Traders Buy High Volume of Truist Financial Call Options (NYSE:TFC)

Truist Financial Co. (NYSE:TFC) was the target of some unusual options trading on Wednesday. Stock traders bought 27,369 call options on the company. This represents an increase of approximately 110% compared to the average daily volume of 13,057 call options.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. StockNews.com assumed coverage on Truist Financial in a research report on Thursday, October 5th. They set a “hold” rating for the company. Raymond James reduced their price objective on Truist Financial from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, October 5th. Wells Fargo & Company reduced their price objective on Truist Financial from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 21st. Keefe, Bruyette & Woods raised Truist Financial from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $37.00 to $36.00 in a research report on Wednesday, September 20th. Finally, Morgan Stanley reduced their price target on Truist Financial from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 3rd. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.76.

Truist Financial Stock Performance

TFC opened at $31.91 on Thursday. Truist Financial has a 12-month low of $25.56 and a 12-month high of $53.34. The stock has a market cap of $42.55 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 1.75 and a beta of 1.09. The business has a 50 day moving average of $28.81 and a 200-day moving average of $30.18. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 19th. The insurance provider reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.02). The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a return on equity of 10.74% and a net margin of 17.59%. Truist Financial’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS. On average, equities research analysts expect that Truist Financial will post 3.76 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a dividend yield of 7.4%. Truist Financial’s dividend payout ratio (DPR) is currently 52.39%.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 10,000 shares of the stock in a transaction on Friday, October 20th. The stock was bought at an average cost of $28.05 per share, for a total transaction of $280,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 412,924 shares of the company’s stock, valued at $11,582,518.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Truist Financial

A number of large investors have recently made changes to their positions in TFC. Fairfield Bush & CO. bought a new position in Truist Financial during the 1st quarter worth $25,000. Winch Advisory Services LLC bought a new position in Truist Financial during the 1st quarter worth $26,000. GW&K Investment Management LLC bought a new position in Truist Financial during the 1st quarter worth $31,000. Quarry LP bought a new position in Truist Financial during the 1st quarter worth $32,000. Finally, OFI Invest Asset Management bought a new position in Truist Financial during the 3rd quarter worth $26,000. Institutional investors own 71.11% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corporation, a holding 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.