Truist Financial Stock Rises Despite Declining Profit

Key Takeaways Truist Financial (TFC) on Monday posted second-quarter profit that fell by a third from last year, but its stock rose as adjusted earnings per share (EPS) beat analysts' expectations. The net income drop is partially attributable to the sale of a securities portfolio that resulted in $5.1 billion in after-tax losses, along with an after-tax donation of$115 million to the Truist Foundation. However, adjusted EPS came in at $0.91, topping analysts' expectation of$0.85. "While loan demand does ...