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Truist Financial Corp TFC Stock Quote

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Morningstar‘s Stock Analysis TFC

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Is it the right time to buy or sell?

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Lowering Our Fair Value Estimate for Truist to $61 From $64 on Slightly Higher Expense Outlook

Business Strategy and Outlook

| Eric Compton, CFA |

Truist (the combination of BB&T and SunTrust), is set for its next step up in profitability, as merger-related costs are essentially cut in half in 2022 and then fall out completely in 2023. BB&T brought its conservative lending culture and solid community banking operations, along with its unique insurance brokerage capabilities. SunTrust brought its own unique investment banking franchise, Robinson Humphrey, into the merger, along with its digitally focused consumer lending operations, namely its LightStream platform. We think the combination has formed one of the better regionals in the U.S. from a competitive standpoint. Truist boasts some of the best scale among the U.S. regional banks, particularly along the east coast and in the southeast. The bank also has a uniquely complete platform across retail, commercial, advisory, wealth, and insurance.

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Key Statistics TFC

Company Profile TFC

Business Description

Based in Charlotte, North Carolina, Truist is the combination of BB&T and SunTrust. Truist is a regional bank with a presence primarily in the Southeastern United States. In addition to commercial banking, retail banking, and investment banking operations, the company operates several nonbank segments, the primary one being its insurance brokerage business.

214 North Tryon Street
Charlotte, NC, 28202
T +1 336 733-2000
Industry Banks - Regional
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 52,641

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