgrades Market Perform → Outperform 09/15/2023 -11.6% Piper

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Truist Financial (NYSE:TFC) stock Analyst Ratings

Truist Financial (NYSE:TFC) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/05/2024 9.48% Raymond James $34 → $41 Maintains Outperform 01/04/2024 14.82% B of A Securities → $43 Upgrades Neutral → Buy 01/02/2024 12.15% Barclays $40 → $42 Maintains Equal-Weight 12/14/2023 8.01% Odeon Capital → $40.45 Upgrades Hold → Buy 12/08/2023 -9.21% Piper Sandler $31 → $34 Maintains Neutral 12/04/2023 1.47% Morgan Stanley $40 → $38 Maintains Equal-Weight 11/20/2023 -11.88% Evercore ISI Group $31 → $33 Maintains In-Line 10/20/2023 -17.22% Piper Sandler $32 → $31 Maintains Neutral 10/05/2023 -9.21% Raymond James $36 → $34 Maintains Outperform 10/03/2023 6.81% Morgan Stanley $41 → $40 Maintains Equal-Weight 09/21/2023 -3.87% Keefe, Bruyette & Woods $37 → $36 Upgrades Market Perform → Outperform 09/15/2023 -14.55% Piper Sandler $36 → $32 Downgrades Overweight → Neutral 09/12/2023 6.81% RBC Capital → $40 Reiterates Outperform → Outperform 09/07/2023 -22.56%

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Truist Financial (NYSE:TFC) stock Analyst Ratings

Truist Financial (NYSE:TFC) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/04/2024 15.65% B of A Securities → $43 Upgrades Neutral → Buy 01/02/2024 12.96% Barclays $40 → $42 Maintains Equal-Weight 12/14/2023 8.8% Odeon Capital → $40.45 Upgrades Hold → Buy 12/08/2023 -8.55% Piper Sandler $31 → $34 Maintains Neutral 12/04/2023 2.21% Morgan Stanley $40 → $38 Maintains Equal-Weight 11/20/2023 -11.24% Evercore ISI Group $31 → $33 Maintains In-Line 10/20/2023 -16.62% Piper Sandler $32 → $31 Maintains Neutral 10/05/2023 -8.55% Raymond James $36 → $34 Maintains Outperform 10/03/2023 7.58% Morgan Stanley $41 → $40 Maintains Equal-Weight 09/21/2023 -3.17% Keefe, Bruyette & Woods $37 → $36 Upgrades Market Perform → Outperform 09/15/2023 -13.93% Piper Sandler $36 → $32 Downgrades Overweight → Neutral 09/12/2023 7.58% RBC Capital → $40 Reiterates Outperform → Outperform 09/07/2023 -22% HSBC → $29 Initiates Coverage On → Hold 08/27/2023

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