Truist Financial (TFC)
Market Price (10/13/2026): $46.63 | Market Cap: $57.1 BilInvestor Relations Sector: Financials | Industry: Diversified Banks
Truist Financial (TFC)
Market Price (10/13/2026): $46.63Market Cap: $57.1 BilSector: FinancialsIndustry: Diversified Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 4.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 10% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%, CFO LTM is 5.8 Bil, FCF LTM is 5.8 Bil Stock buyback supportStock Buyback 3Y Total is 7.6 Bil Low stock price volatilityVol 12M is 24% Capital ratio is >2x the minimum of 6%Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 12% Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 19% Megatrend and thematic driversMegatrends include Fintech & Digital Payments, AI in Financial Services, Sustainable Finance, and Digital & Alternative Assets. Show more. | Weak multi-year price returns2Y Excs Rtn is -16% | Key risksTFC key risks include [1] substantial pressure on net interest income and exacerbated unrealized losses on its portfolio due to interest rate fluctuations, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 4.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 10% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%, CFO LTM is 5.8 Bil, FCF LTM is 5.8 Bil |
| Stock buyback supportStock Buyback 3Y Total is 7.6 Bil |
| Low stock price volatilityVol 12M is 24% |
| Capital ratio is >2x the minimum of 6%Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 12% |
| Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 19% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, AI in Financial Services, Sustainable Finance, and Digital & Alternative Assets. Show more. |
| Weak multi-year price returns2Y Excs Rtn is -16% |
| Key risksTFC key risks include [1] substantial pressure on net interest income and exacerbated unrealized losses on its portfolio due to interest rate fluctuations, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Truist Financial (TFC) stock has lost about 5% since 6/30/2026 because of the following key factors:
1. Broader Banking Sector Underperformance Amid Macroeconomic Headwinds.
Truist Financial's stock movement since June 30, 2026, occurred within a challenging environment for the broader regional banking sector, which underperformed by approximately 5-6% on average since fiscal Q2 2026 earnings. This underperformance was driven by a turbulent macroeconomic backdrop, including a sharp global bond selloff that pushed the 10-year Treasury yield to post-2007 highs above 5.1% and the 30-year yield to its highest since 2004. These rising Treasury yields and expectations for further Federal Reserve rate hikes fueled concerns over net interest margin compression and potential pressure on credit demand and deposit costs for banks sector-wide.
2. Strategic Portfolio Reshuffling and Margin Headwinds.
The company announced its exit from the near-prime auto lending business, agreeing to sell $5.5 billion in auto loans from its Regional Acceptance unit. While this move is expected to generate approximately $5.2 billion in net proceeds and boost CET1 capital by about 22 basis points, it also highlights strategic portfolio reshuffling that may have introduced uncertainty regarding future growth segments. Additionally, Truist experienced modest compression in net interest margins and near-term yield pressure from hedging swaps, which continued to constrain investor enthusiasm despite the company delivering improved net profit margins near 30% and consistent quarterly earnings beats in fiscal 2026.
Show more
Truist Financial (TFC) stock has lost about 5% since 6/30/2026 because of the following key factors:
1. Broader Banking Sector Underperformance Amid Macroeconomic Headwinds.
Truist Financial's stock movement since June 30, 2026, occurred within a challenging environment for the broader regional banking sector, which underperformed by approximately 5-6% on average since fiscal Q2 2026 earnings. This underperformance was driven by a turbulent macroeconomic backdrop, including a sharp global bond selloff that pushed the 10-year Treasury yield to post-2007 highs above 5.1% and the 30-year yield to its highest since 2004. These rising Treasury yields and expectations for further Federal Reserve rate hikes fueled concerns over net interest margin compression and potential pressure on credit demand and deposit costs for banks sector-wide.
2. Strategic Portfolio Reshuffling and Margin Headwinds.
The company announced its exit from the near-prime auto lending business, agreeing to sell $5.5 billion in auto loans from its Regional Acceptance unit. While this move is expected to generate approximately $5.2 billion in net proceeds and boost CET1 capital by about 22 basis points, it also highlights strategic portfolio reshuffling that may have introduced uncertainty regarding future growth segments. Additionally, Truist experienced modest compression in net interest margins and near-term yield pressure from hedging swaps, which continued to constrain investor enthusiasm despite the company delivering improved net profit margins near 30% and consistent quarterly earnings beats in fiscal 2026.
3. Cautious Analyst Sentiment.
Throughout fiscal Q3 2026, analysts maintained a cautious outlook on Truist Financial, with a consensus "Hold" rating from Wall Street. While the average analyst price target was around $54.37 to $55.44, indicating potential upside from current levels, some firms, including Stephens, trimmed their price targets for TFC to $55 from $57. This cautious sentiment, reflecting a divided market on the stock's strong buy potential, likely contributed to the lack of upward momentum.
