Truist Financial Corp (TFC) is a banking corporation in the United States formed by the merger of BB&T Corp and SunTrust Banks Inc. In December 2019, the retailers completed the merger and unveiled Truist as the new name for the combined company, making it the sixth-largest bank in the US in terms of assets and deposits.
Truist Financial Corp presents a significant force in the banking industry. It provides a broad range of retail, commercial and corporate banking services, asset management, mortgage, and insurance products and services. With an aim to inspire and build better lives and communities, Truist operates around 2,049 branches across 15 south-eastern states, including Washington, D.C.
With its extensive portfolio, Truist caters to a diverse clientele, servicing large corporations, governments, as well as consumers. Its prominence in the sector is reflected in its assets, with the corporation boasting nearly $509 billion in total assets as of end 2020.
Charitable giving and community service are core to Truist's corporate culture. The corporation instills this ethos through the Truist Foundation and Truist Charitable Fund which aim to support non-profit organizations within their communities.
Amidst significant changes in the financial services landscape, Truist has carried forth a legacy of both parent companies, BB&T and SunTrust, marked by leadership, innovation, and success. With a history that spans over a century, the times have seen the bank evolve, whether it's responding to changing industry trends or overcoming economic downturns. Throughout its history, Truist has consistently prioritized a high standard of client service and a commitment to community engagement.
Moving forward, the organization is manifesting a vision characterized by high-tech, high-touch, and high-quality services. Given the increased digitization of banking, Truist is investing in state-of-the-art technology to refine the banking experience, making it easier, more personal, and more efficient for its clients.
In summary, Truist Financial Corporation is a prominent player in the US banking landscape, ticking all the boxes of a strong, reliable, and modern financial institution. By perpetuating its commitment to foster the financial growth of individuals and businesses, paired with a clear dedication to community service, Truist represents a significant and intentional merger, promising a new era of banking, resulting in shared success for all.
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Truist Financial raised its price target for Rexford Industrial Realty (NYSE:REXR) from $39 to $42, maintaining a "buy" rating with a potential upside of 9.54%. Despite missing EPS estimates at $0.07, Rexford exceeded revenue expectations, reporting $239.1 million. Analyst sentiment is mixed, with seven "buy," five "hold," and three "sell" ratings, resulting in a consensus "Hold" rating and an average price target of $41.33.
Truist Financial has lowered its price target for Alpine Income Property Trust (NYSE:PINE) to $17.00 from $19.00, while maintaining a "hold" rating. Despite this, the consensus among analysts remains a "buy" with an average price target of $20.50. Alpine Income Property Trust shares fell 0.9% to $16.77, even after the company slightly beat quarterly earnings expectations.
Truist Financial has lowered its price target for Equity Lifestyle Properties (ELS) from $64 to $63, while maintaining a "hold" rating, suggesting a 4.35% upside. Despite the revenue of $409.9 million beating expectations, adjusted earnings per share of $0.45 missed the consensus estimate of $0.79. Analyst sentiment for ELS remains mixed, with a consensus "hold" rating and an average price target of $67.02.
This roundup details significant activities in the wealth management sector, including CAPTRUST's acquisition of Pacific Sage Partners and South Atlantic Bank's agreement to acquire Eastover Capital Management. LPL Financial expects high Commonwealth retention and recruited Anchor Financial Partners, while Stribling~Whalen launched an independent RIA. The article also covers key recruiting efforts by Raymond James and RBC, as well as executive appointments at Dynasty Financial Partners, Mercer Advisors, and Bluerock, alongside research insights from ECHELON Partners, Cerulli, and AssetMark.