Truist Financial Co. (NYSE:TFC – Get Free Report) was the recipient of some unusual options trading on Wednesday. Investors bought 163,742 call options on the company. This represents an increase of approximately 837% compared to the typical daily volume of 17,467 call options.
Truist Financial Stock Performance
Shares of NYSE:TFC opened at $39.39 on Thursday. The company has a market cap of $52.57 billion, a P/E ratio of -29.84, a PEG ratio of 2.03 and a beta of 1.07. Truist Financial has a one year low of $26.49 and a one year high of $40.35. The business’s 50-day simple moving average is $37.34 and its 200 day simple moving average is $35.39. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.
Truist Financial (NYSE:TFC – Get Free Report) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 earnings per share. On average, sell-side analysts forecast that Truist Financial will post 3.3 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
Insider Buying and Selling at Truist Financial
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 transaction of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is owned by insiders.
Institutional Trading of Truist Financial
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Truist Financial by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after acquiring an additional 365,871 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Truist Financial by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock valued at $690,793,000 after buying an additional 1,458,248 shares during the last quarter. Royal Bank of Canada raised its stake in Truist Financial by 5.0% during the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after buying an additional 732,801 shares in the last quarter. Morgan Stanley lifted its holdings in Truist Financial by 0.3% during the 3rd quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock worth $439,568,000 after buying an additional 39,510 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Truist Financial by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock worth $322,395,000 after acquiring an additional 883,416 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms recently weighed in on TFC. Keefe, Bruyette & Woods increased their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. HSBC boosted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday. Citigroup increased their price target on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.06.
View Our Latest Stock Analysis on TFC
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.
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