Analyst Consensus ?
ConsensusHold53 ratings
Bullish2649.0%
Neutral2445.3%
Bearish35.7%
Truist Financial Corporation · TFC · FY2026 Q3 · Calendar Q4 2026
Truist sharpens focus as balance-sheet repositioning continues
Truist’s Q3 update supports a cautiously constructive operating picture: deposit growth, wealth management momentum, and expense discipline are positive, while balance-sheet exits and new investment create execution and earnings-mix risks.
Reported Before market openNYSEFinancial Services
$56.89B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.14
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $5.36B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.2%
Event window
SPY move
-0.5%
Same window
Abnormal move
+1.8%
Stock minus SPY
Volume
0.6×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
TFCSPY benchmark
Ask FN2 about TFC FY2026 Q3
Transcript, numbers and history already loaded
What drove TFC's +1.2% move after FY2026 Q3 earnings?What changed in TFC's guidance and outlook in FY2026 Q3?Give me the bull and bear case for TFC after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Truist completed the sale of its $5.5 billion RAC auto loan portfolio, announced an expected Q4 sale of its approximately $7.7 billion LightStream portfolio, and repositioned available-for-sale securities toward shorter-duration U.S. Treasuries. Management also increased its investment agenda while narrowing the business toward core relationship-based activities.
Guidance delta
Management maintained its broad outlook, with modest revenue growth and continued expense discipline; it also set a medium-term ROTCE target of 16–18%.
Key takeaways
- Adjusted EPS grew 12% year over year, supported by deposit growth, wealth management, and expense discipline.
- The completed RAC sale and planned LightStream sale are reshaping the balance sheet and adding capital.
- Management is increasing investment in branches, digital and AI capabilities, treasury management, and commercial and wealth teams.
Management priorities
- Focus on core relationship businesses while exiting non-core lines.
- Complete the LightStream sale and consider further available-for-sale securities repositioning.
- Invest in branches, technology, treasury management, and sales capacity.
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Beat
Miss
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Analyst 52W Price Targets
$47.3Current
$36Low
$56.43Average
$136High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 16, 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 |
|---|---|---|---|---|
| UBS | Neutral | Neutral | Maintain | Oct 5, 2026 |
| JP Morgan | Underweight | Underweight | Maintain | Oct 2, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Oct 1, 2026 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jul 21, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Jul 20, 2026 |
| Baird | Neutral | Neutral | Maintain | Jul 20, 2026 |
| B of A Securities | Neutral | Buy | Downgrade | Jul 8, 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 $47.3. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | Analyst unavailable | $52 | $45.58 | +9.9% | Oct 8, 2026 |
| UBS | Erika Najarian | $50 | $46.45 | +5.7% | Oct 5, 2026 |
| Stephens | Analyst unavailable | $57 | $51 | +20.5% | Jul 21, 2026 |
| Robert W. Baird | Analyst unavailable | $56 | $52.5 | +18.4% | Jul 20, 2026 |
| Evercore ISI | John Pancari | $57 | $51.1 | +20.5% | Jul 6, 2026 |
| Truist Financial | Benjamin Gerlinger | $54 | $50.58 | +14.2% | Jun 30, 2026 |
| Truist Financial | Analyst unavailable | $59 | $49.78 | +24.7% | Jun 15, 2026 |
| Morgan Stanley | Analyst unavailable | $62 | $51.02 | +31.1% | Apr 20, 2026 |
| RBC Capital | Analyst unavailable | $53 | $50.91 | +12.1% | Apr 20, 2026 |
| Jefferies | Analyst unavailable | $45 | $50.56 | -4.9% | Apr 17, 2026 |
| Truist Financial | Analyst unavailable | $69 | $51.9 | +45.9% | Feb 17, 2026 |
| Evercore ISI | Analyst unavailable | $64 | $55.03 | +35.3% | Feb 5, 2026 |
| Argus Research | Analyst unavailable | $58 | $50.58 | +22.6% | Jan 23, 2026 |
| Piper Sandler | Analyst unavailable | $53 | $50.02 | +12.1% | Jan 22, 2026 |
| Truist Financial | Analyst unavailable | $50 | $50.51 | +5.7% | Jan 7, 2026 |
| Raymond James | Analyst unavailable | $56 | $51.18 | +18.4% | Jan 7, 2026 |
| Truist Financial | John Pancari | $58 | $50.4 | +22.6% | Jan 6, 2026 |
