Truist Financial Corporation TFC is slated to announce third-quarter 2020 results on Oct 15, before market open. Per the Fed’s latest data, commercial and industrial loan (C&I) balances (accounting for almost 50% of the company’s total loans and leases held for investment) declined in the third quarter as overall lending activities remained muted due to continued fears related to the coronavirus outbreak.Moreover, the Zacks Consensus Estimate for average earning assets for the to-be-reported quarter is pegged at $435.2 billion, indicating a 2.6% decline from the prior quarter’s reported figure.Thus, because of muted growth in loans along with near-zero interest rates, Truist Financial’s net interest margin (NIM) and net interest income (NII) are expected to have been hurt in the third quarter. Management anticipates NIM to be flat sequentially.The consensus estimate for NII for the to-be-reported quarter of $3.31 billion indicates a 4.1% decline sequentially.Other Key Estimates for Q3Non-interest Income: The consensus estimate for insurance commission is pegged at $513 million, indicating a fall of 11.7% sequentially. The consensus mark for income from bank-owned life insurance is $45 million, suggesting no change from the previous quarter’s reported number.The Zacks Consensus Estimate for service charges on deposits of $225 million suggests a rise of 11.4% from the prior quarter. However, the consensus estimate for operating lease income of $78 million indicates a decline of 6% from the previous quarter’s reported figure.The consensus estimate for total non-interest income of $2.03 billion points to a 16.3% decline on a sequential basis.Expenses: While the company has been witnessing a continued rise in overall expenses over the past several quarters because of investments in technology upgrades and merger integration, management anticipates core non-interest expenses (excluding merger costs and amortization) for the to-be-reported quarter to be down 1-3%.Asset Quality: The Zacks Consensus Estimate for non-performing assets is pegged at $2.04 billion, indicating a rise of 63.1% from the last quarter. Likewise, the consensus estimate for total non-accrual loans and leases of $1.33 billion suggests an increase of 12.1% from the previous quarter’s reported figure.Earnings & Sales ExpectationsThe Zacks Consensus Estimate for the company’s third-quarter earnings of 84 cents per share has moved 7.7% higher over the past seven days. However, the figure indicates a plunge of 21.5% from the year-ago reported number.The consensus estimate for sales is pegged at $5.37 billion, indicating a rise of 79% from the prior-year reported figure.Notably, management projects taxable-equivalent revenues (excluding one-time security gains from the sale of non-agency mortgage backed securities) to be down 3-5%, sequentially.Truist Financial Corporation Price and EPS Surprise Truist Financial Corporation price-eps-surprise | Truist Financial Corporation QuoteEarnings WhispersAccording to our quantitative model, chances of Truist Financial beating the Zacks Consensus Estimate this time are high. This is because it has the right combination of the two key ingredients — a positive Earnings ESP and Zacks Rank #3 (Hold) or higher.You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Earnings ESP: The Earnings ESP for Truist Financial is +6.99%.Zacks Rank: The company currently carries a Zacks Rank #3.Other Stocks That Warrant a LookHere are a few other finance stocks that you may want to consider, as our model shows that these too have the right combination of elements to post an earnings beat in their upcoming releases.U.S. Bancorp USB is scheduled to release quarterly results on Oct 14. The company has an Earnings ESP of +7.70% and it currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Bank of America BAC is scheduled to release quarterly results on Oct 14. The company has an Earnings ESP of +3.93% and it currently carries a Zacks Rank of 3.The Earnings ESP for The Bank of New York Mellon Corporation BK is +1.97% and it carries a Zacks Rank of 3, at present. The company is slated to report quarterly numbers on Oct 16.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot stocks we're targeting >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report U.S. Bancorp (USB): Free Stock Analysis Report Bank of America Corporation (BAC): Free Stock Analysis Report The Bank of New York Mellon Corporation (BK): Free Stock Analysis Report Truist Financial Corporation (TFC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research