Investors Purchase High Volume of Call Options on Truist Financial (NYSE:TFC)

Truist Financial Co. (NYSE:TFC) saw some unusual options trading on Wednesday. Traders acquired 163,742 call options on the company. This is an increase of approximately 837% compared to the typical daily volume of 17,467 call options.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s 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 transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bleakley Financial Group LLC raised its stake in Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after purchasing an additional 1,731 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Truist Financial by 53.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after buying an additional 117,524 shares in the last quarter. Natixis Advisors L.P. raised its holdings in Truist Financial by 30.9% in the 4th quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock valued at $13,783,000 after acquiring an additional 88,035 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Truist Financial by 3,359.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after acquiring an additional 1,015,338 shares during the period. Finally, Loudon Investment Management LLC increased its position in shares of Truist Financial by 18.5% in the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after purchasing an additional 20,490 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TFC shares. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Wells Fargo & Company lifted 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. Citigroup raised their target price on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, UBS Group raised their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.06.

Truist Financial Stock Up 0.7 %

Truist Financial stock opened at $39.39 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50-day moving average is $37.34 and its 200-day moving average is $35.39. The firm has a market capitalization of $52.57 billion, a PE ratio of -29.84, a P/E/G ratio of 2.03 and a beta of 1.07. Truist Financial has a fifty-two week low of $26.49 and a fifty-two week high of $40.35.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results 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 firm had revenue of $4.87 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 earnings per share. Sell-side analysts anticipate that Truist Financial will post 3.3 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is presently -157.58%.

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.