The industry is dominated by a few prominent players, including JPMorgan Chase & Co., Bank of America Corporation, and Wells Fargo & Company. Truist Financial Corporation competes primarily based on its ability to provide personalized financial solutions to its clients. Technological advancements have also impacted the banking industry, enabling digital banks and fintech companies to compete with traditional banks.
- Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity.
- Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.
- To put that in perspective, the analyst consensus rating for ENPH stock is a moderate buy based on 27 opinions.
- Style is an investment factor that has a meaningful impact on investment risk and returns.
- 18 Wall Street analysts have issued “buy,” “hold,” and “sell” ratings for Truist Financial in the last year.
- The banking turmoil may have subsided, but there are still excellent bargains in the financial sector.
The remaining 80% stake provides capital-building flexibility, Rogers said Monday. The final $200 million in savings will come from spending less on technology. Still, the plan may not be enough to soothe investors’ frustration, analysts said. Before Monday’s announcement, market prognosticators had foreseen roughly a 1% decrease in Truist’s 2024 expenses. Truist, however, said it was confident capital markets business will rebound next year and expects dealmaking recovery as an opportunity for revenue growth going ahead. Truist Financial’s stock is owned by many different institutional and retail investors.
How big is Truist Financial Corp?
Truist Financial Corporation is an American bank holding company that provides various financial services to individuals and businesses. The company was formed in December 2019 through the merger of BB&T Corporation, and SunTrust Banks, Inc. Truist Financial Corporation is headquartered in Charlotte, North Carolina and operates over 2,500 branches in 15 states and over 3,000 ATMs across the United States.
Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The scores are based on the trading styles of Value, Growth, and Momentum.
This suggests a possible upside of 39.9% from the stock’s current price. View analysts price targets for TFC or view top-rated stocks among Wall Street analysts. Truist Financial Corporation has also identified several growth opportunities in its commercial banking business. The company has announced plans to expand its commercial lending capabilities, focusing on lending to small and mid-sized companies.
- Kelly S. King has an approval rating of 92% among the company’s employees.
- The company’s debt-to-equity ratio indicates a moderate level of debt.
- It allows the user to better focus on the stocks that are the best fit for his or her personal trading style.
- Truist Financial Corporation is an American bank holding company that provides various financial services to individuals and businesses.
Previously, William Rogers was the Chief Operating Officer for Truist with a history of working in different senior management positions starting in 1980. Also notable on the executive leadership team is Mark Maguire, the Chief Operating Officer with over 20 years of tenure at Truist working in multiple sectors, from merchant services to consumer finance. According to the Truist Securities analysts, the downgrade for ENPH stock comes alongside concerns about the solar energy sector.
To put that in perspective, the analyst consensus rating for ENPH stock is a moderate buy based on 27 opinions. Historical Stock Prices are provided for informational purposes only and are not intended for trading purposes. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.
Since 1988 it has more than doubled the S&P 500 with an average gain of +24.32% per year. These returns cover a period from January 1, 1988 through July 31, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return.
ENPH Stock Alert: Enphase Energy Moves on Truist Downgrade
Stockholders of record on Friday, August 11th will be given a dividend of $0.52 per share on Friday, September 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 7.27%. Another risk facing Truist Financial Corporation is the potential for increased regulatory and political pressure. The banking industry is heavily regulated, and regulation changes can significantly impact the industry. Truist Financial Corporation has a strong compliance culture and is well-positioned to adapt to changes in regulatory requirements. A diverse and competent team leads Truist Financial Corporation, with William H. Rogers Jr. as the Chairman and Chief Executive Officer.
