Yes all bank stocks were down on the fed news, but SunTruist was really hammered. Have the analysts figured out the dumpster fire that is going on?
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Agree. It's just a matter of time before analysts and the market figure out what everyone on the inside realizes - this merger was a HUGE mistake.
I don’t think the analysts have clued in yet. If you listen to the analyst calls, Kelly has repeatedly painted a picture for them of two cultures that are fitting together “better than he could have ever imagined”, and two teams that “go to lunch together” and are getting along great. Why would analysts think, given BB&T‘s solid history of acquisitions, that Kelly would so misrepresent this current merger?
The analysts listen to Kelly’s message of happy collaboration, and then probably assume the noise they are hearing in the field is simply from the few disgruntled employees common in all mergers. My guess is if the analysts looked deeper, you would see a much lower stock price.
We are losing many of our very best employees, and system integration is rife with poor communication and politics. And to fix this mess - a remaining team working in a toxic “us vs. them” environment, worn out after 2 years of fearing for their job, and fully aware their executive team simply doesn’t care. Doesn’t that sound like a company ready to dominate competitors, and a great place to to invest your money!!