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

Truist Financial Co. (NYSE:TFC) saw some unusual options trading on Tuesday. Investors bought 28,780 call options on the stock. This is an increase of approximately 62% compared to the typical daily volume of 17,725 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TFC shares. TheStreet cut Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Jefferies Financial Group increased 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. UBS Group raised their target price on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Stephens reissued an “overweight” rating and issued a $43.00 price objective on shares of Truist Financial in a report on Tuesday. Finally, HSBC raised their price objective on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average target price of $41.59.

Truist Financial Stock Up 2.1 %

TFC stock opened at $38.85 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. Truist Financial has a twelve month low of $25.56 and a twelve month high of $39.29. The company’s 50 day moving average is $36.76 and its two-hundred day moving average is $34.70. The stock has a market cap of $51.85 billion, a P/E ratio of -35.97, a PEG ratio of 2.27 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The company 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 3.28% and a positive return on equity of 9.64%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. Research analysts expect that Truist Financial will post 3.33 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. Truist Financial’s payout ratio is -192.59%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Truist Financial

A number of institutional investors have recently modified their holdings of TFC. International Assets Investment Management LLC purchased a new position in Truist Financial in the 3rd quarter valued at $831,000. Vontobel Holding Ltd. grew its position in Truist Financial by 9.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 47,504 shares of the insurance provider’s stock valued at $1,359,000 after buying an additional 3,914 shares during the last quarter. SG Americas Securities LLC grew its position in Truist Financial by 36.3% in the 3rd quarter. SG Americas Securities LLC now owns 119,510 shares of the insurance provider’s stock valued at $3,419,000 after buying an additional 31,818 shares during the last quarter. Naples Global Advisors LLC grew its position in Truist Financial by 40.4% in the 3rd quarter. Naples Global Advisors LLC now owns 10,154 shares of the insurance provider’s stock valued at $291,000 after buying an additional 2,920 shares during the last quarter. Finally, Ziegler Capital Management LLC grew its position in Truist Financial by 4.2% in the 3rd quarter. Ziegler Capital Management LLC now owns 195,144 shares of the insurance provider’s stock valued at $5,583,000 after buying an additional 7,858 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

About Truist Financial

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.