Analyst Consensus ?
ConsensusHold53 ratings
Bullish2649.0%
Neutral2445.3%
Bearish35.7%
Truist Financial Corporation · TFC · FY2026 Q2 · Calendar Q3 2026
Truist Q2 2026: EPS Beat on Fee Strength, ROTCE Hits 15.4%, Guidance Trimmed
Truist delivered a strong Q2 2026 beat with EPS of $1.23 (up 37% year-over-year) and revenue of $5.31B, both ahead of consensus. Fee-based revenue from investment banking, trading, and wealth management was the primary driver, complemented by continued digital engagement growth and Premier Banking deposit gains. ROTCE rose 310 basis points to 15.4%, nearing the long-term 16-18% target. However, management lowered full-year revenue growth guidance to 3.5-4%, citing loan spread compression and deposit cost pressures, while raising the non-interest income growth outlook to approximately 10%. The $5B share buyback program and CET1 ratio of 10.9% underscore continued capital return strength. A CEO transition to Mike Lyons in September adds a leadership variable to monitor.
Reported Before market openNYSEFinancial Services
$66.02B market cap
100quality score
Company context
Snapshot as of publicationTruist Financial Corporation operates as a diversified financial holding company, providing an extensive array of banking and trust services throughout the Southeastern and Mid-Atlantic regions of the United States. Its business activities are structured across three main segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. The corporation offers a broad spectrum of deposit products, including both interest-bearing and noninterest-bearing checking accounts, savings accounts, money market deposit accounts, certificates of deposit (CDs), and individual retirement accounts (IRAs). Beyond deposit services, Truist delivers a comprehensive suite of financial solutions. These include various lending options such as automobile, bankcard, consumer, home equity, mortgage, small business, and student loans, alongside specialized commercial financing for areas like floor plan, real estate, and mortgage warehousing, as well as lease and supply chain financing.…
Earnings scorecard
Reported versus consensus
Reported EPS
$1.23
Consensus $1
EPS surprise
+13.9%
Reported versus consensus
Reported revenue
$5.31B
Consensus $5.24B
Revenue surprise
+1.4%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$52.84Current
$36Low
$56.74Average
$136High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Stephens & Co. | Overweight | Overweight | Maintain | Jul 21, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 21, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Jul 20, 2026 |
| JP Morgan | Underweight | Neutral | Downgrade | Jul 20, 2026 |
| Baird | Neutral | Neutral | Maintain | Jul 20, 2026 |
| B of A Securities | Neutral | Buy | Downgrade | Jul 8, 2026 |
| UBS | Neutral | Buy | Downgrade | Jul 7, 2026 |
| Morgan Stanley | Equal Weight | Overweight | Downgrade | Jul 6, 2026 |
| Raymond James | Market Perform | Outperform | Downgrade | Jul 1, 2026 |
| Citigroup | Neutral | Buy | Downgrade | Jun 30, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Apr 20, 2026 |
| Argus Research | Buy | Buy | Maintain | Jan 23, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jan 22, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Jan 22, 2026 |
| Barclays | Underweight | Equal Weight | Downgrade | Jan 5, 2026 |
| Wells Fargo | Equal Weight | Overweight | Downgrade | Aug 21, 2025 |
| Compass Point | Buy | Buy | Maintain | Dec 10, 2024 |
| Goldman Sachs | Buy | Buy | Maintain | Nov 26, 2024 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Aug 9, 2024 |
| HSBC | Hold | Hold | Maintain | May 8, 2024 |
| Stephens& Co. | Overweight | Overweight | Maintain | Apr 23, 2024 |
| Jefferies | Hold | Hold | Maintain | Apr 8, 2024 |
| Odeon Capital | Buy | Hold | Upgrade | Dec 14, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Jul 20, 2023 |
| Deutsche Bank | Hold | Buy | Downgrade | Jan 6, 2023 |
| CFRA | Buy | Buy | Maintain | Apr 21, 2020 |
| Janney Montgomery Scott | Neutral | Neutral | Maintain | Apr 9, 2020 |
