Baird, Keefe, Bruyette & Woods, Evercore ISI Group, and Stephens & Co. have revised their price targets for Truist Financial, maintaining their respective ratings while adjusting valuation outlooks. Baird analyst David George raised the target to $56 from $55, while Keefe, Bruyette & Woods analyst Christopher McGratty increased the target to $55 from $53. Conversely, Evercore ISI Group analyst John Pancari maintained an Outperform rating but lowered the price target to $56 from $57. Stephens & Co. analyst Andrew Terrell maintained an Overweight rating while reducing the price target to $57 from $59. The adjustments reflect varying perspectives on the stock's near-term potential.

Rating and Price Target Updates

The research notes confirm the Neutral, Market Perform, and Outperform stances on the company, listed on the NYSE under the ticker TFC. The changes indicate modest shifts in valuation expectations across the firms.

Truist Financial Corp reported second-quarter diluted earnings per share of $1.23, beating the analyst consensus estimate of $1.08 by nearly 14% and rising 35% from the 90 cents delivered in the same period last year. Revenue of $5.27 billion edged past the $5.24 billion consensus estimate, increasing 4.67% year-over-year. The bank's performance was driven by broad-based improvement in fee income and capital returns, alongside a 10 basis point increase in its common equity tier 1 ratio to 10.9%.

Total noninterest income climbed to $1.64 billion, a 17% jump from the second quarter of 2025, fueled by investment banking and trading revenue which more than doubled year-over-year to $352 million. Wealth management income grew 7.8% from a year ago to $375 million as assets under management expanded. Average loans and leases held for investment grew to $329.2 billion, up $2.1 billion from the prior quarter, while average deposits increased $5.9 billion, or 1.5%, driven by interest checking accounts.

Key Financial Metrics

Truist returned $1.8 billion to shareholders during the quarter through $1.2 billion in common stock repurchases and dividends of 52 cents per share. Return on average tangible common equity improved to 15.4% from 13.8% in the first quarter and 12.3% a year earlier. The bank announced that Mike Lyons will take over as chief executive in September.

Guidance and Outlook

For the third quarter, Truist guided for revenue of approximately $5.35 billion, compared to the analyst estimate of $5.38 billion. For the full year, the bank widened its revenue outlook to a range of $21.22 billion to $21.32 billion, bracketing the prior consensus estimate of $21.28 billion.