Based in Charlotte, North Carolina, Truist is the combination of BB&T and SunTrust. Truist is a regional bank with a presence primarily in the Southeastern United States. In addition to commercial banking, retail banking, and investment banking operations, the company operates several nonbank segments, the primary one being its insurance brokerage business. Over the past month, the stock spiked by 0.40%, but over the past year, it actually decreased by 39.29%. With good short-term performance like this, and questionable long-term performance, long-term shareholders might want to start looking into the company’s price-to-earnings ratio. 18 Wall Street analysts have issued “buy,” “hold,” and “sell” ratings for Truist Financial in the last year.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated. To go along with this downgrade, analysts at the firm also decreased their price target from $210 per share to $135 per share.
The company has announced plans to expand its presence in several key markets, including Texas and California, through acquisitions and organic growth. Truist Financial Corporation has also invested in its digital capabilities, which has allowed the company to provide a range of digital banking services to its clients. The company’s digital banking platform, Truist Digital, offers a range of features, including mobile banking, online banking, and digital payments. In addition, Truist Financial Corporation has announced plans to launch a new digital bank, Truist Bank, which will offer clients a range of innovative financial solutions. Truist Financial Corporation operates in the highly competitive banking industry, subject to various regulatory and political issues.
Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. Get this delivered to your inbox, and more info about our products and services. “Will they sell another portion to restructure some of the balance sheet?” Siefers said, adding that the bank still needs to determine how to proceed.
The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.
The company aims to help clients achieve financial confidence and security through personalized financial solutions. Truist also said Monday that it expects to generate more revenue in areas such as investment banking, payments, insurance and retail and small-business banking, as well as commercial and corporate banking. In addition, the company said that it has revised its executive compensation to better align with shareholder returns.
There are currently 11 hold ratings and 7 buy ratings for the stock. The consensus among Wall Street analysts is that investors should “hold” TFC shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in TFC, but not buy additional shares or list of cost accounting standards sell existing shares. ENPH stock was initially down in early morning trading alongside this downgrade. However, the company’s stock has since recovered and is now up slightly. Stock movement today has some 1.2 million shares changing hands, as compared to a daily average of 3.8 million shares.
There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. 108 employees have rated Truist Financial Chief Executive Officer Kelly S. King on Glassdoor.com. Kelly S. King has an approval rating of 92% among the company’s employees.
Truist has been under pressure to take aggressive steps to cut its noninterest expenses, which have stayed elevated over the past several quarters. Mayo has been highly critical of Truist in recent months, saying the company needs to “take action with urgency” to turn things around. “People wanted to see some sort of tangible evidence of a sense of urgency from management, so just getting something out there is good,” Piper Sandler analyst Scott Siefers said in an interview. “Our revenue and adjusted expenses for the third quarter and for full year 2023 are tracking in line with the outlook that we provided,” Rogers said. The failures of three U.S. lenders earlier this year sparked the biggest industry crisis since 2008.
FAQs for Truist Financial Corp Stock
The company’s price-to-book ratio is slightly lower than the industry average. These metrics suggest that Truist Financial Corporation is https://1investing.in/ possibly undervalued relative to its peers. Truist Financial Corporation has performed on par with industry peers over the past year.
Truist Financial Corporation has responded to this trend by investing in its digital capabilities and launching new digital products and services. Truist is one of the larger regional banks in the U.S. and its presence is largely concentrated in the east and southeast. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system.
Truist Financial Corporation faces risks and challenges that may impact its future performance. One of the company’s most significant risks is the potential for increased competition from digital banks and fintech companies. These companies have rapidly gained market share by offering innovative financial solutions and leveraging technology to improve customer experience. Truist Financial Corporation has responded to this challenge by investing in its digital capabilities and launching new digital products and services. 18 Wall Street analysts have issued 1 year price objectives for Truist Financial’s shares. On average, they predict the company’s stock price to reach $40.04 in the next year.
High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks.
This top 10 U.S. commercial bank is well-positioned to address the rapid changes in the financial industry. Many regional banks are still well below the highs, and there are some excellent opportunities for investors. There are some excellent values in dividend stocks for patient investors right now. The technique has proven to be very useful for finding positive surprises. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest.
The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s. Upgrade to MarketBeat All Access to add more stocks to your watchlist.