Argent Trust Co Has $6.19 Million Stock Position in Truist Financial Co. (NYSE:TFC)

Argent Trust Co lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,395 shares of the insurance provider’s stock after selling 3,100 shares during the quarter. Argent Trust Co’s holdings in Truist Financial were worth $6,193,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TFC. Crewe Advisors LLC acquired a new position in shares of Truist Financial during the first quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Truist Financial during the first quarter valued at $29,000. MFA Wealth Advisors LLC acquired a new position in shares of Truist Financial during the second quarter valued at $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial during the second quarter valued at $31,000. Finally, Rise Advisors LLC acquired a new position in shares of Truist Financial during the first quarter valued at $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the transaction, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the purchase, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $41.88 on Wednesday. The stock has a 50 day moving average price of $42.67 and a 200 day moving average price of $39.44. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $45.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $56.08 billion, a PE ratio of -31.73, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. Analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.97%. Truist Financial’s payout ratio is -157.58%.

Wall Street Analysts Forecast Growth

TFC has been the topic of several research reports. Barclays upped their price target on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group upped their price objective on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Argus upped their price objective on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Finally, Bank of America upped their price objective on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.45.

Truist Financial Company Profile

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.