Show less
Stock Movement Drivers
Fundamental Drivers
The -5.5% change in TFC stock from 6/30/2026 to 10/12/2026 was primarily driven by a -12.2% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10122026 | Change |
|---|---|---|---|
| Stock Price ($) | 49.33 | 46.64 | -5.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 20,572 | 20,850 | 1.4% |
| Net Income Margin (%) | 26.9% | 28.0% | 4.3% |
| P/E Multiple | 11.1 | 9.8 | -12.2% |
| Shares Outstanding (Mil) | 1,249 | 1,225 | 1.9% |
| Cumulative Contribution | -5.5% |
Market Drivers
6/30/2026 to 10/12/2026| Return | Correlation | |
|---|---|---|
| TFC | -5.5% | |
| Market (SPY) | 4.2% | 37.6% |
| Sector (XLF) | 2.7% | 75.0% |
Fundamental Drivers
The 3.5% change in TFC stock from 3/31/2026 to 10/12/2026 was primarily driven by a 7.2% change in the company's Net Income Margin (%).| (LTM values as of) | 3312026 | 10122026 | Change |
|---|---|---|---|
| Stock Price ($) | 45.04 | 46.64 | 3.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 20,319 | 20,850 | 2.6% |
| Net Income Margin (%) | 26.1% | 28.0% | 7.2% |
| P/E Multiple | 10.8 | 9.8 | -9.0% |
| Shares Outstanding (Mil) | 1,267 | 1,225 | 3.5% |
| Cumulative Contribution | 3.5% |
Market Drivers
3/31/2026 to 10/12/2026| Return | Correlation | |
|---|---|---|
| TFC | 3.5% | |
| Market (SPY) | 20.0% | 23.1% |
| Sector (XLF) | 11.9% | 64.9% |
Fundamental Drivers
The 6.4% change in TFC stock from 9/30/2025 to 10/12/2026 was primarily driven by a 7.5% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 10122026 | Change |
|---|---|---|---|
| Stock Price ($) | 43.84 | 46.64 | 6.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 20,031 | 20,850 | 4.1% |
| Net Income Margin (%) | 26.1% | 28.0% | 7.5% |
| P/E Multiple | 10.9 | 9.8 | -9.9% |
| Shares Outstanding (Mil) | 1,292 | 1,225 | 5.5% |
| Cumulative Contribution | 6.4% |
Market Drivers
9/30/2025 to 10/12/2026| Return | Correlation | |
|---|---|---|
| TFC | 6.4% | |
| Market (SPY) | 17.8% | 37.8% |
| Sector (XLF) | 3.4% | 71.4% |
Fundamental Drivers
The 88.9% change in TFC stock from 9/30/2023 to 10/12/2026 was primarily driven by a 82.5% change in the company's P/E Multiple.| (LTM values as of) | 9302023 | 10122026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.69 | 46.64 | 88.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 19,264 | 20,850 | 8.2% |
| Net Income Margin (%) | 31.9% | 28.0% | -12.1% |
| P/E Multiple | 5.4 | 9.8 | 82.5% |
| Shares Outstanding (Mil) | 1,332 | 1,225 | 8.7% |
| Cumulative Contribution | 88.9% |
Market Drivers
9/30/2023 to 10/12/2026| Return | Correlation | |
|---|---|---|
| TFC | 88.9% | |
| Market (SPY) | 88.3% | 56.8% |
| Sector (XLF) | 73.2% | 76.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TFC Return | 26% | -24% | -9% | 24% | 19% | -3% | 25% |
| Peers Return | 40% | -17% | 13% | 34% | 26% | 3% | 128% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| TFC Win Rate | 67% | 42% | 33% | 67% | 58% | 40% | |
| Peers Win Rate | 67% | 42% | 55% | 60% | 63% | 42% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TFC Max Drawdown | -16% | -38% | -47% | -12% | -27% | -21% | |
| Peers Max Drawdown | -13% | -37% | -29% | -14% | -26% | -18% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PNC, USB, WFC, BAC, JPM. See TFC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/12/2026 (YTD)
How Low Can It Go
| Event | TFC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -26.8% | -18.8% |
| % Gain to Breakeven | 36.6% | 23.1% |
| Time to Breakeven | 144 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -15.6% | -9.5% |
| % Gain to Breakeven | 18.5% | 10.5% |
| Time to Breakeven | 23 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -46.6% | -6.7% |
| % Gain to Breakeven | 87.3% | 7.1% |
| Time to Breakeven | 552 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -31.2% | -24.5% |
| % Gain to Breakeven | 45.3% | 32.4% |
| Time to Breakeven | 1147 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -53.0% | -33.7% |
| % Gain to Breakeven | 112.6% | 50.9% |
| Time to Breakeven | 297 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -15.0% | -19.2% |
| % Gain to Breakeven | 17.7% | 23.8% |
| Time to Breakeven | 25 days | 105 days |
In The Past
Truist Financial's stock fell -26.8% during the 2025 US Tariff Shock. Such a loss loss requires a 36.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | TFC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -26.8% | -18.8% |
| % Gain to Breakeven | 36.6% | 23.1% |
| Time to Breakeven | 144 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -46.6% | -6.7% |
| % Gain to Breakeven | 87.3% | 7.1% |
| Time to Breakeven | 552 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -31.2% | -24.5% |
| % Gain to Breakeven | 45.3% | 32.4% |
| Time to Breakeven | 1147 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -53.0% | -33.7% |
| % Gain to Breakeven | 112.6% | 50.9% |
| Time to Breakeven | 297 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -23.5% | -12.2% |
| % Gain to Breakeven | 30.7% | 13.9% |
| Time to Breakeven | 238 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.8% | -17.9% |
| % Gain to Breakeven | 36.6% | 21.8% |
| Time to Breakeven | 135 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -25.1% | -15.4% |
| % Gain to Breakeven | 33.5% | 18.2% |
| Time to Breakeven | 630 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -54.8% | -53.4% |
| % Gain to Breakeven | 121.3% | 114.4% |
| Time to Breakeven | 195 days | 1085 days |
In The Past
Truist Financial's stock fell -26.8% during the 2025 US Tariff Shock. Such a loss loss requires a 36.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Truist Financial (TFC)
Truist Financial Corporation (TFC) is a prominent financial holding company offering a comprehensive range of banking, wealth management, and insurance services. Operating primarily across the Southeastern and Mid-Atlantic regions of the United States, Truist serves a diverse client base, including individual consumers, small businesses, and large corporations. The company's operations are structured into segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.
