Truist Financial Corp

Truist Financial has selected Michael P. Lyons to lead the $549 billion-asset bank as president and CEO starting September 1, 2026, succeeding Bill Rogers in a planned transition.

Fiserv appoints Takis Georgakopoulos as CEO, replacing Mike Lyons who moves to Truist. The company reaffirms its 2026 guidance.

Major U.S. equity indices surged to new highs Friday after Iran confirmed the Strait of Hormuz would remain open during a 10-day truce, pushing oil prices lower and reviving expectations for Federal Reserve rate cuts later this year.

SoFi shares slipped to $15.75 after Truist lowered its price target to $17, citing concerns about the sustainability of its loan-platform and tech revenue.

PayPal shares remain near $45 after Truist lowered its target to $44, citing higher rewards costs and sluggish international payment volume. Q1 TPV grew 11% but Q2 guidance points to margin pressure.

PayPal shares edged up 1.5% after Truist Financial raised its price target to $45, though the stock trades above that at $50.48. The firm retained a Sell rating amid competitive pressures and a new CEO.

PayPal shares edged higher on April 24 as Truist lifted its price target to $45 while keeping a Sell rating, setting the stage for the company's first earnings report under new CEO Enrique Lores on May 5.