| Goldman Sachs | Analyst unavailable | $58 | $50.42 | +22.6% | Jan 6, 2026 |
| Truist Financial | Jason Goldberg | $56 | $49.74 | +18.4% | Jan 5, 2026 |
| UBS | Analyst unavailable | $55 | $43.45 | +16.3% | Oct 21, 2025 |
| Piper Sandler | Analyst unavailable | $48 | $42.6 | +1.5% | Oct 20, 2025 |
| Morgan Stanley | Analyst unavailable | $55 | $42.6 | +16.3% | Oct 20, 2025 |
| Evercore ISI | Analyst unavailable | $50 | $45.92 | +5.7% | Sep 30, 2025 |
| Morgan Stanley | Analyst unavailable | $54 | $46.02 | +14.2% | Sep 29, 2025 |
| Argus Research | Analyst unavailable | $43 | $35.31 | -9.1% | Apr 21, 2025 |
| Truist Financial | Analyst unavailable | $52 | $43.11 | +9.9% | Mar 5, 2025 |
| RBC Capital | Gerard Cassidy | $46 | $42.95 | -2.7% | Oct 18, 2024 |
| Stephens | Terry McEvoy | $50 | $41.63 | +5.7% | Sep 10, 2024 |
| Piper Sandler | Scott Siefers | $43 | $44.22 | -9.1% | Sep 3, 2024 |
| Argus Research | Stephen Biggar | $51 | $43.78 | +7.8% | Jul 23, 2024 |
| Wolfe Research | Bill Carcache | $45 | $43.78 | -4.9% | Jul 22, 2024 |
| Evercore ISI | John Pancari | $48 | $43.78 | +1.5% | Jul 22, 2024 |
| Truist Financial | David George | $45 | $42.44 | -4.9% | Jul 17, 2024 |
| Stephens | Terry McEvoy | $47 | $40.18 | -0.6% | May 16, 2024 |
| Barclays | Jason Goldberg | $43 | $40.18 | -9.1% | May 16, 2024 |
| Piper Sandler | Scott Siefers | $41 | $39.48 | -13.3% | May 14, 2024 |
| Truist Financial | David Rochester | $42 | $38.96 | -11.2% | Apr 23, 2024 |
| Truist Financial | Ebrahim Poonawala | $43 | $37.16 | -9.1% | Jan 4, 2024 |
| Truist Financial | David Konrad | $36 | $28.37 | -23.9% | Sep 20, 2023 |
| Truist Financial | Terry McEvoy | $53 | $49.39 | +12.1% | Jan 31, 2023 |
| Goldman Sachs | Analyst unavailable | $51 | $44.08 | +7.8% | Sep 30, 2022 |
| Truist Financial | Youssef Squali Squali | $136 | $43.97 | +187.5% | Sep 30, 2022 |
| Truist Financial | Stephen Scouten | $55 | $43.04 | +16.3% | Sep 28, 2022 |
| Deutsche Bank | Analyst unavailable | $61 | $49.33 | +29.0% | Sep 12, 2022 |
| Morgan Stanley | Analyst unavailable | $56 | $47.4 | +18.4% | Jul 12, 2022 |
| Goldman Sachs | Analyst unavailable | $57 | $49.13 | +20.5% | May 31, 2022 |
| Evercore ISI | John Pancari | $74 | $64.11 | +56.4% | Jan 19, 2022 |
| Piper Sandler | Stephen Scouten | $72 | $66.68 | +52.2% | Jan 18, 2022 |
| Barclays | Jason Goldberg | $72 | $59.96 | +52.2% | Jan 3, 2022 |
| Wells Fargo | Mike Mayo | $76 | $59.17 | +60.7% | Oct 4, 2021 |
| Citigroup | Keith Horowitz | $72 | $59.34 | +52.2% | Oct 1, 2021 |
| KBW | David Konrad | $49 | $53.18 | +3.6% | Jul 6, 2021 |
| Compass Point | Dave Rochester | $67 | $59.8 | +41.6% | May 18, 2021 |
Track every rating change on TFC the moment it posts. Free to start.
Start freeCompany 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.…
Historical context
All TFC earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| TFC-PI Truist Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | — | — | Truist refocuses on relationship banking while investing for growth |
| TRV The Travelers Companies, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +0.5% | Travelers posts strong Q3 underwriting results as AI investment continues |
| RF Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | — | -0.1% | Regions maintains guidance as fee revenue and capital stay strong |
| CFG Citizens Financial Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | -0.9% | CFG Q3: NIM expansion and private-bank growth support outlook |
| RF-PF Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | — | — | Regions Financial posts solid Q3 as fees and capital support returns |
| CFG-PE Citizens Financial Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | — | Citizens Financial: Record Q3, private bank and fees lead growth |
Latest beats and misses
Who reports nextBeat on EPS
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- USB-PRFY2026 Q3 · October 15, 2026+1.5% EPS— move
- USB-PSFY2026 Q3 · October 15, 2026+1.5% EPS— move
Get the TFC recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-10-16T16:03:29.413564+00:00
- FN2 earnings calendar · 2026-10-16T01:23:22.079841+00:00
- Polygon adjusted daily market bars · 2026-10-16T16:40:44.257093+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-16T16:40:44.254483+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 · As of 2026-10-16. For educational purposes only; not investment advice.