Truist Financial Sees Unusually High Options Volume (NYSE:TFC)

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

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research reports. Raymond James lifted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Citigroup raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, Piper Sandler upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Stock Performance

Shares of TFC stock opened at $43.75 on Wednesday. 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 has a 12-month low of $34.51 and a 12-month high of $49.06. The business’s 50 day moving average is $45.81 and its two-hundred day moving average is $44.69. The company has a market capitalization of $57.10 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS. Analysts expect that Truist Financial will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.75%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TFC. Bangor Savings Bank raised its holdings in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Truist Financial in the third quarter worth approximately $26,000. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial during the fourth quarter worth approximately $26,000. Navigoe LLC purchased a new position in Truist Financial in the 4th quarter valued at $26,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Truist Financial in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

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.