Truist Financial Sees Unusually Large Options Volume (NYSE:TFC)

Truist Financial Co. (NYSE:TFC – Get Rating) was the recipient of unusually large options trading activity on Wednesday. Investors bought 18,742 call options on the stock. This represents an increase of approximately 322% compared to the average volume of 4,439 call options.

Truist Financial Trading Up 0.7 %

TFC stock opened at $32.10 on Thursday. The business has a fifty day moving average price of $46.38 and a 200 day moving average price of $45.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.80. Truist Financial has a fifty-two week low of $30.51 and a fifty-two week high of $61.10. The stock has a market capitalization of $42.63 billion, a price-to-earnings ratio of 7.25, a P/E/G ratio of 1.01 and a beta of 1.10.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $2.08 annualized dividend and a yield of 6.48%. Truist Financial’s payout ratio is 46.95%.

Analyst Ratings Changes

Several research firms have recently issued reports on TFC. Deutsche Bank Aktiengesellschaft downgraded shares of Truist Financial from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $61.00 to $48.00 in a report on Friday, January 6th. Jefferies Financial Group upgraded Truist Financial from a “hold” rating to a “buy” rating in a research report on Monday, January 9th. Stephens cut Truist Financial from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective on the stock. in a research report on Tuesday, January 31st. TheStreet upgraded Truist Financial from a “c+” rating to a “b-” rating in a research report on Monday, January 23rd. Finally, Wells Fargo & Company lowered their price objective on Truist Financial to $57.00 in a research report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $51.58.

Insider Buying and Selling

In other news, Director David M. Ratcliffe bought 13,125 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The shares were purchased at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the acquisition, the director now directly owns 39,025 shares of the company’s stock, valued at approximately $1,486,072. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Hugh S. Cummins III sold 35,229 shares of Truist Financial stock in a transaction on Friday, January 27th. The shares were sold at an average price of $49.05, for a total value of $1,727,982.45. Following the transaction, the insider now owns 307,069 shares in the company, valued at approximately $15,061,734.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David M. Ratcliffe bought 13,125 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The stock was purchased at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the acquisition, the director now directly owns 39,025 shares in the company, valued at $1,486,072. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

Institutional investors have recently bought and sold shares of the business. Fairfield Bush & CO. bought a new position in Truist Financial in the 1st quarter valued at $25,000. Elequin Securities LLC bought a new position in Truist Financial in the 4th quarter valued at $26,000. Newbridge Financial Services Group Inc. raised its position in Truist Financial by 555.8% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 623 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 528 shares during the last quarter. Webster Bank N. A. raised its position in Truist Financial by 88.5% in the 3rd quarter. Webster Bank N. A. now owns 639 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 300 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC bought a new position in Truist Financial in the 4th quarter valued at $28,000. Institutional investors own 72.49% of the company’s stock.

Truist Financial Company Profile

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.