Traders Purchase Large Volume of Truist Financial Call Options (NYSE:TFC)

Truist Financial Co. (NYSE:TFC) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 21,465 call options on the stock. This is an increase of 133% compared to the typical volume of 9,232 call options.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TFC shares. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Stephens upped their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Wells Fargo & Company increased their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Trading Down 2.8 %

Shares of NYSE TFC traded down $1.26 during midday trading on Tuesday, hitting $44.17. The company’s stock had a trading volume of 4,326,901 shares, compared to its average volume of 7,132,387. Truist Financial has a 12-month low of $34.51 and a 12-month high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market cap of $57.65 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The business’s 50 day moving average is $45.81 and its two-hundred day moving average is $44.68.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. As a group, equities research analysts expect that Truist Financial will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Insider Activity

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

Institutional Trading of Truist Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital International Investors raised its position in Truist Financial by 26.0% during the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after purchasing an additional 18,712,246 shares in the last quarter. Norges Bank purchased a new position in shares of Truist Financial during the fourth quarter valued at $402,828,000. FMR LLC raised its holdings in shares of Truist Financial by 109.1% in the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock valued at $453,762,000 after acquiring an additional 5,457,053 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Truist Financial in the fourth quarter worth about $198,051,000. Finally, State Street Corp increased its position in Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the period. Institutional investors own 71.28% of the company’s stock.

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.