$TFC

42 stories mentioning TFCUpdated 9d ago

Every FINWIRES story that references TFC, newest first.

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index down 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) declining 0.5%.The Philadelphia Housing Index was falling 2.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was off 0.6%.Bitcoin (BTC-USD) was rising 0.8% to $65,190, and the yield for 10-year US Treasuries climbed 5.7 basis points to 4.598%.In economic news, the Conference Board's measure of leading indicators declined by 0.2% in June, larger than the 0.1% decrease expected in a Bloomberg-compiled survey, following a 0.1% increase in May.In corporate news, Truist Financial (TFC) shares fell 3.3% after JPMorgan downgraded the stock to underweight from neutral and lowered its price target to $53 from $53.50.LXP Industrial Trust (LXP) has agreed to be acquired by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board in a deal worth roughly $5.2 billion, including net debt and preferred equity. LXP shares rose 4.2%, and Brookfield was down 1.8%.BlackRock (BLK) is attempting to sell over $12 billion in bonds to finance a data center in El Paso, Texas, Bloomberg reported. BlackRock shares were down 1.5%.KKR (KKR) and Vauban Infrastructure Partners are among the shortlisted suitors seeking to buy a majority stake in Portuguese fiber operator DStelecom, Bloomberg reported. KKR shares fell 4.1%.

$BAM$BLK$KKR$LXP$TFC

Sectors10d ago

Sector Update: Financial

$TFC

Wire10d ago

Truist Financial Shares Fall After JPMorgan Downgrade

Truist Financial (TFC) shares were down 2.9% in Monday trading after JPMorgan downgraded the stock to underweight from neutral and lowered its price target to $53 from $53.50.Trading volume stood at about 5.8 million shares, compared with a daily average of 8.9 million.Price: $50.97, Change: $-1.54, Percent Change: -2.92%

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Research10d ago

JPMorgan Downgrades Truist Financial to Underweight From Neutral, Adjusts PT to $53 From $53.50

Truist Financial (TFC) has an average rating of hold and mean price target of $55.03, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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Sectors13d ago

Sector Update: Financial Stocks Softer Late Afternoon

Financial stocks fell in late Friday afternoon trading with the NYSE Financial Index declining 1% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.9%.The Philadelphia Housing Index lost 2.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was little changed.Bitcoin (BTC-USD) rose 0.7% to $64,215, and the yield for 10-year US Treasuries shed 2.8 basis points to 4.541%.In economic news, the University of Michigan's preliminary consumer sentiment index rose to 54.4 in July from 49.5 in June, above expectations for a gain to 51.0 in a survey compiled by Bloomberg.In corporate news, Jefferies Financial (JEF) evacuated its Manhattan offices after a fire broke out at the Papillon restaurant, prompting the bank to temporarily close its headquarters, Bloomberg reported. Jefferies shares fell 1.8%.Truist Financial's (TFC) Q2 earnings topped Wall Street estimates amid higher investment-banking, trading and wealth-management income, while the company tempered its full-year revenue-growth outlook. Truist shares fell 1.1%.Fifth Third Bancorp (FITB) reported a steeper-than-expected drop in Q2 profit, while Regions Financial's (RF) revenue fell short of Wall Street's estimates. Fifth Third shares fell 2.6%, and Regions dropped 2.3%.Travelers' (TRV) Q2 earnings unexpectedly increased, while the property and casualty insurer's written premiums came in ahead of market estimates. The shares jumped 9.2%.

