After a short stay just above 30$ it is under that again. Market doesn’t think Bill n Beau can right this ship. What do they care, they got their bag!
13 replies (most recent on top)
Almost 50% down over the last 2 years. Much worse than the next 10 largest banks. "Bold" action blaming prior management when Rogers unofficially lead in 2019 and became Chairman in 2021. Thankfully he isn't commanding troops. Google 2004 SunTrust lawsuit credit officer. Google 2012 SunTrust discrimination. Rogers was in Senior leadership and is unfit. Tom Skains must convene a meeting of independent directors. Remove the 3 stooges King, Rogers, Beau and seek a strategic review. Take the red pill and keep digging on 2004. Find out how deep the rabbit hole goes.
The market clearly doesn’t think it is. With increasing capital requirements and decreasing profitability, it’s only a matter of time before it’s cut
A 7% dividend is not sustainable…
Reasonable chance it doesn’t go north of 30$ anytime in the foreseeable future. No matter how many consolidations and layoffs are done. Everyone is wise to Bill and the boys and will continue to hammer them. They better be able to continue the dividend as is are it will be really ugly!
Clearly in over his head and Mayo is like a shark circling. But if the BoD doesn’t recognize it or care, then I guess it doesn’t matter.
This quote from Rogers:
“The intensity I can assure you hear about expenses, but not just expenses, but just redesigning the chassis.
That focus is intense, but it is about trying to create permanent change than structural.”
Permanent change has already happened and none of it has been good for the bank, shareholders or there beloved “stakeholders”.
Good vs evil. Justice vs corruption. Resist these vicious leeches.
Unfortunately Rogers isn’t going anywhere until the BOD is shaken up and that’s not going to happen without significant institutional investor push. Could that be coming, nothing to indicate that anything is brewing. He and his band of merry robbers have plenty of excuses that can and will continue to be used successfully,
“Rogers must go and be replaced by an independent outsider”.
I agree wholeheartedly. How any Board member could listen to the last earnings call and believe they have a competent management team in place is beyond me. That earnings call was a clown show, and would have been hilarious if I didn’t own Truist stock.
We don’t have shareholders, we have stakeholders….
Shareholders, drop Truist like a used rubber!
Rogers must go and be replaced by an independent outsider.