Truist Financial Corporation (TFC), headquartered in Charlotte, NC, is a $57.6 billion financial services company offering banking, investment, wealth management, and specialized lending across the Southeastern and Mid-Atlantic U.S. TFC is expected to announce its fiscal fourth-quarter earnings for 2024 before the market opens on Thursday, Jan. 16.

Ahead of the event, analysts expect TFC to report a profit of $0.88 per share on a diluted basis, up 8.6% from $0.81 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing on another occasion. It beat the consensus estimate by 9% in the previous quarter. 

For fiscal 2024, analysts expect TFC to report EPS of $3.71, up 3.3% from $3.59 in fiscal 2023.

TFC stock has climbed 17.5% over the past year, underperforming the S&P 500’s ($SPX) 23.8% gains and US Regional Banks iShares ETF’s (IAT) 20.4% gains over the same time frame.

TFC released its Q3 earnings report on Oct. 17, and the stock rose 1.7% in the next trading session. It reported earnings of $0.97 per share and revenue of $5.14 billion, beating the analysts’ expectations. 

Analysts’ consensus opinion on TFC stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 21 analysts covering the stock, eight advise a “Strong Buy” rating, three have a “Moderate Buy” rating, and ten suggest a “Hold.” The average analyst price target for TFC is $50.12, indicating a potential upside of 15.5% from the current levels.