Truist Had a Disappointing Quarter, but the Stock Is Still a Buy for This 1 Reason

Truist Financial (NYSE: TFC), the seventh-largest bank in the U.S. by assets, had a disappointing first quarter of the year, missing earnings estimates on the bottom line and lowering guidance for the year. Like many banks, Truist is experiencing pressure on the funding side and the stock price is down close to 28% this year. While the near-term outlook remains challenging, I continue to view Truist as a buy for a reason I'll outline below.