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

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

Wall Street Analysts Forecast Growth

TFC has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Raymond James boosted their price objective on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Jefferies Financial Group boosted their price objective on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. Barclays boosted their price objective on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Citigroup boosted their price objective on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $41.97.

Insider Transactions at Truist Financial

In other 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 transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Truist Financial during the first quarter worth approximately $29,000. Rise Advisors LLC bought a new stake in Truist Financial during the first quarter worth approximately $32,000. Missouri Trust & Investment Co raised its holdings in Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares in the last quarter. Northwest Financial Advisors bought a new stake in Truist Financial during the fourth quarter worth approximately $34,000. Finally, Morton Brown Family Wealth LLC raised its holdings in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $38.79 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The stock has a 50 day simple moving average of $36.83 and a 200-day simple moving average of $34.73. The company has a market cap of $51.77 billion, a PE ratio of -29.39, a P/E/G ratio of 2.39 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 issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, equities research analysts forecast that Truist Financial will post 3.27 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.36%. Truist Financial’s payout ratio is -157.58%.

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.