$FITB$JEF$RF$TFC$TRV

US Markets13d ago

Truist Financial Second-Quarter Earnings Top Views; Revenue Outlook Revised

Truist Financial's (TFC) second-quarter earnings topped Wall Street's views amid higher investment banking, and trading and wealth management income, while the financial services company tempered its full-year revenue growth outlook.Earnings jumped to $1.23 a share in the June quarter from $0.90 a year earlier, topping the FactSet-polled consensus of $1.08. Overall revenue on a taxable-equivalent basis increased to $5.31 billion from $5.04 billion.Taxable-equivalent net interest income edged up 0.9% to $3.67 billion. Noninterest income jumped 17% to $1.64 billion, driven by a nearly 72% surge in investment banking and trading income on stronger client activity."During the quarter, we added new clients, deepened existing relationships, and grew profitably in the businesses and products where we've chosen to focus," Chief Executive Bill Rogers said during an earnings conference call, according to a FactSet transcript. "Average consumer and small business loans were up 2% versus the second quarter of 2025, as we slowed production in certain less strategic and less profitable consumer categories."For 2026, Truist now expects revenue growth between 3.5% and 4%, which at midpoint is lower than its previous outlook for a 4% increase.The revised guidance takes into account expectations for net interest income to grow 1% to 1.5%, down from the previous growth outlook of 2% to 3%, Chief Financial Officer Mike Maguire said on the call. Truist, however, revised its growth projection for noninterest income to around 10% from high-single digits previously, Maguire said."Consumer behavior remained resilient during the quarter, with stable liquidity spending and credit trends that remain within our expectations," said Rogers, who is set to be replaced by Michael Lyons as CEO, effective Sept. 1. Rogers will assume the executive chair role.BofA Securities, UBS Securities and Raymond James recently downgraded their ratings on the Truist stock amid concerns over the leadership transition and the possible change in the company's strategy and targets.Truist shares were down 0.7% in Friday afternoon trade. So far this year, the stock has gained 7.3% in value.Price: $52.72, Change: $-0.53, Percent Change: -1.00%

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Sectors13d ago

Sector Update: Financial Stocks Lean Lower Pre-Bell Friday

Financial stocks were leaning lower pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.5% higher.Truist Financial (TFC) stock was down 0.3% even after the company reported higher Q2 earnings and revenue.Travelers (TRV) shares were up more than 1% after the company posted higher Q2 core income and revenue.Fifth Third Bancorp (FITB) stock was down 0.8% after the company reported a decline in Q2 earnings.

$FAS$FAZ$FITB$TFC$TRV$XLF

Sectors13d ago

Sector Update: Financial

Financial stocks were edging higher pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was slightly lower.Truist Financial (TFC) stock was down 1% even after the company reported higher Q2 earnings and revenue.

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Commodities13d ago

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Friday as Investors Retreat From Chipmaker Stocks

