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Truist Financial Corp TFC

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Morningstar’s Analysis

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U.S. Banks' Q4 Earnings Outlook: Positive Momentum Likely to Continue, Anticipate FVE Raises

Eric Compton, CFA Senior Equity Analyst

Analyst Note

| Eric Compton, CFA |

Positive momentum is likely to continue for U.S. banks during fourth-quarter earnings announcements. Almost everything seems to be going the banks’ way: The yield curve is steepening, expectations for multiple interest-rate hikes in 2022 have solidified, initial fourth-quarter investment banking numbers appear to be strong, fourth-quarter loan growth numbers are likely to be solid, credit losses are likely to remain cyclically low, and omicron seems unlikely to throw the economy back into a tailspin. We will also be updating our tax rate assumptions, as we no longer anticipate a corporate tax hike (see our Dec. 23, 2021, note).

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Company Profile

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.

Contact
214 North Tryon Street
Charlotte, NC, 28202
T +1 336 733-2000
Sector Financial Services
Industry Banks - Regional
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type High Yield
Employees 54,982

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