Truist Financial Target of Unusually High Options Trading (NYSE:TFC)

Truist Financial Co. (NYSE:TFC) was the target of unusually large options trading activity on Tuesday. Stock traders purchased 28,780 call options on the stock. This is an increase of 62% compared to the typical daily volume of 17,725 call options.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent research reports. Jefferies Financial Group increased their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. Morgan Stanley restated an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a research note on Monday. Raymond James increased their target price on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Barclays increased their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average target price of $41.59.

Truist Financial Price Performance

Shares of TFC stock traded up $0.85 during midday trading on Tuesday, reaching $38.91. 7,182,047 shares of the company were exchanged, compared to its average volume of 9,678,957. The company’s 50 day moving average price is $36.68 and its two-hundred day moving average price is $34.62. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $51.93 billion, a P/E ratio of -36.07, a PEG ratio of 2.27 and a beta of 1.08. Truist Financial has a 12 month low of $25.56 and a 12 month high of $39.29.

Truist Financial (NYSE:TFC) last released its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, sell-side analysts expect that Truist Financial will post 3.33 earnings per share for the current year.

Truist Financial Dividend Announcement

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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.35%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

Large investors have recently made changes to their positions in the business. Bleakley Financial Group LLC increased its stake in Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after purchasing an additional 1,731 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Truist Financial by 53.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after acquiring an additional 117,524 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Truist Financial by 3,359.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after acquiring an additional 1,015,338 shares during the period. Loudon Investment Management LLC lifted its position in shares of Truist Financial by 18.5% in the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock valued at $3,759,000 after acquiring an additional 20,490 shares in the last quarter. Finally, Pathstone Family Office LLC boosted its stake in Truist Financial by 84.8% in the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after purchasing an additional 44,659 shares during the period. Institutional investors own 71.28% of the company’s stock.

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.