Investors Buy Large Volume of Truist Financial Call Options (NYSE:TFC)

Truist Financial Co. (NYSE:TFC) was the target of unusually large options trading on Friday. Stock investors purchased 16,975 call options on the company. This is an increase of approximately 82% compared to the typical daily volume of 9,321 call options.

Truist Financial Stock Up 5.9 %

Shares of Truist Financial stock opened at $47.63 on Friday. The company’s 50 day moving average price is $45.36 and its 200-day moving average price is $43.48. Truist Financial has a 52-week low of $34.23 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $63.23 billion, a price-to-earnings ratio of -33.31, a P/E/G ratio of 1.67 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5,047,370 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 EPS. Equities research analysts forecast that Truist Financial will post 3.61 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday. The Goldman Sachs Group increased their price target on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada raised their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Compass Point raised their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $49.95.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s 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 of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Truist Financial

Several institutional investors and hedge funds have recently bought and sold shares of TFC. Cerro Pacific Wealth Advisors LLC raised its holdings in shares of Truist Financial by 5.1% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 18,982 shares of the insurance provider’s stock valued at $812,000 after acquiring an additional 927 shares in the last quarter. Avior Wealth Management LLC raised its holdings in Truist Financial by 41.8% in the 4th quarter. Avior Wealth Management LLC now owns 6,289 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 1,855 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of Truist Financial by 16.3% in the 4th quarter. Mutual Advisors LLC now owns 36,483 shares of the insurance provider’s stock worth $1,641,000 after purchasing an additional 5,103 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Truist Financial by 0.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 969,022 shares of the insurance provider’s stock worth $42,036,000 after purchasing an additional 3,378 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Truist Financial by 1,028.0% during the fourth quarter. SG Americas Securities LLC now owns 456,816 shares of the insurance provider’s stock valued at $19,817,000 after buying an additional 416,317 shares during the period. Hedge funds and other institutional investors 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.