For its consumer and small business clientele, Truist provides a full suite of deposit products, including checking, savings, money market, and certificate of deposit accounts. Its extensive lending portfolio covers consumer needs such as automobile, home equity, and mortgage loans, as well as small business and student lending. Additionally, the company offers modern conveniences like mobile and online banking, payment solutions, and lease financing.
Truist also caters to affluent individuals and institutional clients through its wealth management, private banking, investment brokerage, and advisory services. Its corporate and commercial banking division delivers sophisticated solutions like capital markets, international banking, and various commercial and real estate lending products to middle-market and large enterprises. A significant aspect of Truist's business is its Insurance Holdings segment, which provides a broad spectrum of property and casualty, life, health, and specialty insurance products.
AI Analysis | Feedback
A regional Bank of America.
Wells Fargo for the Southeastern and Mid-Atlantic U.S.
AI Analysis | Feedback
- Deposit Accounts: Truist offers a variety of checking, savings, money market, certificate of deposit, and individual retirement accounts.
- Lending Services: The company provides a broad range of loans including consumer, auto, credit card, home equity, mortgage, small business, student, commercial, real estate, and lease financing.
- Insurance Products: Truist offers property and casualty, life, health, employee benefits, workers compensation, professional liability, and other specialty insurance products.
- Wealth Management & Investment Services: These services encompass asset management, investment brokerage, private banking, institutional trust, and investment advisory for individuals and institutions.
- Commercial & Treasury Solutions: Truist provides businesses with commercial deposit products, treasury management, payment processing, international banking, and supply chain financing.
- Corporate & Investment Banking: The company delivers corporate and investment banking, capital markets services, securities underwriting, and private equity investment.
AI Analysis | Feedback
Truist Financial (TFC) serves a highly diversified customer base, encompassing individuals, businesses of all sizes, and institutional clients. As a universal bank, it does not have a few "major customers" in the traditional sense, but rather a vast number of clients across various segments. Its services are not primarily sold to a handful of other companies, nor exclusively to individuals. Therefore, the most appropriate way to identify its customers is by describing categories.
The major customer categories for Truist Financial are:
-
Individual Consumers & Households: This category includes individuals utilizing a wide array of retail banking services such as checking, savings, money market accounts, certificates of deposit, individual retirement accounts, automobile lending, bankcard lending, consumer finance, home equity and mortgage lending, and student lending. It also covers clients seeking investment brokerage, mobile/online banking, and comprehensive wealth management/private banking services.
-
Small to Mid-Market Businesses & Commercial Clients: This segment comprises small businesses and middle-market companies that leverage Truist for services like small business lending, commercial middle market lending, commercial deposit and treasury management, lease financing, merchant services, floor plan lending, real estate lending, and various business insurance products (e.g., workers' compensation, professional liability, property & casualty).
-
Large Corporations, Institutional Clients, & Governmental Entities: This category includes larger corporations, financial institutions, and government agencies. They access Truist's corporate and investment banking, capital markets services (e.g., securities underwriting, investment advisory), institutional trust services, international banking, government finance, mortgage warehouse lending, private equity investment services, and specialized commercial finance solutions.
AI Analysis | Feedback
Alphabet Inc. (GOOGL)
Amazon.com, Inc. (AMZN)
Salesforce, Inc. (CRM)
AI Analysis | Feedback
AI Analysis | Feedback
- Credit Risk and Economic Downturn: The company's profitability is highly susceptible to the credit quality of its loan portfolio and broader economic conditions. A recession or significant economic slowdown could lead to increased loan defaults, higher provision for credit losses, and reduced lending activity across its diverse lending segments, including consumer, commercial, home equity, and mortgage.
- Interest Rate Fluctuations: As a large financial institution offering various deposit and lending products, Truist's net interest income is significantly sensitive to changes in interest rates. Adverse shifts in the interest rate environment can compress net interest margins (the difference between interest earned on assets and interest paid on liabilities), thereby impacting overall profitability.
- Digital Transformation and Competition / Legacy Branch Network: Truist operates a substantial network of 2,517 banking offices as of December 31, 2021. In an evolving banking landscape increasingly driven by digital channels and fintech innovation, this extensive physical footprint could represent a significant operational cost burden and a potential competitive disadvantage against more agile, digitally-native financial service providers and other large banks investing heavily in technology. This could lead to challenges in attracting and retaining customers who prefer digital banking and pressure on efficiency and market share.
AI Analysis | Feedback
Neobanks and Fintech Platforms: These digital-first financial institutions and technology companies are increasingly offering banking services (deposits, lending, payments) without the overhead of physical branches. They attract customers with superior digital experiences, lower fees, and specialized products, directly competing with Truist's Consumer Banking and Wealth segment.
Big Tech Companies Entering Financial Services: Major technology companies like Apple, Google, and Amazon leverage their vast user bases, data analytics, and technological infrastructure to offer financial products (e.g., payment services, credit cards, savings accounts, small business lending). This threatens Truist by disintermediating relationships with consumers and small businesses, often with greater digital convenience and brand loyalty.
