Argyle Capital Management Inc. Has $1.56 Million Holdings in Truist Financial Co. (NYSE:TFC)

Argyle Capital Management Inc. lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 19.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 42,150 shares of the insurance provider’s stock after selling 9,900 shares during the quarter. Argyle Capital Management Inc.’s holdings in Truist Financial were worth $1,556,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TFC. OFI Invest Asset Management acquired a new stake in shares of Truist Financial during the 3rd quarter worth approximately $26,000. Operose Advisors LLC acquired a new stake in shares of Truist Financial during the 3rd quarter worth approximately $31,000. Tyler Stone Wealth Management acquired a new stake in shares of Truist Financial during the 3rd quarter worth approximately $33,000. Morton Brown Family Wealth LLC grew its position in Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 649 shares during the period. Finally, Authentikos Wealth Advisory LLC acquired a new stake in Truist Financial in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on TFC shares. Stephens reissued an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a research report on Tuesday, April 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a research report on Monday, April 22nd. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Raymond James lifted their price target on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Finally, TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $41.97.

Truist Financial Stock Performance

Shares of NYSE TFC traded up $0.20 during mid-day trading on Friday, reaching $38.17. 4,651,351 shares of the company’s stock were exchanged, compared to its average volume of 8,494,242. The firm has a market capitalization of $50.94 billion, a price-to-earnings ratio of -28.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50-day moving average price of $36.90 and a two-hundred day moving average price of $34.90.

Truist Financial (NYSE:TFC) last released its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 EPS. Analysts predict that Truist Financial Co. will post 3.27 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

About Truist Financial

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.