| Janney Capital | Neutral | Neutral | Maintain | Apr 9, 2020 |
| BMO Capital | Outperform | Outperform | Maintain | Feb 11, 2019 |
| Bank of America | Buy | Neutral | Upgrade | Feb 8, 2019 |
| B. Riley FBR | Buy | Buy | Maintain | Jul 20, 2018 |
| Hilliard Lyons | Buy | Neutral | Upgrade | Apr 23, 2018 |
| Edward Jones | Buy | Hold | Upgrade | Apr 11, 2018 |
| Macquarie | Neutral | Underperform | Upgrade | Aug 4, 2017 |
| Keefe Bruyette & Woods | Perform | Market Perform | Maintain | Oct 19, 2016 |
| FBR Capital | Perform | Outperform | Downgrade | Oct 11, 2016 |
| CLSA | Outperform | Outperform | Maintain | Sep 23, 2016 |
| Sandler O'Neill | Hold | Buy | Downgrade | Jun 29, 2016 |
| SunTrust Robinson Humphrey | Outperform | Neutral | Upgrade | May 16, 2016 |
| Fig Partners | Outperform | Market Perform | Upgrade | May 10, 2016 |
| PiperJaffray | Underweight | Neutral | Downgrade | Mar 28, 2016 |
| Guggenheim | Buy | Neutral | Upgrade | May 26, 2015 |
| Susquehanna | Neutral | Neutral | Maintain | May 11, 2015 |
| Argus | Buy | Buy | Maintain | Apr 8, 2015 |
| Miller Tabak | Buy | Hold | Upgrade | Mar 9, 2015 |
| Rafferty | Hold | Buy | Downgrade | Dec 30, 2014 |
| Sterne Agee | Buy | Neutral | Upgrade | Oct 27, 2014 |
| Bernstein | Perform | Market Perform | Maintain | Oct 7, 2014 |
| Wunderlich | Buy | Buy | Maintain | Jan 16, 2014 |
| ISI Group | Neutral | Neutral | Maintain | Oct 7, 2013 |
| Oppenheimer | Outperform | Market Perform | Upgrade | Oct 1, 2013 |
| Evercore Partners | Overweight | Equal Weight | Upgrade | Jun 10, 2013 |
| Drexel Hamilton | Buy | Buy | Maintain | Oct 2, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $52.84. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Stephens | Analyst unavailable | $57 | $51 | +7.9% | Jul 21, 2026 |
| Robert W. Baird | Analyst unavailable | $56 | $52.5 | +6.0% | Jul 20, 2026 |
| Evercore ISI | John Pancari | $57 | $51.1 | +7.9% | Jul 6, 2026 |
| Truist Financial | Benjamin Gerlinger | $54 | $50.58 | +2.2% | Jun 30, 2026 |
| Truist Financial | Analyst unavailable | $59 | $49.78 | +11.7% | Jun 15, 2026 |
| Morgan Stanley | Analyst unavailable | $62 | $51.02 | +17.3% | Apr 20, 2026 |
| RBC Capital | Analyst unavailable | $53 | $50.91 | +0.3% | Apr 20, 2026 |
| Jefferies | Analyst unavailable | $45 | $50.56 | -14.8% | Apr 17, 2026 |
| Truist Financial | Analyst unavailable | $69 | $51.9 | +30.6% | Feb 17, 2026 |
| Evercore ISI | Analyst unavailable | $64 | $55.03 | +21.1% | Feb 5, 2026 |
| Argus Research | Analyst unavailable | $58 | $50.58 | +9.8% | Jan 23, 2026 |
| Piper Sandler | Analyst unavailable | $53 | $50.02 | +0.3% | Jan 22, 2026 |
| Truist Financial | Analyst unavailable | $50 | $50.51 | -5.4% | Jan 7, 2026 |
| Raymond James | Analyst unavailable | $56 | $51.18 | +6.0% | Jan 7, 2026 |
| Truist Financial | John Pancari | $58 | $50.4 | +9.8% | Jan 6, 2026 |
| Goldman Sachs | Analyst unavailable | $58 | $50.42 | +9.8% | Jan 6, 2026 |
| Truist Financial | Jason Goldberg | $56 | $49.74 | +6.0% | Jan 5, 2026 |
| UBS | Analyst unavailable | $55 | $43.45 | +4.1% | Oct 21, 2025 |
| Piper Sandler | Analyst unavailable | $48 | $42.6 | -9.2% | Oct 20, 2025 |
| Morgan Stanley | Analyst unavailable | $55 | $42.6 | +4.1% | Oct 20, 2025 |
| Evercore ISI | Analyst unavailable | $50 | $45.92 | -5.4% | Sep 30, 2025 |
| Morgan Stanley | Analyst unavailable | $54 | $46.02 | +2.2% | Sep 29, 2025 |
| Argus Research | Analyst unavailable | $43 | $35.31 | -18.6% | Apr 21, 2025 |
| Truist Financial | Analyst unavailable | $52 | $43.11 | -1.6% | Mar 5, 2025 |
| RBC Capital | Gerard Cassidy | $46 | $42.95 | -12.9% | Oct 18, 2024 |
| Stephens | Terry McEvoy | $50 | $41.63 | -5.4% | Sep 10, 2024 |
| Piper Sandler | Scott Siefers | $43 | $44.22 | -18.6% | Sep 3, 2024 |
| Argus Research | Stephen Biggar | $51 | $43.78 | -3.5% | Jul 23, 2024 |
| Wolfe Research | Bill Carcache | $45 | $43.78 | -14.8% | Jul 22, 2024 |
| Evercore ISI | John Pancari | $48 | $43.78 | -9.2% | Jul 22, 2024 |
| Truist Financial | David George | $45 | $42.44 | -14.8% | Jul 17, 2024 |