AI Analysis | Feedback
AI Analysis | Feedback
Truist Financial (TFC) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market dynamics:
- Net Interest Income (NII) Growth: Truist projects a 3% to 4% growth in net interest income for 2026. This growth is anticipated to be fueled by continued loan growth, declining deposit costs, and the benefits of fixed-rate asset repricing. Management expects full-year 2026 average net interest margin to exceed the 2025 average due to these factors.
- Expansion of Noninterest Income: The company forecasts mid-to-high single-digit growth in noninterest income for 2026. This is expected to be driven by a stronger emphasis on wealth management services, a recovery in investment banking and trading activities, and growth in treasury management and payment fees.
- Investments in Technology and Digital Capabilities: Truist is strategically investing in technology and enhancing its digital capabilities. These investments are aimed at improving operational efficiency, reducing costs, and expanding revenue and margin. The company has seen increased digital client acquisition and production, indicating success in these initiatives.
- Branch Expansion and Focus on High-Growth Markets: Truist is expanding its physical branch network and strategically investing in high-growth markets. This geographic expansion is intended to accelerate revenue growth and foster deeper client relationships.
- Growth in Commercial and Other Consumer Loans: The company anticipates average loan growth of 3% to 4% in 2026, primarily driven by increases in commercial loans and other consumer loans, including specialty lending businesses. This sustained loan demand is a key component supporting the projected net interest income growth.
AI Analysis | Feedback
Share Repurchases
- In December 2025, Truist authorized a new share repurchase program of up to $10 billion of its common stock, effective immediately and without an expiration date. This program replaced a prior authorization that had approximately $1.5 billion remaining.
- During 2024, Truist repurchased $1.0 billion of common stock, contributing to a total of $3.8 billion returned to common shareholders, which also included common dividends.
- In the first quarter of 2025, Truist executed $500 million in share buybacks and planned to repurchase an additional $750 million in shares during the second quarter of 2025.
Share Issuance
- Truist's basic shares outstanding have shown a general decline over the past few years, reflecting net share repurchases rather than significant new share issuances.
- For the twelve months ending December 31, 2025, basic shares outstanding were 1.287 billion, representing a 3.33% decline year-over-year from 2024.
- As of March 13, 2026, the company's shares outstanding were approximately 1.25 billion.
Outbound Investments
- In May 2024, Truist divested Sterling Capital Management LLC and completed the sale of its remaining 80% stake in Truist Insurance Holdings for $15.5 billion, which significantly enhanced its financial profile and created capacity for other capital allocations, including shareholder returns.
- In August 2025, Truist announced a multi-year strategic growth investment over the next five years to expand its presence in high-growth markets.
- Truist acquired Service Finance Company in 2024 to enhance its point-of-sale lending platform.
Capital Expenditures
- As part of a multi-year strategic growth investment announced in August 2025, Truist plans to build 100 new insights-driven branches and renovate more than 300 existing branches in high-growth markets over the next five years.
- The company has been making significant investments in technology upgrades and related initiatives, which contributed to elevated operating expenses in 2025 and are expected to continue in the near term.
Peer Outperformance in Diversified Banks
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| TFC | Truist Financial | 8.8% | 9.8x | 15.0% | 90.3% | -1.5% | — |
| CM | Canadian Imperial Bank of Commerce | 12.1% | 9.9x | 42.0% | 232.9% | 138.1% | +140pp |
| JPM | JPMorgan Chase | 10.8% | 13.8x | 13.2% | 140.7% | 128.9% | +130pp |
| RY | Royal Bank of Canada | 11.6% | 11.8x | 37.9% | 155.0% | 124.2% | +126pp |
| C | Citigroup | 6.5% | 12.6x | 43.4% | 249.0% | 121.5% | +123pp |
| TD | Toronto-Dominion Bank | 8.9% | 11.8x | 53.2% | 124.6% | 109.4% | +111pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top null by 5Y |
|---|---|---|---|---|---|
| Reinsurance | 6 | 20.5% | 64.5% | 116.1% | SPNT 175% · RGA 141% · RNR 141% |
