Down 30% This Year, Is Truist a Buy Before 2023?
The super-regional bank Truist Financial Group (NYSE: TFC) has widely underperformed its peers this year, with its stock down more than 30%, compared to the SPDR S&P Regional Banking ETF only down about 16.8% this year.
Truist is a result of the large merger of equals between SunTrust and BB&T, which created a bank with more than $548 billion of assets.
I feel like Truist gets a lot less attention in the media than some of the other large banks out there, which could be due to the complexity of analyzing the new bank as it's gone through this big merger in recent years. Still, the bank continues to trade at a very high valuation. Is the stock a buy before 2023? Let's take a look.
Source Fool.com