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.7%, and the actively traded Invesco QQQ Trust (QQQ) fell 1.8% in Friday's premarket activity, as investors continued to pull back from chipmakers.US stock futures were also lower, with S&P 500 Index futures down 0.8%, Dow Jones Industrial Average futures slipping 0.5%, and Nasdaq futures declining 1.6% before the start of regular trading.June housing starts jumped by 19% from the previous month to a 1.427 million annual rate, above expectations compiled by Bloomberg as of 7:30 am ET for a 1.310 million rate after a decrease to a 1.199 million pace in May.US import prices rose by 0.3% in June, compared to the 0.7% decrease expected in a survey compiled by Bloomberg and following a 1.7% increase in May.Industrial production data for June will be released at 9:15 am ET, followed by the preliminary University of Michigan consumer sentiment reading for July at 10:00 am ET.In premarket action, bitcoin was down by 1.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.7% lower, Ether ETF (EETH) retreated 2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.3%.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.6%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.7%, and the iShares US Consumer Staples ETF (IYK) advanced 0.9%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.7%. The VanEck Retail ETF (RTH) gained 1%, while the State Street SPDR S&P Retail ETF (XRT) was 0.5% lower.XPeng (XPEV) shares were down more than 5% pre-bell after closing the prior session with a 1% rise. The Wall Street Journal reported Thursday that the company is launching its L03 SUV in Munich, marking its first global vehicle launch outside China as it expands in Europe and other overseas markets.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 2.2%, and the iShares US Technology ETF (IYW) was 2.1% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 2.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) declined 3.4%, while the iShares Semiconductor ETF (SOXX) fell by 3.9%.Cadence Design Systems (CDNS) shares were down more than 5% in premarket activity following a 1.8% fall at the prior close. The company said it will work with logic semiconductor manufacturer Rapidus to advance "agentic AI" for advanced-node system-on-chip design under a new collaboration.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated 0.6%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were flat.SpaceX's (SPCX) stock was down more than 4% before the opening bell after CEO Elon Musk said in a Thursday post on X that the company's Starship rocket triggered an "automatic launch abort," with the next launch to be rescheduled possibly "in a few days".Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.4%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) slipped 0.5%. The iShares Biotechnology ETF (IBB) was down 0.4%.GSK (GSK) stock was down more than 2% premarket after the company said it would discontinue development of camlipixant for refractory chronic cough after the drug produced mixed results in the phase 3 CALM-1 and CALM-2 trials.EnergyThe iShares US Energy ETF (IYE) was up 0.6%, while the State Street Energy Select Sector SPDR ETF (XLE) was 1.5% higher.BP (BP) stock was up more than 1%, and ConocoPhillips (COP) was 2% higher before market open. CNBC reported Friday that the companies plan to reveal billions of dollars in new investments in Iraq to help build its energy sector and increase resilience against Iranian disruptions.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.1% lower.Truist Financial (TFC) shares traded down 1% in early hours activity, even after the company reported higher Q2 earnings and revenue.CommoditiesFront-month US West Texas Intermediate crude oil advanced by 2.7% to $81.04 per barrel on the New York Mercantile Exchange. Natural gas was up by 0.5% to $2.87 per 1 million British Thermal Units. The United States Oil Fund (USO) was up 2.4%, while the United States Natural Gas Fund (UNG) was 1% lower.Gold futures for July retreated 0.1% to $3,988.00 an ounce on the Comex. Silver futures were down 1.1% to $55.59 an ounce. SPDR Gold Shares (GLD) decreased 0.2%, and the iShares Silver Trust (SLV) was 0.9% lower.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BP$CDNS$COP$EEM$EETH$EXI$FAS$FAZ$GLD$GSK$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RTH$SLV$SOXX$SPCX$SPY$TFC$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XPEV$XRT$XSD

US Markets13d ago

Stocks Fall Pre-Bell as Chip Sell-Off Continues

The benchmark US stock measures were pointing lower before the open Friday as a sell-off in semiconductor shares continued to weigh on market sentiment.The S&P 500 declined 0.9%, the Dow Jones Industrial Average was off 0.7% and the Nasdaq fell 1.8% in premarket activity. The indexes finished the previous trading session in the red.Shares of tech bellwether and chipmaking giant Nvidia (NVDA) decreased 2.5% pre-bell, while Micron Technology (MU) edged down 0.4% following a 5.7% drop at the close of Thursday. Advanced Micro Devices (AMD) fell 2.7%, while Intel (INTC) moved down 3.3%. SanDisk (SNDK) fell 1.3% before the bell after closing the previous session down 12.6%. Taiwan Semiconductor (TSM) slipped 3.3%.Streaming giant Netflix (NFLX) tanked 9.5% as it reported second-quarter revenue below Wall Street's estimates. Intuitive Surgical (ISRG) slumped 12% as growth of the company's da Vinci robotic surgery system in the US moderated amid changes in Affordable Care Act subsidies.SpaceX (SPCX) declined 2.7% after Chief Executive Elon Musk said in a social media post that a planned Starship test flight was aborted after some engines failed to start.The US Central Command said Thursday its forces completed the latest major wave of strikes against Iran. Tehran reportedly said Friday it expanded its attacks in the Middle East by targeting US military forces in Syria and Bahrain.West Texas Intermediate crude oil rose 2.2% to $80.68 a barrel before the opening bell, while Brent gained 1.9% to $85.84.Treasury yields were trending downwards in premarket action, with the two-year rate retreating 3.4 basis points to 4.12% and the 10-year rate falling 4.4 basis points to 4.53%.Friday's economic calendar has the housing starts and permits data for June at 8:30 am ET, along with the import and export prices report for the same month. The industrial production report for June is out at 9:15 am, followed by the preliminary University of Michigan's consumer sentiment report for July at 10 am.The weekly Baker Hughes oil-and-gas rig count is out at 1 pm.US retail sales edged higher in June despite lower gasoline prices that drove a sharp decline in gas station receipts, official data showed Thursday.Travelers (TRV), Truist Financial (TFC), Fifth Third Bancorp (FITB), Regions Financial (RF) and Autoliv (ALV) are scheduled to release their latest financial results before the bell.Gold ticked up 0.2% to $4,001 per troy ounce, while bitcoin declined 1.8% to $63,024.