| Diversified Banks ← | 12 | 33.2% | 128.1% | 98.2% | CM 138% · JPM 129% · RY 124% |
| Investment Banking & Brokerage | 13 | -2.6% | 101.6% | 94.7% | IBKR 403% · SNEX 199% · HOOD 169% |
| Life & Health Insurance | 20 | 12.6% | 51.7% | 83.3% | JXN 489% · UNM 291% · MFC 175% |
| Property & Casualty Insurance | 42 | 8.3% | 72.0% | 61.3% | PGR 172% · TRV 161% · ACGL 150% |
| Multi-Sector Holdings | 3 | 3.9% | 50.0% | 57.6% | BRK-B 86% · VOYA 58% · JEF 36% |
| Multi-line Insurance | 9 | 7.1% | 64.0% | 54.9% | GNW 112% · L 93% · AIZ 81% |
| Regional Banks | 263 | 30.3% | 92.2% | 49.1% | CBC 220% · FCNCA 152% · FBP 135% |
| Financial Exchanges & Data | 15 | 3.8% | 43.0% | 31.8% | VIRT 163% · CBOE 154% · CME 69% |
| Consumer Finance | 30 | 10.0% | 87.1% | 22.7% | ENVA 389% · EZPW 289% · FCFS 166% |
| Asset Management & Custody Banks | 81 | -7.6% | 17.9% | 15.4% | WT 341% · SII 263% · VCTR 260% |
| Diversified Financial Services | 4 | -2.6% | 17.7% | 13.7% | FRHC 168% · EQH 91% |
| Insurance Brokers | 15 | -21.6% | -2.6% | 9.6% | LIFE 295% · ARX 88% · AJG 57% |
| Commercial & Residential Mortgage Finance | 14 | -53.6% | 24.4% | -3.9% | FNMA 389% · FMCC 344% · ACT 175% |
| Specialized Finance | 3 | 14.5% | 35.6% | -12.9% | CACC -13% · HASI -16% |
| Mortgage REITs | 33 | -15.1% | -3.4% | -32.7% | RITM 26% · DX 19% · AGNC 8% |
| Transaction & Payment Processing Services | 17 | 0.3% | -3.4% | -38.5% | V 80% · MA 78% · CPAY 56% |
| Diversified Capital Markets | 20 | -44.6% | 16.6% | -61.3% | LPLA 102% · TW 35% · RIOT -35% |
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 70.56 |
| Mkt Cap | 172.0 |
| Rev LTM | 58,190 |
| Op Inc LTM | - |
| FCF LTM | 10,006 |
| FCF 3Y Avg | 8,506 |
| CFO LTM | 10,006 |
| CFO 3Y Avg | 8,506 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.2% |
| Rev Chg 3Y Avg | 5.1% |
| Rev Chg Q | 11.9% |
| QoQ Delta Rev Chg LTM | 2.8% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 29.1% |
| CFO/Rev 3Y Avg | 29.9% |
| FCF/Rev LTM | 29.1% |
| FCF/Rev 3Y Avg | 29.9% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Wholesale Banking (WB) | 11,970 | 12,503 | 12,723 | 9,910 | 8,531 |
| Consumer and Small Business Banking (CSBB) | 8,193 | 7,371 | 8,000 | 8,784 | 12,874 |
| Other, Treasury and Corporate (OT&C) | 156 | -6,596 | -701 | 1,279 | -1,767 |
| Insurance Holdings (IH) | 2,658 | ||||
| Total | 20,319 | 13,278 | 20,022 | 19,973 | 22,296 |
| $ Mil | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|
| Residential Mortgage Banking | 1,389 | 411 | 458 | 642 | -27 |
| Community Banking | 1,383 | 2,503 | 1,553 | 2,059 | 832 |
| Specialized Lending | 618 | 406 | 372 | 382 | 297 |
| Dealer Financial Services | 483 | 324 | 328 | 371 | 327 |
| Insurance Services | 419 | 482 | 252 | 356 | 149 |
| Financial Services | 315 | 547 | 488 | 525 | 461 |
| Other, Treasury and Corporate (OT&C) | -1,585 | -1,687 | -3,123 | -1,433 | -411 |
| Total | 3,022 | 2,986 | 328 | 2,902 | 1,628 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Wholesale Banking (WB) | 4,102 | 3,856 | 169 | 4,446 | 4,818 |
| Consumer and Small Business Banking (CSBB) | 2,529 | 3,075 | -36 | 3,228 | 3,827 |
| Other, Treasury and Corporate (OT&C) | -1,324 | -6,976 | -1,636 | -1,895 | -2,696 |
| Insurance Holdings (IH) | 488 | ||||
| Total | 5,307 | -45 | -1,503 | 5,779 | 6,437 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Wholesale Banking (WB) | 223,991 | 206,028 | 209,223 | 215,197 | 185,590 |
| Other, Treasury and Corporate (OT&C) | 169,901 | 177,744 | 171,592 | 169,807 | 188,635 |
| Consumer and Small Business Banking (CSBB) | 153,646 | 147,404 | 146,879 | 162,596 | 160,851 |
| Insurance Holdings (IH) | 6,165 | ||||
| Total | 547,538 | 531,176 | 527,694 | 547,600 | 541,241 |
Price Behavior
| Market Price | $46.64 | |
| Market Cap ($ Bil) | 57.1 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -13.9% | |
| 50 Days | 200 Days | |
| DMA Price | $49.58 | $48.97 |
| DMA Trend | down | indeterminate |
| Distance from DMA | -5.9% | -4.8% |
| 3M | 1YR | |
| Volatility | 19.7% | 24.4% |
| Downside Capture | 125.87 | 86.45 |
| Upside Capture | 50.53 | 82.53 |
| Correlation (S&P 500) | 37.8% | 38.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.19 | 0.84 | 0.80 | 0.47 | 0.72 | 1.03 |
| Up Beta | -1.19 | 0.70 | 0.14 | 0.13 | 0.50 | 1.01 |
| Down Beta | 0.73 | 1.27 | 0.79 | -0.02 | 0.63 | 1.08 |
| Up Capture | 115% | 43% | 80% | 57% | 71% | 107% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 11 | 22 | 35 | 71 | 142 | 397 |
