Truist Financial Q1 EPS Hits $1.09; Revenue $5.15B Misses Estimates and Expenses to Rise
Truist Financial reported Q1 EPS of $1.09 versus estimates of $0.99 and total revenue of $5.15 billion narrowly missing forecasts. Jefferies maintained a hold rating but raised its price target to $45 and forecast a 3-4% increase in expenses.
1. Q1 Financial Results
Truist Financial delivered EPS of $1.09, topping estimates of $0.99, while total revenue reached $5.15 billion, marginally below the $5.17 billion forecast. Net interest income rose to $3.60 billion and non-interest income increased 11.6% to $1.55 billion.
2. Price Target Revision
Analyst firm Jefferies maintained a hold rating on the company and increased its 12-month price target to $45, up from $42, reflecting confidence in core earnings growth despite valuation constraints.
3. Expense Growth Outlook
The bank projects a 3-4% rise in operating expenses next quarter, driven by higher personnel and technology costs, which could moderate profit margin expansion.