Truist Financial (TFC) stock soared today after the commercial bank beat Wall Street’s estimates in its Q4 2024 earnings report. Earnings per share of 91 cents exceeded analysts’ 88 cents estimate, representing a 12.3% increase year-over-year from 81 cents.
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Truist Financial’s Q4 revenue of $5.11 billion surpassed Wall Street’s estimate of $5.04 billion. It also represents revenue growth of 3.4% year-over-year from $4.94 billion. The company’s growth was fueled by average deposits increasing $5.7 billion while deposit costs dropped 19 basis points.
Investors are celebrating the strong Q4 beats today, sending shares of TFC stock up 3.02% during pre-market trading. This builds on its 31.64% increase over the last 52 weeks and its 3.69% rally year-to-date.
Truist Financial 2025 Guidance
Truist Financial provided a guidance update in its latest earnings report. It expects Q1 2025 adjusted revenue to fall 2% while adjusted expenses decrease 3% compared to Q4 2024. For the full year, TFC expects a 3% to 3.5% adjusted revenue growth alongside an up to 1.5% increase in adjusted expenses. It’s also projecting a net charge-off ratio of 60 bps and tax rate of 17% effective and 20% FTE in 2025.
Truist chairman and CEO Bill Rogers said the company has “strong momentum” going into 2025 and that it looks forward to “growing with our clients in some of the best markets in the country.”
Is TFC Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Truist Financial is Moderate Buy based on seven Buy and six Hold ratings over the last three months. With that comes an average price target of $51.38, a high of $60, and a low of $45.50. This represents a potential 14.23% upside for TFC shares. These price targets and ratings will likely change as analysts update their coverage following the Q4 earnings release.