| Stephens | Terry McEvoy | $47 | $40.18 | -11.1% | May 16, 2024 |
| Barclays | Jason Goldberg | $43 | $40.18 | -18.6% | May 16, 2024 |
| Piper Sandler | Scott Siefers | $41 | $39.48 | -22.4% | May 14, 2024 |
| Truist Financial | David Rochester | $42 | $38.96 | -20.5% | Apr 23, 2024 |
| Truist Financial | Ebrahim Poonawala | $43 | $37.16 | -18.6% | Jan 4, 2024 |
| Truist Financial | David Konrad | $36 | $28.37 | -31.9% | Sep 20, 2023 |
| Truist Financial | Terry McEvoy | $53 | $49.39 | +0.3% | Jan 31, 2023 |
| Goldman Sachs | Analyst unavailable | $51 | $44.08 | -3.5% | Sep 30, 2022 |
| Truist Financial | Youssef Squali Squali | $136 | $43.97 | +157.4% | Sep 30, 2022 |
| Truist Financial | Stephen Scouten | $55 | $43.04 | +4.1% | Sep 28, 2022 |
| Deutsche Bank | Analyst unavailable | $61 | $49.33 | +15.4% | Sep 12, 2022 |
| Morgan Stanley | Analyst unavailable | $56 | $47.4 | +6.0% | Jul 12, 2022 |
| Goldman Sachs | Analyst unavailable | $57 | $49.13 | +7.9% | May 31, 2022 |
| Evercore ISI | John Pancari | $74 | $64.11 | +40.0% | Jan 19, 2022 |
| Piper Sandler | Stephen Scouten | $72 | $66.68 | +36.3% | Jan 18, 2022 |
| Barclays | Jason Goldberg | $72 | $59.96 | +36.3% | Jan 3, 2022 |
| Wells Fargo | Mike Mayo | $76 | $59.17 | +43.8% | Oct 4, 2021 |
| Citigroup | Keith Horowitz | $72 | $59.34 | +36.3% | Oct 1, 2021 |
| KBW | David Konrad | $49 | $53.18 | -7.3% | Jul 6, 2021 |
| Compass Point | Dave Rochester | $67 | $59.8 | +26.8% | May 18, 2021 |
Track every rating change on TFC the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
-1.4%
Event window
SPY move
-1.0%
Same window
Abnormal move
-0.4%
Stock minus SPY
Volume
1.5×
Versus trailing sessions
Subsequent drift
+1.0%
Up to 20 sessions
TFCSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
EPS growth accelerated from 25% YoY in Q1 to 37% YoY in Q2. ROTCE improved from 13.8% to 15.4%, moving closer to the 16-18% long-term target range. Guidance sentiment shifted from maintained to lowered: full-year revenue growth was cut to 3.5-4% while non-interest income growth was raised from high-single-digit to approximately 10%. Portfolio rationalization intensified with the discontinuation of marine and RV loan origination and the use of credit-linked notes to improve returns on the prime auto portfolio. A CEO succession was announced: Bill Rogers transitions to Executive Chair and Mike Lyons becomes CEO in September. CET1 improved to 10.9%.
Guidance delta
Full-year revenue growth guidance lowered to 3.5-4%. Non-interest income growth outlook raised to approximately 10% (from high-single-digit in Q1). Net interest income growth outlook of 2-3% from Q1 appears embedded in the reduced revenue range. The $5B share buyback target and full-year ROTCE target above 14% were both maintained.
Key takeaways
- EPS of $1.23 beat estimates by 13.9%, with 37% year-over-year growth
- Revenue of $5.31B exceeded consensus by 1.4%
- ROTCE rose 310bp to 15.4%, approaching the long-term 16-18% target
- Strategic exit from marine, RV, and prime auto lending to refocus on higher-return commercial loans
- $5B share buyback program maintained; CET1 ratio improved to 10.9%
- CEO transition announced: Mike Lyons to become CEO in September, Bill Rogers to Executive Chair
Management priorities
- Complete CEO transition to Mike Lyons in September with leadership continuity
- Continue portfolio optimization shifting toward higher-return commercial lending
- Invest in digital platforms and AI (Truist Insights, Truist Assist) to improve productivity and client experience
- Execute $5B share buyback program for 2026
- Achieve full-year ROTCE above 14%
Related earnings events
Financial ServicesSources
- Earnings call transcript and parsed analysis · 2026-07-17T20:03:55.978954+00:00
- FN2 earnings calendar · 2026-07-29T01:23:15.868211+00:00
- Polygon adjusted daily market bars · 2026-07-29T15:51:09.234426+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-29T15:51:09.231648+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.