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

Truist Financial Co. (NYSE:TFC) was the target of unusually large options trading on Wednesday. Stock investors acquired 163,742 call options on the stock. This represents an increase of 837% compared to the typical volume of 17,467 call options.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a report on Monday, April 22nd. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Jefferies Financial Group raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods upped their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Wells Fargo & Company raised their price objective on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $42.06.

Truist Financial Price Performance

Truist Financial stock traded up $0.28 during trading on Wednesday, reaching $39.39. The company had a trading volume of 6,359,070 shares, compared to its average volume of 9,393,689. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50-day simple moving average is $37.34 and its 200 day simple moving average is $35.39. The firm has a market capitalization of $52.57 billion, a PE ratio of -29.85, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07. Truist Financial has a 1-year low of $26.49 and a 1-year high of $40.35.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial will post 3.3 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders 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 dividend yield of 5.28%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

Insiders Place Their Bets

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TFC. OFI Invest Asset Management acquired a new position in shares of Truist Financial during the 3rd quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new position in Truist Financial during the first quarter worth $29,000. Operose Advisors LLC acquired a new position in Truist Financial during the third quarter worth $31,000. Missouri Trust & Investment Co grew its holdings in Truist Financial by 227.2% in the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after buying an additional 593 shares in the last quarter. Finally, Rise Advisors LLC purchased a new position in shares of Truist Financial during the 1st quarter worth $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.

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.