Truist Financial Corporation (NYSE:TFC – Get Free Report) was the target of unusually large options trading on Thursday. Traders acquired 13,752 call options on the stock. This represents an increase of 52% compared to the average daily volume of 9,023 call options.
Truist Financial Stock Performance
TFC stock opened at $42.63 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $39.67 and its two-hundred day simple moving average is $41.98. Truist Financial has a twelve month low of $33.56 and a twelve month high of $49.06. The firm has a market cap of $55.83 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.58 and a beta of 0.84.
Truist Financial (NYSE:TFC – Get Free Report) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.87. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same quarter last year, the firm posted $0.90 earnings per share. Analysts predict that Truist Financial will post 4 earnings per share for the current year.
Truist Financial Announces Dividend
Hedge Funds Weigh In On Truist Financial
Several institutional investors and hedge funds have recently added to or reduced their stakes in TFC. Capital International Investors boosted its holdings in Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after acquiring an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Truist Financial by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after acquiring an additional 534,740 shares in the last quarter. Amundi boosted its holdings in Truist Financial by 4.6% in the first quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock worth $1,019,477,000 after acquiring an additional 1,091,311 shares in the last quarter. Northern Trust Corp boosted its holdings in Truist Financial by 20.5% in the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock worth $626,154,000 after acquiring an additional 2,452,239 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after acquiring an additional 3,188,999 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Analyst Ratings Changes
TFC has been the subject of several recent analyst reports. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 7th. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Raymond James Financial downgraded Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Finally, Morgan Stanley lowered their target price on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.44.
Read Our Latest Research Report on Truist Financial
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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