Summary of Truist Financial Corporation Conference Call Company Overview - **Company**: Truist Financial Corporation - **Participants**: Mike Maguire (CFO) Key Points Management Changes - Beau's contributions over 20 years were acknowledged as he steps down, with Mike Maguire and others taking on his responsibilities [2][3] - Focus on aligning wholesale payments with enterprise payments to enhance market strategy [3][4] Industry Positioning - Increased optimism in the banking industry noted, with Truist positioned to capitalize on this momentum [5] - Strong capital position allows for elevated shareholder returns and growth across various business lines [6][8] Loan Growth Expectations - Anticipation of loan growth across most sectors, with caution in commercial real estate due to current market conditions [9][10] - Specialty lending businesses in consumer sectors are performing well, indicating a positive outlook for growth [11][14] Deposit and Interest Income Outlook - Stable deposit environment compared to previous year, with expectations for deposit growth aligned with loan growth [16][17] - Net interest income (NII) outlook is contingent on the interest rate curve, with a productive curve expected [19][20] Investment Portfolio Management - Increased investment portfolio size from approximately $115 billion to $125 billion, with future growth expected to be more measured [22][23] - Focus on managing risks associated with interest rate fluctuations through swaps [24] Fee Income Growth - Investment banking and trading have shown consistent growth, with a focus on expanding market share and improving profitability [25][26] - Emphasis on enhancing treasury and wholesale payments as a key area for growth [28][30] Expense Management - Commitment to limiting expense growth to 1.5% in 2025 while investing in growth initiatives [36][40] - Ongoing efficiency initiatives from late 2023 are expected to yield benefits into 2025 [37] Asset Quality and Risks - Commercial real estate exposure is manageable, with proactive measures in place to mitigate risks [42][44] - Monitoring of economic factors such as tariffs and tax cuts is ongoing, with no significant updates on asset quality [45] Capital Management - Strong capital position allows for continued stock buybacks and growth investments [46][48] - Prioritization of growth, dividends, and buybacks in capital deployment strategy [51][52] Market Opportunities - Identified growth opportunities in existing markets like Texas, Pennsylvania, and New Jersey, focusing on increasing market share [56] - Mid-teens return on tangible common equity (ROTCE) target set, with ongoing initiatives to achieve this goal [57][58] Conclusion - Truist is positioned for growth with a clear focus on execution, capital management, and enhancing profitability through strategic initiatives [67][68]

Core Viewpoint - Truist Financial Corporation (TFC) and Northern Trust Corporation (NTRS) are both considered by investors, but TFC is identified as the superior value option based on current valuation metrics [1][6]. Valuation Metrics - TFC has a forward P/E ratio of 11.97, while NTRS has a forward P/E of 13.84 [5]. - TFC's PEG ratio is 1.67, compared to NTRS's PEG ratio of 1.74, indicating TFC may offer better value relative to its expected earnings growth [5]. - TFC's P/B ratio is 1.10, whereas NTRS has a P/B ratio of 1.89, further supporting TFC's stronger valuation position [6]. - TFC has a Value grade of B, while NTRS has a Value grade of C, reflecting TFC's more favorable valuation metrics [6]. Earnings Outlook - Both TFC and NTRS have a Zacks Rank of 2 (Buy), indicating an improving earnings outlook due to positive analyst estimate revisions [3].

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CHARLOTTE, N.C., Feb. 3, 2025 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced that Chief Wholesale Banking Officer Kristin Lesher will speak at the BofA Securities Financial Services Conference on Wednesday, Feb. 12, 2025, at 11:20 a.m. ET. A live audio webcast will be available on the day of the conference at ir.truist.com under Events & Presentations. A replay of the webcast will be available on the website for 30 days. About TruistTruist Financial Corporation is a purpose-driven ...

CHARLOTTE, N.C., Jan. 31, 2025 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced that Chief Financial Officer Mike Maguire will speak at the UBS Financial Services Conference on Tuesday, Feb. 11, 2025, at 1:00 p.m. ET. A live audio webcast will be available on the day of the conference at ir.truist.com under Events & Presentations. A replay of the webcast will be available on the website for 30 days. About TruistTruist Financial Corporation is a purpose-driven financial services compa ...

Core Insights - Sheffield Financial has formed a national partnership with Scarab to provide competitive financing options for Scarab's high-performance jet-powered boats [1][3] - The collaboration aims to enhance the boat buying experience by leveraging Sheffield's 32 years of consumer financing expertise and Scarab's extensive dealer network [2][3] Company Overview - Sheffield Financial, a division of Truist Bank, specializes in fast and flexible retail financing across various industries, including marine and powersports, and has financed millions of customers in the USA [4] - Truist Financial Corporation is a leading U.S. commercial bank with total assets of $531 billion as of December 31, 2024, offering a wide range of financial services [5] Product and Service Features - The partnership will utilize Sheffield's advanced prequalification technology, allowing customers to check financing eligibility without affecting their credit score, thus streamlining the purchasing process [2][3] - Scarab boats, powered by Rotax® engines, are designed for performance and recreational activities, featuring models ranging from 16 to 28 feet [6]

Shares of Truist Financial Corporation (NYSE: TFC ) surged 6% on Friday after the financial institution reported better-than-expected results for its fourth fiscal quarter, mainly due to higher investment banking and trading-related fees. Truist Financial saw an improving credit trend in theI look for high-risk, high-reward situations, mainly in the technology markets. I am an early buyer of Bitcoin and my portfolio mainly focused on companies with asymmetric long-term upside. My top holdings include: Bitco ...

