Truist's Q4 Earnings: A 20% Jump Predicted

Truist Financial Corporation, a prominent US financial services firm, is set to release its fourth-quarter earnings. The company, formed in 2019 from the merger of BB&T and SunTrust, is expected to report a significant increase in profits, with an estimated $1.09 per share, a nearly 20% jump from last year. Truist has a strong track record, beating earnings predictions in three of the last four quarters. The outlook for the current fiscal year is positive, with projected profits of $3.94 per share, a 7% increase from the previous year. The companys stock has also performed well, rising over 15% in the past year, outpacing the S&P 500 and Financial Select Sector SPDR Fund. Recently, Truist shares surged after the bank cut its prime lending rate, indicating a more favorable lending environment.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.