$TFC

Stephens reduced its Truist Financial (TFC) price target to $54 from $55, citing Q3 earnings of $1.16 EPS, which beat estimates. The stock trades at $46.32 with a P/E of 12.0. CEO Mike Lyons aims for 15% ROTCE in 2027 and 16%-18% long-term. Q3 revenue missed forecasts at $3.75B vs. $5.35B expected, but ROTCE improved to 14.6%.

Citigroup lowered its price target for Truist Financial from $54 to $50. Truist Financial is also expanding its collaboration with Infosys to build a global capability center in India. Truist Financial's stock is currently trading at $46.32, down 1.59% over 5 days and 0.69% over a year.

Truist Bank's online lender LightStream has stopped accepting new loan applications. Truist announced the sale of $7.7 billion in LightStream loans to Carlyle Group, aiming to exit a non-core business. LightStream focused on unsecured personal loans for borrowers with good credit. Truist will continue offering unsecured loans through other channels.

Truist CEO Mike Lyons outlined the bank's goals, emphasizing disciplined resource allocation to enhance profitability. The company aims for a 15% return on tangible common equity (ROTCE) by 2027 and 16%-18% long-term, according to Lyons.

Analysts updated price targets for several companies. Bernstein raised Microsoft's target to $662, maintaining an Outperform rating. Morgan Stanley increased Global-E Online's target to $50 and upgraded it to Overweight. Other notable changes include Truist Financial, Annexon, Ameriprise Financial, Lyft, A O Smith, Hudson Pacific Properties, Boyd Gaming, and Veradermics.

Goldman Sachs reduced its price target for Truist Financial from $59 to $58. The stock is currently trading at $47.07, up 1.07%. Separately, RBC lowered its target to $51 from $53, maintaining an outperform rating.

Truist Financial's new CEO, Mike Lyons, outlined plans to improve the bank's performance, including leadership changes and divestitures. Lyons aims to achieve a 15% return on tangible common equity next year and 16%-18% long-term. The bank reported a net income of $799 million for Q3, down year-over-year, but expects to sell LightStream assets for $7.2 billion.

Truist Financial has announced leadership changes, including the departure of Dontá Wilson, its chief consumer and small business banking officer. Shimna Sameer, previously leading wealth management, will succeed Wilson. The bank also hired Jeff Warner from PNC to lead small business banking. Additionally, Truist agreed to sell $7.7 billion of LightStream loans to Carlyle, expecting $7.2 billion in net proceeds.

Guy LeBas, Janney's chief fixed income strategist, reports signs of modest expansion in commercial banking, with accelerating business borrowing and robust consumer spending. Major card issuers like JPMorgan, Bank of America, and Citigroup saw high-single to low-double digit spending growth, with declining charge-offs. Regional banks like PNC, U.S. Bancorp, and M&T also show positive trends, with low net charge-off rates.

Truist Financial, led by new CEO Mike Lyons, is restructuring its consumer banking business and selling its direct-to-consumer lending platform, LightStream, to Carlyle Group for $7.7 billion. The deal is expected to close by year-end, generating $7.2 billion in net proceeds. Lyons, who joined in September, has also overseen the sale of the bank's near-prime auto lending business. The bank has hired new executives to lead consumer and small business banking.