| Down Capture | 223% | 155% | 128% | 89% | 91% | 101% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 11 | 20 | 28 | 54 | 109 | 350 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TFC | |
|---|---|---|---|---|
| TFC | 10.0% | 24.4% | 0.33 | - |
| Sector ETF (XLF) | 4.5% | 14.8% | 0.08 | 71.6% |
| Equity (SPY) | 17.0% | 13.0% | 0.93 | 38.6% |
| Gold (GLD) | 4.6% | 29.5% | 0.15 | 7.6% |
| Commodities (DBC) | 48.0% | 20.9% | 1.77 | -20.9% |
| Real Estate (VNQ) | 6.2% | 13.8% | 0.19 | 45.6% |
| Bitcoin (BTCUSD) | -32.3% | 44.3% | -0.76 | 13.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TFC | |
|---|---|---|---|---|
| TFC | -0.2% | 31.5% | 0.03 | - |
| Sector ETF (XLF) | 9.6% | 18.3% | 0.38 | 76.7% |
| Equity (SPY) | 14.1% | 17.1% | 0.63 | 58.0% |
| Gold (GLD) | 18.3% | 18.9% | 0.78 | -0.4% |
| Commodities (DBC) | 9.9% | 19.5% | 0.39 | 9.8% |
| Real Estate (VNQ) | 1.5% | 18.8% | -0.03 | 53.1% |
| Bitcoin (BTCUSD) | 11.0% | 52.0% | 0.39 | 18.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TFC | |
|---|---|---|---|---|
| TFC | 6.4% | 33.6% | 0.27 | - |
| Sector ETF (XLF) | 13.1% | 22.1% | 0.54 | 84.2% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 63.9% |
| Gold (GLD) | 11.8% | 16.4% | 0.58 | -4.9% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 20.9% |
| Real Estate (VNQ) | 4.6% | 20.7% | 0.18 | 57.4% |
| Bitcoin (BTCUSD) | 63.4% | 66.2% | 1.03 | 15.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/19/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/17/2026 | -1.4% | -3.8% | 0.7% |
| 4/17/2026 | 2.3% | 4.0% | -4.0% |
| 1/21/2026 | 1.8% | 3.6% | 6.4% |
| 10/17/2025 | 3.7% | 6.1% | 10.4% |
| 7/18/2025 | -1.7% | 1.0% | -0.1% |
| 4/17/2025 | -0.3% | 5.3% | 16.5% |
| 1/17/2025 | 5.9% | 4.5% | 7.0% |
| 10/17/2024 | -3.5% | -2.4% | 5.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 18 |
| # Negative | 13 | 11 | 6 |
| Median Positive | 2.6% | 4.5% | 6.7% |
| Median Negative | -1.7% | -4.0% | -6.1% |
| Max Positive | 5.9% | 6.6% | 16.5% |
| Max Negative | -7.1% | -12.0% | -17.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/17/2026 | -1.4% | -3.8% | 0.7% |
| 4/17/2026 | 2.3% | 4.0% | -4.0% |
| 1/21/2026 | 1.8% | 3.6% | 6.4% |
| 10/17/2025 | 3.7% | 6.1% | 10.4% |
| 7/18/2025 | -1.7% | 1.0% | -0.1% |
| 4/17/2025 | -0.3% | 5.3% | 16.5% |
| 1/17/2025 | 5.9% | 4.5% | 7.0% |
| 10/17/2024 | -3.5% | -2.4% | 5.0% |
| 7/22/2024 | 3.2% | 4.7% | 2.5% |
| 4/22/2024 | 3.4% | 3.7% | 7.5% |
| 1/18/2024 | 0.6% | 4.9% | 3.0% |
| 10/19/2023 | -2.4% | -2.7% | 11.3% |
| 7/20/2023 | -7.1% | -6.3% | -17.2% |
| 4/20/2023 | -3.8% | -12.0% | -12.6% |
| 1/19/2023 | 4.3% | 6.6% | 6.0% |
| 10/18/2022 | -2.4% | -4.0% | 5.5% |
| 7/19/2022 | 2.6% | 4.3% | 11.6% |
| 4/19/2022 | -1.2% | -3.5% | -8.1% |
| 1/18/2022 | -0.4% | -7.6% | -3.2% |
| 10/15/2021 | 1.2% | 4.8% | 4.2% |
| 7/15/2021 | 2.6% | 1.6% | 8.4% |
| 4/15/2021 | -4.1% | -4.9% | 2.2% |
| 1/21/2021 | -1.1% | -6.3% | 12.5% |
| 10/15/2020 | -0.3% | -0.8% | 10.7% |
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 18 |
| # Negative | 13 | 11 | 6 |
| Median Positive | 2.6% | 4.5% | 6.7% |
| Median Negative | -1.7% | -4.0% | -6.1% |
| Max Positive | 5.9% | 6.6% | 16.5% |
| Max Negative | -7.1% | -12.0% | -17.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 07/31/2023 | 10-Q |
| 03/31/2023 | 05/01/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 10/31/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/24/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/01/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 07/31/2023 | 10-Q |
| 03/31/2023 | 05/01/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 10/31/2022 | 10-Q |
| 06/30/2022 | 08/01/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/23/2022 | 10-K |
| 09/30/2021 | 11/02/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/03/2021 | 10-Q |
| 12/31/2020 | 02/24/2021 | 10-K |
| 09/30/2020 | 11/02/2020 | 10-Q |
| 06/30/2020 | 08/04/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 03/03/2020 | 10-K |
| 09/30/2019 | 10/25/2019 | 10-Q |
Insider Activity
Updated 9/18/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lyons, Michael P | President & CEO | Direct | Buy | 9182026 | 48.36 | 21,000 | 1,015,577 | 1,015,577 | Form |
| 2 | Wilson, Donta L | Chief Consumer & SB BK Officer | Direct | Sell | 8042026 | 51.85 | 13,280 | 688,618 | 2,904,285 | Form |
| 3 | Boyer, K. David JR | Direct | Sell | 7272026 | 50.70 | 3,986 | 202,090 | 520,706 | Form | |
| 4 | Rogers, William H JR | Chairman & CEO | 2023 GRAT | Sell | 7222026 | 52.36 | 13,250 | Form | ||
