Truist stock forecast
Truist's weighted case reaches $54.01 by October 2029, a 28% return with dividends. It hinges on deposit pricing and mix.
Where could Truist's shares be by October 2029?
The forecast's weighted price is $47.81 in October 2027, a 6% return with dividends. It reaches $50.42 in October 2028, a 16% return. By October 2029, it reaches $54.01, a 28% return.
The October 2029 range runs from $33.23 in the bear case to $80.45 in the bull case. Today's reference price is $47.07. The probabilities are 30% bear, 50% base and 20% bull.
| Case | Probability | October 2027 | October 2028 | October 2029 |
|---|---|---|---|---|
| Bear | 30 % | 39.54 (-12 %) | 36.13 (-15 %) | 33.23 (-17 %) |
| Base | 50 % | 49.19 (+9 %) | 52.10 (+20 %) | 55.89 (+33 %) |
| Bull | 20 % | 56.79 (+25 %) | 67.64 (+53 %) | 80.45 (+85 %) |
| Weighted | 100 % | 47.81 (+6 %) | 50.42 (+16 %) | 54.01 (+28 %) |
What this means. The weighted row is the probability-based average of the bear, base, and bull outcomes, not a separate forecast.
What has to go right or wrong for Truist?
Book value starts at $56,061 million. The base case dips to $55,961 million in October 2027, then rises to $56,161 million and $56,661 million. The bear case falls to $49,961 million by October 2029, while the bull case rises to $62,061 million. The base path reflects earnings growth offset by distributions; the bear adds stress losses; the bull assumes stronger recurring earnings and moderated buybacks. Common equity has moved sharply in recent years, and 2025 ROTCE of 12.7% remains below the 15% 2027 goal.
The bull case begins at $56.79 and reaches $80.45, with a 20% probability. Faster funding-cost relief, stable deposits, stronger payments and wealth fees, controlled credit and delivery against the return target would support both higher book value and a 1.30-times multiple. The opportunity is substantial, but it depends on several linked outcomes while current ROTCE remains below the 2027 goal.
How much cash does Truist really make?
Free cash flow is not cleanly defined for a bank because loans and deposits are operating assets and funding. The current ratio has the same problem: bank balance sheets do not divide neatly into industrial-style current assets and liabilities.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| EPS, diluted | 3.82 | -0.30 | -1.40 | 4.07 | 4.13 |
| − Dividends, per diluted share (calculated) | 2.05 | 2.08 | 2.08 | 1.98 | 1.84 |
| − Share buybacks, per share | 1.92 | 0.75 | 0.00 | 0.19 | 1.20 |
| = Kept, per share | 1.90 | 1.09 | |||
| = Paid out more, per share | 0.15 | 3.13 | 3.48 |
What this means. “Paid out more” means the company returned more money to shareholders through dividends and share buybacks than it earned that year.
What does an investor pay for Truist today?
| Today (Oct 17, 2026) | |
|---|---|
| Share price | 47.07 |
| P/E, last 12 months (calculated) | 12.1x |
| P/E, next 12 months (calculated) | 10.0x |
| Price to book (calculated) | 1.0x |
| Price to tangible book (calculated) | 1.5x |
| Dividend yield (calculated) | 4.4% |
What this means. The next-year price-to-earnings number uses analysts’ guesses about future profit, so it may be wrong.