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CHARLOTTE - Truist Financial Corporation (NYSE:TFC), a $54.5 billion market cap financial institution with a robust 4.88% dividend yield, announced Monday the appointment of three new leaders to its Commercial and Corporate Banking franchise, focusing on expanding its industry expertise in the energy and technology sectors. According to InvestingPro analysis, Truist currently appears undervalued, with analysts having revised earnings estimates upward for the upcoming period.
Jeff Ard has been named Managing Director and Head of Energy and Power Corporate Banking, bringing nearly 20 years of banking experience in the energy industry. Ard previously served as Citi’s North America Head of Energy Corporate Banking.
Joining Ard in the Energy and Power group is Cliff Vaz as Managing Director. Vaz also comes from Citi, where he led Upstream Corporate Banking for Natural Resources and Clean Energy and accumulated over 16 years of experience.
Veronica LaMarca has been appointed Head of Technology Corporate Banking after serving as Managing Director for Technology within Global Corporate Banking at J.P. Morgan, where she worked for 20 years across corporate and investment banking roles.
"These seasoned professionals bring decades of collective experience and proven leadership to Truist," said Jim Pirouz, head of Corporate Banking for Truist, according to the company’s press release.
The appointments follow previous leadership announcements made in September and June 2025 as Truist strengthens its coverage across key growth segments including Consumer and Retail, Financial Institutions, Healthcare, Industrials and Services, and Media and Telecom.
Truist Commercial and Corporate Banking operates within the company’s Wholesale Banking segment, which provides financial solutions to commercial, corporate, institutional and high-net-worth clients.
Truist Financial Corporation, headquartered in Charlotte, North Carolina, is a top 10 commercial bank with total assets of $544 billion as of September 30, 2025. The bank has maintained dividend payments for 53 consecutive years and generated revenue of $18.28 billion in the last twelve months. InvestingPro subscribers can access detailed analysis and 7 additional key insights about Truist’s financial health and growth prospects through the comprehensive Pro Research Report, available exclusively on the platform.
In other recent news, Truist Financial Corporation reported its third-quarter earnings for 2025, with a net income of $1.3 billion or $1.04 per share. This figure missed the earnings per share (EPS) forecast of $0.99, resulting in an EPS surprise of -8.08%. Despite this, Truist Financial’s stock experienced a pre-market increase following the announcement. Additionally, Morgan Stanley raised its price target for Truist Financial to $55.00 from $54.00, maintaining an Equalweight rating. The bank noted that while Truist missed consensus estimates on net interest income due to a softer net interest margin, loan growth is expected to improve, with the net interest margin projected to rebound in the fourth quarter. Meanwhile, Keefe, Bruyette & Woods also raised its price target on Truist Financial to $49.00 from $48.00, maintaining a Market Perform rating. This adjustment was based on Truist’s outlined path toward achieving approximately 15% Return on Tangible Common Equity (ROTCE) by 2027. These developments highlight the ongoing analyst attention and strategic financial planning at Truist Financial.
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