Argyle Capital Management LLC Purchases 2,441 Shares of Truist Financial Co. (NYSE:TFC)

Argyle Capital Management LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 5.6% in the 4th quarter, HoldingsChannel reports. The fund owned 46,266 shares of the insurance provider’s stock after acquiring an additional 2,441 shares during the period. Argyle Capital Management LLC’s holdings in Truist Financial were worth $2,007,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TFC. Fort Sheridan Advisors LLC increased its position in shares of Truist Financial by 25.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 26,060 shares of the insurance provider’s stock worth $1,130,000 after purchasing an additional 5,255 shares in the last quarter. QRG Capital Management Inc. increased its position in Truist Financial by 1.2% during the 4th quarter. QRG Capital Management Inc. now owns 170,143 shares of the insurance provider’s stock valued at $7,381,000 after buying an additional 2,064 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Truist Financial in the fourth quarter valued at about $5,452,000. Oppenheimer & Co. Inc. boosted its holdings in Truist Financial by 1.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 135,290 shares of the insurance provider’s stock worth $5,869,000 after acquiring an additional 2,184 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co grew its stake in shares of Truist Financial by 12.3% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 9,744 shares of the insurance provider’s stock worth $423,000 after acquiring an additional 1,069 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on TFC shares. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Stephens boosted their price target on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Price Performance

NYSE:TFC opened at $45.75 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a 50 day moving average price of $45.72 and a 200-day moving average price of $44.58. Truist Financial Co. has a 1-year low of $34.51 and a 1-year high of $49.06. The firm has a market cap of $60.73 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the company earned $0.81 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities research analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.55%. Truist Financial’s dividend payout ratio is currently 62.46%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Truist Financial 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.