Truist Financial (NYSE: TFC) Q1 Performance: Strong EPS and Raised Price Target

Font: Financial Modeling Prep  • Apr 17, 2026

• Truist Financial (NYSE: TFC) reported strong Q1 earnings per share (EPS) of $1.09, surpassing analyst estimates of $0.99.
• Analyst firm Jefferies maintained a "hold" rating for Truist Financial while raising its price target to $45.00 from $42.00.
• Despite robust income growth, Truist Financial's total quarterly revenue of $5.15 billion narrowly missed analyst estimates, and the company projects a 3-4% increase in future expenses.

Truist Financial is a major U.S. bank holding company formed by the merger of BB&T and SunTrust. It provides a wide range of financial services, including consumer and commercial banking. The company operates in a competitive landscape alongside other large national banks like Bank of America (NYSE: BAC) and JPMorgan Chase (NYSE: JPM).

On April 17, 2026, analyst firm Jefferies issued a "hold" rating for Truist Financial. A hold rating suggests investors should maintain their current position without buying more shares. Jefferies also raised its price target to $45.00 from $42.00, while the stock was trading higher at $50.53 per share.

The higher price target reflects a strong first quarter. As highlighted by Zacks, Truist Financial reported earnings per share (EPS) of $1.09, which beat estimates of $0.99. EPS, the company's profit per outstanding share, grew 25.3% from the $0.87 reported in the same quarter last year.

The company's financial performance is supported by solid income growth. Net interest income, the profit banks make from lending, reached $3.60 billion. In addition, non-interest income climbed a significant 11.6% to $1.55 billion, contributing to a total quarterly revenue of $5.15 billion.

However, the "hold" rating also considers some mixed results. As reported by GuruFocus, Truist Financial's revenue of $5.15 billion narrowly missed analyst estimates of $5.17 billion. Furthermore, Truist Financial projects a 3-4% increase in expenses for the next quarter, which could weigh on future profitability.