Dow JonesNasdaq CompositeS&P 500$ALV$AMD$FITB$INTC$ISRG$MU$NFLX$NVDA$RF$SPCX$TFC$TRV

Sectors22d ago

Sector Update: Financial Stocks Fall Late Afternoon

Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index falling 1.7% and the State Street Financial Select Sector SPDR ETF (XLF) dropping 1.8%.The Philadelphia Housing Index fell 3.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 1.5%.Bitcoin (BTC-USD) was declining 1.9% to $62,133, and the yield for 10-year US Treasuries rose 4 basis points to 4.569%.In economic news, US Federal Reserve officials held diverging views last month on the appropriate path of interest rates, minutes from the central bank's June policy meeting showed Wednesday. The Federal Open Market Committee unanimously decided to maintain its policy rate between 3.50% and 3.75% for the fourth consecutive time at the June 16-17 meeting. At the time, it removed the so-called easing bias from its policy statement.Separately, the International Monetary Fund lowered global economic growth expectations for 2026 as the impact of the Middle East war will likely counter a boost from rising AI adoption.In corporate news, Block (XYZ) will pay $45 million as part of a multistate settlement to resolve allegations that its Cash App failed to protect users from fraud and provide a fraud protection and resolution mechanism as required by law, Nebraska Attorney General Mike Hilgers said Wednesday. Block shares were down 1.8%.Truist Financial (TFC) faces a tough road ahead amid a leadership change and higher interest rates, BofA Securities said, joining other brokerages that recently downgraded their ratings on the regional bank. BofA lowered Truist's rating to neutral from buy, with a price target of $56. The downgrade follows recent rating cuts by Morgan Stanley, UBS Securities and Raymond James. Truist shares were down 3.6%.Saratoga Investment (SAR) reported a decline in fiscal Q1 net investment income per share late Tuesday, falling more than the market had anticipated. Its shares fell 14%.Lemonade's (LMND) recent share price rally has largely priced in the company's growth and earnings outlook, leaving limited room for additional upside without new catalysts, Morgan Stanley said in a note. Morgan Stanley downgraded the stock to equal weight from overweight with a price target of $75. Lemonade shares slumped past 8%.

$LMND$SAR$TFC$XYZ

Sectors22d ago

Sector Update: Financial Stocks Decline in Afternoon Trading

Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index dropping 1.6% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.5%.The Philadelphia Housing Index fell 2.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 1.2%.Bitcoin (BTC-USD) was declining 2.9% to $62,075, and the yield for 10-year US Treasuries rose 4.8 basis points to 4.58%.In economic news, the minutes from the Fed's policy meeting on June 16-17 are due at 2 pm ET. Investors will parse the views on the direction of interest rates at a time when the market is pricing in hikes. The probability of a 25-basis-point increase in rates is the highest among all other policy outcomes in September, October, and December, the CME FedWatch tool showed Wednesday.In corporate news, Truist Financial (TFC) faces a tough road ahead amid a leadership change and higher interest rates, BofA Securities said, joining other brokerages that recently downgraded their ratings on the regional bank. BofA lowered Truist's rating to neutral from buy, with a price target of $56. The downgrade follows recent rating cuts by Morgan Stanley, UBS Securities and Raymond James. Truist shares were down 3.3%.Lemonade's (LMND) recent share price rally has largely priced in the company's growth and earnings outlook, leaving limited room for additional upside without new catalysts, Morgan Stanley said in a note. Morgan Stanley downgraded the stock to equal weight from overweight with a price target of $75. Lemonade shares slumped past 8%.BlackRock (BLK) is expected to deliver strong Q2 results driven by ETF demand, with shares supported by growth potential, margin expansion, and an attractive valuation, UBS Securities said in a note. BlackRock shares were shedding 2.1%.

