I’ve read many opinions on this forum regarding the fate of Truist. Nearly all of them have displayed a lack of optimism. I too have ‘not so fuzzy feelings’ about the future. That being said, I stopped the employee purchase last year, but have kept my shares. The price is dismal, and moving further south.
Are any of you still holding TFC stock?
Nvidia made their employees millionaires with their stock plan and all I got from truist was this T-shirt.
At this point, I'd wait for another bigger company to buy Truist. Sell around the time the story is in the news otherwise it'll be a loss in the long term.
If you have invested RSU, you likely have a good job with some skills. Use it in negotiating your sign on bonus.
I have a small amount that I’m holding because I refuse to lose another penny. I thought that I heard on one of the earnings calls or business shows that the funds from insurance sale were going to a stock buyback. Anyone remember hearing this? If they do, then I’ll be done. Can’t imagine that the price will be back to where they were pre Suntrust onboarding any other way. It’s a hypocritical sh-t show.
Sold mine back in May when it teetered to 40 a share. Took a loss, but I'm okay with it. It may be a good time to buy in since it's "discounted". But it can always go down further south depending on how things pan out. I just wasn't patient enough to wait. Glhf!
Outside of ESPP and RSUs, I have no idea who would still be acquiring shares in this company. I would be dropping and advisor quickly if they put it in my portfolio while other very well run banks are out there. Look at the 5 year chart of TFC versus JPM if you want to see the extremes in bank performance
Evidently purpose doesn’t lead to performance (unless you measure performance by burning investor capital)
Case study in transfer of wealth from shareholders to “stakeholders”…primarily executives. I will also say - he’s great at giving away other people’s money and touting that as “purpose” on LinkedIn
My “stock” is stuck in unvested RSUs. I wish I could ditch it.
Smart response to a good question. Only thing I’d add is taxes….gains on stock held one year or longer is long term capital gains, vs ordinary income tax for less than one year. LTCG is usually lower than OI. For some people that’s a difference enough to hold at least to that one year mark. YMMV.
@jkl+1t37bvg4 - I appreciate that response. Unfortunately I think I’ve waited too long. I mean… I still need to get out.
PS. To the person who downvoted… why? Seriously… why?
The thing about espp is that it doesn’t matter how the company is doing. Sell immediately to realize the discount. In fact most financial advisors say to do just that, regardless of company performance, because your employment is a factor in the diversity or your portfolio. So if you are employed at a company, have RSUs and ESPP (which you hold), you would have too many eggs in one basket.
Even at the reduced 10% discount, and tax, its still a net gain worth taking advantage of.
There is also an argument that this would be a great time to get a 10% discount on an already depressed stock price and then “hodl” for the upswing.
Its always best to take emotion out of investing.