Truist Financial Target of Unusually Large Options Trading (NYSE:TFC)

Truist Financial Co. (NYSE:TFC) was the recipient of unusually large options trading on Tuesday. Stock traders bought 21,465 call options on the stock. This is an increase of 133% compared to the typical volume of 9,232 call options.

Analysts Set New Price Targets

TFC has been the subject of several recent analyst reports. Stephens boosted their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Morgan Stanley upped their price target on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group raised their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their target price on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Finally, StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

Large investors have recently bought and sold shares of the business. Bangor Savings Bank grew its position in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Truist Financial during the 3rd quarter worth $26,000. Hopwood Financial Services Inc. acquired a new position in Truist Financial in the 4th quarter valued at about $26,000. Navigoe LLC purchased a new position in Truist Financial in the fourth quarter worth approximately $26,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Truist Financial during the 3rd quarter worth $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

TFC traded down $1.26 during midday trading on Tuesday, hitting $44.17. 4,326,901 shares of the company were exchanged, compared to its average volume of 7,132,387. The company’s 50 day simple moving average is $45.81 and its 200 day simple moving average is $44.68. The firm has a market capitalization of $57.65 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial has a 1-year low of $34.51 and a 1-year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. As a group, sell-side analysts predict that Truist Financial will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.71%. Truist Financial’s payout ratio is 62.46%.

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.