This analysts isn’t buying it:
“Truist shares look meaningfully undervalued, but at least some discount seems appropriate unless/until management can show that differentiated earnings performance promised with the SunTrust deal.”
Underwhelming Results Across The Board
In a quarter where a lot of banks produced better than expected earnings, Truist did not. More concerning to me is that there isn’t an easily fixable source of this underwhelming performance.
I would love for one person in HR, just one, to have enough of a moral compass to come forward as a whistleblower and tell the public the truth about Truist. These employee surveys are as big of a farce as the employee “job selection” (aka age discrimination) criteria. It is all so egregious it would be downright comical if good people weren’t getting hurt and Bill, Beau and Co. weren’t getting away with it.
TFC has a 12 month forward PE to Growth (PEG) ratio of 1.17. Markets are overvaluing TFC in relation to its projected growth as its PEG ratio is currently above the fair market value of 1. 4.36's PEG comes from its forward price to earnings ratio being divided by its growth rate. PEG ratios are one of the most used valuation metrics due to its incorporation of more company fundamentals metrics and a focus on the firm's future rather than its past.
if you want to feel good about SunTruist go find Rogers recent interview with Nido Qubein on the PBS program side by side. If he says purpose once he says it 50 times of course while saying trust as much as possible. Easy to see how he snookered the old tent preacher after watching this. I almost threw up in my mouth a little it was so sickening to watch.
Bringing in a rookie CFO at the exact time we are missing earnings expectations , what all hBBT managers knew would happen, is a last laugh for an inferior management team from a smaller bank to hBBT. Everyone knows this is an intermediary step to being bought out by US Bank. By the way, USB needs nobody on staff today except client facing folks.
Tick tick tick tick
Time is running out
11/10
Big day in HR
For those eligible, don't hold your breath for AIP/LTI this year. Add that to the obvious forthcoming deficit in base raises vs inflation. All the while they continue to try and squeeze more blood from the turnip re: productivity.
Also, get yourself prepared for 2024 and beyond. The employee survey regarding benefits was a charade that will give them cover as they ultimately will provide less/ worse/more expensive benefits.