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Truist Financial Corporation will report its second-quarter results on Monday, July 22, before the market opens. In this update, I share what I expect from Truist's Q2 results — especially given the solid Q2 report from rival U.S. Bancorp. I take a fresh look at the utilization of the Bank Term Funding Program, under which the Federal Reserve ceased making new loans in March.
A rise in fee income, driven by solid IB and wealth management businesses, is likely to have supported Truist's (TFC) Q2 earnings amid weakness in NII and elevated provisions.
Truist Financial (TFC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Truist's (TFC) board of directors has approved a share repurchase authorization worth $5 billion through 2026, following the clearance of the 2024 stress test.
CHARLOTTE, N.C. , June 28, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today released the results of its annual company-run stress test, conducted in accordance with the regulations of the Board of Governors of the Federal Reserve System ("Federal Reserve") and the Federal Deposit Insurance Corporation, under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Truist (TFC) is well-positioned for top-line improvement, supported by higher interest rates and decent loan growth. Yet, elevated costs might hurt profits.
Jobs for the Future will work to build inclusive career on-ramps in IT and bridge gaps in U.S. workforce and education systems. BOSTON , June 26, 2024 /PRNewswire/ -- Today, Jobs for the Future (JFF), a national nonprofit that drives transformation of the U.S. education and workforce systems, announced its partnership with Truist Foundation to improve economic mobility and advancement opportunities for learners and workers across three Southern states, Ohio, and Pennsylvania.
CHARLOTTE, N.C. , June 20, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) will report second-quarter 2024 financial results before the market opens on Monday, July 22, 2024.
Truist management has faced deserved criticism for poor execution and lagging performance, but deal integration challenges should be largely over and the insurance sale creates new options. Management has already used some of the insurance sale proceeds to reposition the balance sheet, improving the securities yield and adding net interest income leverage. Despite challenges in organic market share, Truist still compares well on metrics like net interest margin, asset yield, and operating efficiency, and the bank has capital to invest in growth.
Bill Gross thinks investors should be "exuberant" about one bank stock, in particular. He likes the stock's valuation and the bank's low exposure to commercial real estate.