$BLK$LMND$TFC

Sectors22d ago

Sector Update: Financial

$TFC

Wire22d ago

BofA Flags Truist CEO Transition in Latest Broker Downgrade

Truist Financial (TFC) faces a tough road ahead amid a leadership change and higher interest rates, BofA Securities said, joining other brokerages that recently downgraded their ratings on the regional bank.BofA lowered Truist's rating to neutral from buy, with a price target at $56. The downgrade follows recent rating cuts by Morgan Stanley, UBS Securities and Raymond James.Last month, Truist said Michael Lyons will become its chief executive, effective Sept. 1, replacing Bill Rogers, who will assume the executive chair role."Combined with a tougher rate backdrop, we see the stock struggling to outperform until investors gain confidence that Lyons can close the profitability gap relative to peers," BofA analysts wrote in a Wednesday note to clients.The prospects of a tighter monetary policy at the Federal Reserve have increased as the Iran war drove up inflation.BofA views Truist's return on tangible common equity as among the lowest within super-regional banks. Truist's 15% ROTCE target by 2027 and a longer-term goal of 16% to 18% "still leaves Truist playing catch-up versus peers," the analysts wrote."Financial engineering has largely been pulled forward with the sale of the insurance business, bond book restructuring, and aggressive buybacks," the brokerage said, discussion strategic options for the bank under new CEO. "(Merger and acquisition) has failed, and we do not think investors have much appetite for another deal unless it is an outright sale of Truist -- which is difficult given the bank's size."Truist, created as a result of the BB&T and SunTrust merger in December 2019, is still working to unlock the full benefits of that deal, according to the BofA report.That means Lyons may have to give the bank's strategy a shot for a few years, according to the analysts, who pointed out a "fiercely competitive" banking landscape in the Southeast."Given the challenges shareholders have endured, we see limited appetite for another multi-year turnaround before evidence of tangible progress emerges," the analysts said.Shares of Truist were down 3.6% intraday Wednesday.Price: $49.54, Change: $-1.82, Percent Change: -3.54%

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Wire22d ago

Truist Financial's CEO Transition Plan Presents Increased Risks, BofA Says

Truist Financial's (TFC) appointment of Mike Lyons as its new chief executive officer increases risk, BofA Securities analysts said in a Wednesday note.Analysts said that while Lyons has a strong operating background, the external hire is an implicit acknowledgment that nearly seven years after the merger of BB&T and SunTrust, the company's strategy is falling short.BofA said that these uncertainties, combined with a tougher rate backdrop, mean the stock will likely struggle to outperform until investors gain confidence that Lyons can close the profitability gap relative to peers."Lyons will want to give the independent strategy a shot for a few years," analysts said. "In the meantime, the risk of franchise attrition is not immaterial given a fiercely competitive Southeast banking landscape."BofA downgraded the stock's rating to neutral from buy, with a $56 price target.Price: $50.05, Change: $-1.32, Percent Change: -2.56%

$TFC

Research22d ago

BofA Securities Downgrades Truist Financial to Neutral From Buy, Price Target is $56

Truist Financial (TFC) has an average rating of overweight and mean price target of $55.04, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$TFC

US Markets23d ago

Truist Earnings Path Uncertain Amid Leadership Changes, Rate Hike Prospects, UBS Says in Downgrade