Earnings Call Overview - Truist Financial Corporation held its Q4 2024 earnings conference call on January 17, 2025, at 8:00 AM ET [1] - The call included participation from Chairman and CEO Bill Rogers, CFO Mike Maguire, and Chief Risk Officer Brad Bender, along with other senior management members [4] - The discussion focused on Q4 2024 results, current business conditions, and the 2025 outlook [4] Presentation Details - The presentation included forward-looking statements and non-GAAP financial measures, with disclosures available on Slides 2 and 3 of the accompanying presentation [5] - Supplemental financial information and the earnings release were accessible on the Truist Investor Relations website [4] Participants - Key participants included Brad Milsaps (IR), Bill Rogers (Chairman and CEO), Mike Maguire (CFO), and Brad Bender (Chief Risk Officer) [4] - Analysts from major financial institutions such as Piper Sandler, Bank of America, Deutsche Bank, UBS, Morgan Stanley, Evercore, HSBC, Wells Fargo, and RBC were present [1]

Truist Financial Corporation (NYSE:TFC) Q4 2024 Earnings Conference Call January 17, 2025 8:00 AM ET Company Participants Brad Milsaps - IR Bill Rogers - Chairman and CEO Mike Maguire - CFO Conference Call Participants Scott Siefers - Piper Sandler Ebrahim Poonawala - Bank of America Matt O'Connor - Deutsche Bank Erika Najarian - UBS Betsy Graseck - Morgan Stanley John Pancari - Evercore Saul Martinez - HSBC Mike Mayo - Wells Fargo Gerard Cassidy - RBC Operator Greetings, ladies and gentlemen, and welcome t ...

Earnings Performance - Truist Financial's Q4 2024 adjusted earnings per share of $0.91 surpassed the Zacks Consensus Estimate of $0.87, marking a 12.3% YoY increase [1] - Adjusted earnings for 2024 were $3.69 per share, beating the Zacks Consensus Estimate by $0.01 [3] - Net income available to common shareholders (GAAP basis) was $1.22 billion in Q4 2024, compared to a loss of $5.17 billion in the prior-year quarter [3] - Full-year 2024 net income available to common shareholders (GAAP basis) was $4.47 billion, a significant improvement from a net loss of $1.45 billion in the previous year [3] Revenue and Expenses - Q4 2024 total revenues of $5.06 billion grew 3.6% YoY, beating the Zacks Consensus Estimate of $5 billion [4] - Full-year 2024 revenues were $13.28 billion, down 33.7% YoY and lagging the Zacks Consensus Estimate of $19.87 billion [4] - Tax-equivalent net interest income (NII) increased 1.8% to $3.64 billion in Q4 2024, driven by balance sheet repositioning [4] - Non-interest income rose 7.9% to $1.47 billion in Q4 2024, driven by higher investment banking, trading income, mortgage banking income, and service charges [5] - Non-interest expenses were $3.04 billion in Q4 2024, down 68.2% YoY, but adjusted non-interest expenses rose 7.6% to $3.03 billion [6] Credit Quality and Provisions - Net charge-offs were 0.59% of average loans and leases in Q4 2024, up 2 bps YoY [8] - The allowance for loan and lease losses was 1.59% of total loans and leases held for investment, increasing 5 bps YoY [8] - Provision for credit losses was $471 million in Q4 2024, down 17.7% from the prior-year quarter [8] - Total non-performing assets (NPAs) were $1.48 billion as of Dec 31, 2024, down marginally [9] Profitability and Capital Ratios - Return on average common equity improved to 8.4% in Q4 2024, compared to a negative 36.6% in Q4 2023 [10] - Tier 1 risk-based capital ratio was 12.9% as of Dec 31, 2024, up from 11.6% in the prior-year quarter [10] - Common equity Tier 1 ratio was 11.5% as of Dec 31, 2024, up from 10.1% as of Dec 31, 2023 [10] Share Repurchases - Truist Financial repurchased shares worth $500 million during Q4 2024 [11] Peer Performance - Wells Fargo reported Q4 2024 adjusted earnings per share of $1.42, surpassing the Zacks Consensus Estimate of $1.34 and up from $1.29 in the prior-year quarter [13] - JPMorgan's Q4 2024 earnings per share were $4.81, significantly surpassing the Zacks Consensus Estimate of $4.03 [14]