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NIM compression and lower 2026 NII guidance create near-term headwinds, evidenced by a ~2% price drop after the update; banks often see price pressure when NII guidance is reduced, despite buyback plans.
What happened, with direct paths to the underlying reporting
Truist posted solid quarterly results, with NII growth driven by wholesale banking and higher AUM, but NIM fell to 2.98% amid higher funding costs and wider loan spreads. Management cut 2026 NII guidance to 1%-1.5% while reaffirming a $5 billion buyback target, signaling ongoing capital discipline despite revenue headwinds. The stock declined about 2% on the update.
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