| 5 | Powell, Cynthia B | Corp. Controller & CAO | Direct | Sell | 2042026 | 52.49 | 3,500 | 183,715 | 35,011 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lyons, Michael P | President & CEO | Direct | Buy | 9182026 | 48.36 | 21,000 | 1,015,577 | 1,015,577 | Form |
| 2 | Wilson, Donta L | Chief Consumer & SB BK Officer | Direct | Sell | 8042026 | 51.85 | 13,280 | 688,618 | 2,904,285 | Form |
| 3 | Boyer, K. David JR | Direct | Sell | 7272026 | 50.70 | 3,986 | 202,090 | 520,706 | Form | |
| 4 | Rogers, William H JR | Chairman & CEO | 2023 GRAT | Sell | 7222026 | 52.36 | 13,250 | Form | ||
| 5 | Powell, Cynthia B | Corp. Controller & CAO | Direct | Sell | 2042026 | 52.49 | 3,500 | 183,715 | 35,011 | Form |
| 6 | Maguire, Michael Baron | Chief Financial Officer | Direct | Sell | 1282026 | 50.13 | 13,000 | 651,664 | 3,725,673 | Form |
| 7 | Boyer, K. David JR | Direct | Sell | 11282025 | 46.45 | 5,160 | 239,682 | 471,601 | Form |
Investor Activity (13F)
Updated Oct 13, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
TFC Trade Sentinel
Constructive
CONVICTION RATIONALE
Truist is executing a credible pivot, trading lower-quality revenue for higher profitability. This is confirmed by a return on tangible common equity of 15.4% in the latest quarter and a raised full-year target above 14%. While near-term interest income faces headwinds, the strategy is supported by an aggressive $5 billion share repurchase target for 2026.
STOCK ARCHETYPE
Financial Services / Banking(Average Earning Assets * Net Interest Margin) + Fee Income Net Interest Margin (NIM) expansion and growth in high-margin fee-based businesses, coupled with operating leverage from expense discipline.
INVESTMENT THESIS
Evidence suggests yes. Truist is successfully trading top-line growth for higher returns and capital efficiency.
- Return on tangible common equity improved 310 basis points YoY to 15.4% in Q2 2026.
- Management targets approximately $5 billion of share buybacks in 2026.
- Generated 320 basis points of positive operating leverage in Q2 2026.
- Middle market deposits, a strategic focus, grew 12% year-over-year.
PRIMARY RISK
Truist's revenue growth of 4.1% significantly lags peers, suggesting it is losing market share. This pressure is compressing loan spreads and forcing a reliance on the balance sheet for buybacks.
- Trailing-twelve-month revenue growth of 4.1% lags PNC's 11.1%.
- 2026 net interest income growth guidance was cut to 1%-1.5%.
- Net debt increased to $25.9 billion from $15.2 billion a year earlier.
- Management cited 'market-driven compression of loan spreads' as a headwind.
| KPI | Status | Rationale |
|---|---|---|
| Average Loan Growth | 0.7% linked-quarter growth for average loans held for investment in Q2 2026 - Decelerating | The slowdown is partly a deliberate strategy. Management is de-emphasizing certain consumer loan categories, such as discontinuing marine and recreational vehicle loans and reducing auto originations, to reallocate capital to higher-return commercial loans and improve profitability. |
| Average Deposit Growth | 1.5% linked-quarter growth in average deposits in Q2 2026 - Accelerating | The sequential acceleration is a positive signal, supported by a 39% year-over-year increase in new-to-bank deposit production. However, management notes pressure from "elevated rate-seeking behavior and migration into higher rate products," which is impacting deposit costs. |
| Return on Tangible Common Equity (ROTCE) | 15.4% (Q2 2026) | Market rewards The company is targeting ROTCE of greater than 14% for the full year 2026.. Measures the company's profitability relative to its tangible equity, a key metric for assessing capital efficiency and shareholder returns. |
| Active Mobile Users | 5.4 million (Q2 2026) | Indicates the level of client engagement with the company's digital banking platform, which is a key growth engine and driver of efficiency. |
| Positive Operating Leverage | 320 basis points (3.2%) (Q2 2026 (YoY)) | Measures the extent to which revenue growth outpaces expense growth, indicating improving profitability and efficiency. |
Profitability Pivot vs. Lagging Growth
BULL VIEW
Bulls believe the strategic pruning of low-return loans is creating a more profitable bank, evidenced by the 15.4% ROTCE and strong operating leverage, which will drive future earnings.
CORE TENSION
Can a rising ROTCE of 15.4% offset lagging revenue growth of 4.1%, which the market punished with a -4.0% post-earnings stock decline?
PREVAILING SENTIMENT
The latest evidence favors the bulls. Management raised its full-year ROTCE target to over 14% and its buyback target, showing confidence in the pivot's financial power.
