Truist names Jonathan Pruzan to board of directors

CHARLOTTE, N.C. - Truist Financial Corporation (NYSE: TFC), a financial institution with a market capitalization of $51.73 billion and currently trading at $39.60, has announced the appointment of Jonathan Pruzan to its board of directors, where he will also contribute to the board’s risk committee. According to InvestingPro analysis, Truist appears undervalued at current levels, making this leadership enhancement particularly noteworthy for investors. This move is part of the company’s ongoing efforts to enhance its leadership team and strategic direction.

Pruzan’s extensive background in financial services includes a recent role as co-president of Pretium, a specialized investment firm with $60 billion in assets under management. His experience spans over three decades, with a significant tenure at Morgan Stanley, where he served as chief operating officer, chief financial officer, and head of corporate strategy at various points from 1994 to 2023. Pruzan’s early career began at PaineWebber in 1990.

Truist’s Chairman and CEO Bill Rogers expressed confidence in Pruzan’s abilities, noting his broad knowledge and experience advising financial institutions as assets that will benefit the company’s strategic direction.

Pruzan acknowledged his appointment with honor, recognizing Truist as a purpose-driven institution known for innovation and leadership in the financial services sector.

In addition to his new role at Truist, Pruzan is actively involved in various educational, economic, and philanthropic organizations. He holds a bachelor’s degree from Tufts University and serves on its board of trustees. His other board memberships include the Peterson Institute of International Economics and The American Ditchley Foundation. Pruzan is also a life trustee of the New York-Presbyterian Hospital and a member of the Council on Foreign Relations.

Truist Financial Corporation, headquartered in Charlotte, North Carolina, is a top-10 commercial bank in the United States, with total assets of $536 billion as of March 31, 2025. The company offers a diverse range of financial products and services and is committed to building better lives and communities. Notable strengths include a robust dividend yield of 5.29% and an impressive 53-year streak of consecutive dividend payments. InvestingPro analysis reveals additional insights, including expected net income growth and sales expansion for the current year. For detailed financial analysis and more exclusive insights, investors can access the comprehensive Pro Research Report, available to InvestingPro subscribers.

The information for this article is based on a press release statement from Truist Financial Corporation.

In other recent news, Truist Financial Corporation reported its first-quarter 2025 earnings, revealing an earnings per share (EPS) of $0.87, which slightly exceeded the forecast of $0.86. The company’s revenue stood at $4.95 billion, aligning with expectations. Truist also announced a quarterly cash dividend of $0.52 per share for common stockholders, payable on June 2, 2025. In addition, the bank declared dividends for several series of preferred stock, reflecting its ongoing commitment to shareholder value.

Analyst Terry McEvoy from Stephens adjusted Truist Financial’s stock price target to $46 from $48, maintaining an Overweight rating. The adjustment follows Truist’s earnings report, which showed higher fee income and improved expense management. Truist’s management updated its 2025 outlook, forecasting 50-150 basis points of positive operating leverage, a revision from earlier expectations. This change reflects anticipated lower fixed-rate asset repricing and challenges in wealth management income.

During its 2025 Annual Meeting, Truist shareholders approved executive compensation and reappointed PricewaterhouseCoopers LLP as the independent auditor. The meeting also saw the election of directors for a one-year term. These developments underscore Truist’s strategic focus and financial performance amid market uncertainties.

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