The company has released its first-quarter earnings, unveiling revenue of $4.95 billion, slightly surpassing market expectations of $4.94 billion. Demonstrating a solid start to the fiscal year, the firm remains committed to its strategic goals despite ongoing market fluctuations.
The company's Common Equity Tier 1 (CET1) capital ratio was logged at a robust 11.3%, highlighting its strong financial footing. This capital strength supports the ongoing expansion efforts for its clientele while maintaining stringent risk controls.
Both average loans and deposits have seen a positive trajectory as the year begins, showcasing the institution's effective financial strategies and operational efficiency. Furthermore, the company's focus on managing expenses has continued to yield beneficial results, with asset-quality metrics stable and capital ratios remaining strong.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Truist Financial Corp (TFC, Financial) is $48.43 with a high estimate of $53.00 and a low estimate of $43.00. The average target implies an upside of 34.54% from the current price of $36.00. More detailed estimate data can be found on the Truist Financial Corp (TFC) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Truist Financial Corp's (TFC, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Truist Financial Corp (TFC, Financial) in one year is $43.20, suggesting a upside of 20% from the current price of $36. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Truist Financial Corp (TFC) Summary page.