BEAR VIEW
Bears see the 4.1% TTM revenue growth, far below peers, as a sign of competitive weakness, arguing the profitability gains are temporary and unsustainable against market share losses.
| Timeline | Event & Metric To Watch |
|---|---|
10/13/2026 | Negative Read-Across From Peers Watch: Peer commentary on deposit costs, loan spreads, and commercial loan demand. Strong results from JPM, WFC, or BAC. |
10/14/2026 | Bank of America Earnings Watch: Peer Bank of America (BAC) is scheduled to report earnings. |
10/15/2026 | U.S. Bancorp Earnings Report Watch: Peer U.S. Bancorp (USB) is scheduled to report earnings. |
10/16/2026 | Further Net Interest Income Disappointment Watch: Any further reduction in NII or full-year revenue guidance, or a net interest margin below Q2's 2.98%. |
No set date | Unsustainable Capital Return Pace Watch: A reduction in the share buyback target, an increase in debt issuance, or a decline in the CET1 ratio below management's comfort level. |
| Date | Event | Stock Impact |
|---|---|---|
2026-09-09 | AI Initiatives Deployed Details: In September, the company announced it had delivered over 2 billion AI-powered insights to clients and fully deployed AI Call Summaries, saving over 36,000 hours in Q2 2026. | -0.4% $50.55 -> $50.33 |
2026-07-27 | New Investment Banking Leadership Details: On July 27, 2026, Truist Securities announced the appointment of a new Co-Head of Technology, Media, and Telecom (TMT) Investment Banking to lead the industry coverage team. | +2.4% $51.25 -> $52.47 |
2026-07-17 | Negative Q2 Earnings Reaction Details: Following its July 17, 2026 earnings report, the stock had a two-day reaction of -4.0%. Management lowered its full-year 2026 revenue growth outlook to 3.5%-4%. | -4.2% $52.73 -> $50.50 |
2026-04-17 | Positive Q1 Earnings Reaction Details: The company reported first quarter 2026 results on April 17, 2026. The stock had a positive two-day reaction of 3.0% versus 1.0% for the S&P 500. | +2.9% $48.43 -> $49.81 |
Major Institutional Stake Acquired Details: Press reports in August indicated BlackRock Inc. acquired a new stake of 99,555,076 shares in the second quarter, valued at approximately $4,959,834,000. | - | |
Senior Notes Redemptions Announced Details: | - |
Position Sizing
5% - 7%
NORMAL POSITION
Sizing is volatility-based: TFC trades at roughly 23% annualized options-implied volatility versus about 13% for the S&P 500 (1.7x the market), around the 29th percentile of its own trailing year. A 5% - 7% position keeps a single-name swing of that size within a diversified portfolio's risk budget.
Diversification Alternatives
PNC - PNC Financial Services
Higher-Growth Regional PeerPNC offers exposure to a similar regional banking model but with superior execution, demonstrated by its 11.1% trailing-twelve-month revenue growth compared to Truist's 4.1%.
JPM - JPMorgan Chase
Scale and DiversificationJPMorgan Chase provides exposure to the financial sector with immense scale, as its revenue is over 9 times that of Truist, and a more diversified business mix including dominant capital markets operations.
A large regional bank in a profitability-focused pivot, trading near-term revenue growth for higher long-term capital efficiency and returns.
Truist is actively optimizing its balance sheet by exiting or reducing less strategic, lower-return consumer loan categories and reallocating capital to relationship-driven commercial lending and high-value segments like Premier Banking. This strategy is causing near-term headwinds to net interest income but is already improving profitability, as seen in the 310 basis point year-over-year improvement in ROTCE. The core thesis is whether this disciplined capital allocation can create a more profitable and capital-efficient growth company over the medium term.
Sustained improvement in ROTCE, continued positive operating leverage, and evidence of market share gains in targeted growth areas like middle-market commercial banking and wealth management.
A significant increase in credit losses that outweighs the benefits of portfolio optimization, a failure to control expenses, or an inability to grow deposits without further compressing net interest margin.
Short-term fluctuations in quarterly loan growth metrics, especially in consumer categories being de-emphasized, as these are part of the stated strategy.
Repricing Catalyst
Management's execution on its balance sheet optimization and capital return program. The market is watching for sustained improvement in ROTCE and the company's ability to hit its revised, lower revenue guidance while still achieving its profitability targets.
Wholesale Banking (WB)
$12.1B TTM (59% of Total)What It Is
Provides credit solutions, commercial payments, strategic advisory services, debt and equity capital markets access, leveraged finance, securitizations, asset management, trust, and brokerage services to commercial, corporate, institutional, and wealth clients.
Who Pays & How
Commercial, corporate, and institutional clients pay for core banking needs, specialized credit, and investment banking capabilities to fund operations and strategic initiatives. Wealth clients pay for asset management, trust, and investment advisory services.
Competition
Consumer and Small Business Banking (CSBB)
$8.5B TTM (41% of Total)What It Is
Serves retail, premier, and small business clients with checking, savings, and other deposit products, payment services, credit cards, personal loans, residential mortgages, home equity loans, and indirect auto lending.
Who Pays & How
Individual consumers and small businesses pay for deposit accounts, payment services, and a variety of lending products to manage their day-to-day finances, make purchases, and finance major assets like homes and vehicles.
Competition
Other, Treasury and Corporate (OT&C)
$10M TTM (0% of Total)What It Is
This segment includes management of the company's investment securities portfolio, long-term debt, derivative instruments for balance sheet hedging, short-term liquidity and funding activities, and corporate functional activities. It also houses intersegment eliminations.
Who Pays & How
This is primarily a corporate support and balance sheet management function, not a client-facing revenue generator. Its results reflect the net effect of funds transfer pricing, hedging activities, and unallocated corporate expenses.
Competition
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Diversified Banks Resources |
| Retail Banker International |
| International Banker |
| Global Finance Magazine |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.