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

Truist Financial Co. (NYSE:TFC) saw unusually large options trading on Tuesday. Stock traders bought 28,780 call options on the stock. This represents an increase of 62% compared to the average daily volume of 17,725 call options.

Truist Financial Trading Down 0.1 %

Truist Financial stock opened at $38.79 on Thursday. The stock has a 50-day moving average of $36.83 and a two-hundred day moving average of $34.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial has a one year low of $25.56 and a one year high of $39.29. The stock has a market cap of $51.77 billion, a PE ratio of -29.39, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders 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 5.36%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Buying and Selling

In other Truist Financial 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 transaction of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Valmark Advisers Inc. increased its holdings in shares of Truist Financial by 2.2% in the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after purchasing an additional 277 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Truist Financial by 19.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock valued at $70,000 after purchasing an additional 290 shares during the period. St. Johns Investment Management Company LLC increased its holdings in shares of Truist Financial by 0.9% in the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock valued at $1,191,000 after purchasing an additional 296 shares during the period. Mechanics Financial Corp increased its holdings in shares of Truist Financial by 7.4% in the fourth quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 300 shares during the period. Finally, Day & Ennis LLC increased its holdings in shares of Truist Financial by 4.3% in the fourth quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock valued at $278,000 after purchasing an additional 311 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Jefferies Financial Group boosted their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Raymond James boosted their price target on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Thursday, January 4th. Barclays boosted their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Stephens reissued an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.97.

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.