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Despite Thursday's weaker-than-expected GDP figure, which hinted at a slowing economy, Trusist Co-Chief Investment Officer & Chief Market Strategist Keith Lerner joins Market Domination to explain why this number doesn't accurately reflect the economy's growth trajectory. Lerner argues that the GDP data was fine "underneath the hood," showing that consumers and businesses were still spending, and underlying demand remained robust.
Shares of Truist Financial (TFC) advanced Monday as the financial services provider posted a quarterly profit beat, but warned about revenue the rest of the year.
Digital channels continue to gain adherents in financial services, as Truist Financial Corp.'s latest earnings results showed Monday (April 22). Earnings supplementals revealed that mobile app users were up 8% to 4.9 million year over year.
While the top- and bottom-line numbers for Truist Financial (TFC) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
A rise in fee income and lower expenses and provisions support Truist's (TFC) Q1 earnings amid weakness in NII on lower average loan balance and high funding costs.
Higher funding and deposit costs, weak C&I loan demand and lower non-interest income are expected to have hurt Truist's (TFC) Q1 earnings.
Truist Financial may benefit from a higher for longer rate environment due to persistent inflation headwinds. The sale of Truist Insurance Holdings could lead to higher capital returns for the bank's shareholders. Truist Financial's shares also trade at a discount to book value again, translating into an attractive risk profile.
Beyond analysts' top -and-bottom-line estimates for Truist Financial (TFC), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended March 2024.
Truist Financial (TFC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Truist Financial Still Has Room To Run While Yielding 5.48%