Truist Financial's (TFC) upcoming leadership changes and the growing prospects of a Federal Reserve rate hike have introduced fresh uncertainty to the financial service company's earnings potential in the near term, UBS Securities said Tuesday.The brokerage downgraded its rating on the Truist stock to neutral from buy and reduced its price target to $55 from $58.Last month, the company said Michael Lyons will become its chief executive, effective Sept. 1, replacing Bill Rogers, who will assume the executive chair role."While (Truist's) shares have lagged peers this year, the recently announced CEO change and the prospect of rate hikes in the forward curve cloud near-term visibility on the leadership roster, talent retention, near-term (earnings-per-share) power, and recently introduced medium-term targets," UBS analyst Erika Najarian said in a note to clients Tuesday. "Until Mr. Lyons firms his leadership line-up, (Truist) could be vulnerable to talent turnover."The prospects of the Fed tightening its monetary policy this year have increased amid growing inflationary concerns recently.UBS lowered its EPS outlook for Truist to $4.50 from $4.60 for 2026 and to $5 from $5.15 for next year."While valuation is undemanding, we think (Truist) may be a value trap, as the market awaits the potential for revisions on leadership, strategy, and financial targets on the back of a new outsider CEO appointment," Najarian said. "Even if these first moves are executed well, it will likely take time for financial results to reflect these changes."Earlier this month, Morgan Stanley downgraded its ratings on the stocks of Truist and Prosperity Bancshares (PB), saying the companies are bracing for a more intense competition for deposits in the medium term, which could hurt their earnings.Price: $51.51, Change: $+0.09, Percent Change: +0.18%

$PB$TFC

Research29d ago

Raymond James Downgrades Truist Financial to Market Perform From Outperform

Truist Financial (TFC) has an average rating of overweight and mean price target of $55.20, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$TFC

Research30d ago

Citigroup Downgrades Truist Financial to Neutral From Buy, Adjusts Price Target to $54 From $63

Truist Financial (TFC) has an average rating of overweight and mean price target of $55.72, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$TFC

US Markets44d ago

Fiserv CEO Change Timing Amid Ongoing Initiatives Triggers Concerns, Deutsche Bank Says

Fiserv (FISV) has now changed its leadership twice in a short period, with the latest transition coming at a time when the company is seeking to stabilize its core banking business and drive growth in its Clover platform, Deutsche Bank said Tuesday.On Monday, the financial technology and payments company said it appointed Takis Georgakopoulos as chief executive, replacing Mike Lyons, who stepped down to become CEO of Truist Financial (TFC). Fiserv had appointed Lyons as CEO in May 2025."Our primary concern is the timing, coming only a few weeks after the (company's) investor day, with (Fiserv) executing a significant transformation agenda across banking software modernization, platform modernization, Clover, and the One Fiserv operating model," Deutsche Bank analyst Nate Svensson said in a note to clients Tuesday.Clover is Fiserv's cloud-based point-of-sale and business management platform."With the company now seeking to stabilize its core banking business and drive growth in Clover by strengthening the product set and deepening its sales efforts, investors will be monitoring any potential disruption," Svensson said.Fiserv shares were up 3.4% in Tuesday afternoon trade. The stock has lost nearly 70% in value since Lyons' appointment as CEO, according to Deutsche Bank.The bulk of that slump reflected the "disclosure and rollback of aggressive, short-term oriented customer initiatives that predated his tenure and drove revenue and profitability erosion," Svensson said Tuesday."As a result of certain client actions taken over the last couple of years, including a move to consolidate from 16 to 5 (core banking platforms), we've suffered revenue attrition and lost some market share, which has been disappointing to us," Lyons said in May during the company's investor day, according to a FactSet transcript."Over the last six months, we've moved aggressively to reverse these trends, carefully reviewing all aspects of the business," Lyons said at the time. "Our work and lots of feedback from our clients has identified very addressable issues predominantly on the service and product delivery side, and less so on the technology side. And this assessment has been validated externally."Most recently, Georgakopoulos served as Fiserv's co-president leading technology and merchant solutions.Also on Monday, the company said it continues to expect full-year adjusted earnings of $8 to $8.30 a share and organic revenue growth of 1% to 3%. Analysts polled by FactSet are looking for non-GAAP EPS of $8.12.Price: $49.38, Change: $+1.47, Percent Change: +3.07%

$FISV$TFC

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