Interested in Truist Financial Corporation? Here are five stocks we like better.
Truist will sell its $5.5 billion near-prime auto loan portfolio and exit its Regional Acceptance Corporation business, which was roughly break-even despite high loan yields. The transaction is expected to modestly improve earnings, tangible book value and credit metrics.
The bank reaffirmed its financial outlook, including third-quarter net interest income growth of about 1.5%, full-year growth of 1% to 1.5%, and its $5 billion share-repurchase plan. The sale is expected to generate approximately $950 million in capital but reduce net interest margin by 4 to 5 basis points.
New CEO Mike Lyons is accelerating a broader portfolio and capital-allocation review, with Truist emphasizing relationship banking, deposits, commercial lending, payments, wealth management and potentially credit cards, mortgages and home equity lending.
Smart Money Shifts: U.S. Bancorp Pairs Tech With Yield
#truist #financial #loan #credit
Truist will sell its $5.5 billion near-prime auto loan portfolio and exit its Regional Acceptance Corporation business, which was roughly break-even despite high loan yields. The transaction is expected to modestly improve earnings, tangible book value and credit metrics.
The bank reaffirmed its financial outlook, including third-quarter net interest income growth of about 1.5%, full-year growth of 1% to 1.5%, and its $5 billion share-repurchase plan. The sale is expected to generate approximately $950 million in capital but reduce net interest margin by 4 to 5 basis points.
New CEO Mike Lyons is accelerating a broader portfolio and capital-allocation review, with Truist emphasizing relationship banking, deposits, commercial lending, payments, wealth management and potentially credit cards, mortgages and home equity lending.
Smart Money Shifts: U.S. Bancorp Pairs Tech With Yield
#truist #financial #loan #credit
2 months ago
