Truist Still A 'Show Me Story,' Now With A More Challenging Macro Situation

Truist Financial Corporation faces intensified competition and macro headwinds, with recent results relying on taxes and trading rather than core banking strength. Management targets 16%+ ROTCE by 2028, but near-term core loan growth and deposit trends lag peers, raising concerns about guidance predicated on regaining market share. TFC's capital markets, trading, and wealth management show promise, supported by strong capitalization and ongoing tech investments.