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 has raised its price target for Cintas (NASDAQ:CTAS) to $230 from $225, reiterating a "buy" rating and indicating a potential upside of 16.67%. This positive outlook follows Cintas exceeding Q1 earnings and revenue estimates, reporting $1.39 EPS and $3.01 billion in revenue, with a 10.9% year-over-year revenue increase. The company also issued strong fiscal 2027 EPS guidance and increased its dividend, reinforcing analyst confidence despite an elevated P/E ratio.
Huntington National Bank and JPMorgan Chase have shown significant growth in Triad deposits, despite Truist remaining the top-ranked bank. While Truist added nearly $500 million, these two newcomers recorded the largest gains in the region's banking market. The article highlights their emerging presence amidst broader expansion efforts by other banks in the Triad area.
JPMorgan has revised its price target for Norwegian Cruise Line Holdings Ltd. (NCLH) downwards to $13 from the previous $17, while maintaining a Neutral rating on the stock. This adjustment reflects an updated outlook from the financial institution regarding the cruise operator's valuation. The article also provides recent news and stock performance data for NCLH.
Truist Financial has cut its price target for American Express (NYSE:AXP) to $370.00 from $375.00 but maintained a "buy" rating, indicating a potential upside of 22.1% from the current stock price. Despite the reduction, analyst sentiment remains largely positive, with a consensus "Moderate Buy" rating and an average target price of $373.05. The company recently reported strong quarterly earnings, exceeding EPS estimates with revenue growth of 10% year-over-year.
State Street Corp increased its stake in Truist Financial Corporation by 0.9% in the second quarter, adding over 500,000 shares, bringing its total holding to 4.8% valued at $2.92 billion. Truist Financial reported strong quarterly earnings, beating analyst estimates, and maintains a quarterly dividend of $0.52. Despite some insider selling, analysts generally rate the stock as "Hold" with an average price target of $55.12.
This page provides an overview of Truist Financial Corporation (TFC) stock, including its current price, recent news, and historical performance. It highlights that TFC's stock is trading at $48.47, with recent news covering its lending strategy reshape and the rollout of AI call summaries. The performance overview shows TFC's trailing total returns against the S&P 500 benchmark.
Truist Bank, the retail banking arm of Truist Financial Corp., plans to close its Tempe, Arizona facility and lay off 120 employees. The layoffs, impacting workers in its near-prime auto loan subsidiary Regional Acceptance Corp., will occur in phases from November 30 through February 28, 2027, coinciding with the permanent closure of the facility. This decision was communicated to the Arizona Department of Economic Security in accordance with the WARN Act.
Atlanticus Holdings Corp. has completed the sale of its CAR Auto Finance operations to an unaffiliated third party for approximately $71.2 million, marking its exit from the auto finance segment. The transaction, comprising $56.2 million in cash and a $15.0 million seller note, will allow Atlanticus to reduce debt and invest in higher-growth product lines. Approximately 154 CAR team members will transition to the buyer as part of the deal.
An East Coast financial services company, identified as Truist Financial, is closing a facility in Tempe, Arizona, and laying off dozens of workers. This decision stems from the company's sale of its near-prime auto loan business. The layoffs are expected to occur in late 2026 and early 2027.