Truist Financial rises on Q3 profit beat
16/10/2026 15:00
BUZZ-Truist Financial rises on Q3 profit beat ** US lender Truist Financial's TFC.N shares up 2.6% at $47.85
** Co reports Q3 adjusted EPS of $1.16, beating analysts' estimates of $1.11 - LSEG data
** Adjusted revenue of $5.3 billion, however, falls short of estimate of $5.35 billion
** Co also took $1.4 billion loss on sale of some bonds and a $66 million loss on sale of some subprime loans through its auto lending unit, Regional Acceptance Corporation.
** Stock trading at 9.48 times expected EPS over next 12 months, below industry median of 10.18
** 6 of 22 brokerages rate stock "buy" or higher, 12 "hold" and 4 "sell"; median PT $54.50 - LSEG data
** Including session's move, TFC stock down nearly 3% YTD
(Reporting by Jayasree Prabhu)
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