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

Truist Financial Co. (NYSE:TFC) was the recipient of some unusual options trading activity on Monday. Stock traders bought 15,809 call options on the company. This represents an increase of 84% compared to the average volume of 8,596 call options.

Analyst Ratings Changes

TFC has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Stephens boosted their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Compass Point boosted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Raymond James boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TFC. Bangor Savings Bank boosted its holdings in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the fourth quarter worth $26,000. Navigoe LLC acquired a new position in Truist Financial during the fourth quarter worth $26,000. Curio Wealth LLC acquired a new position in Truist Financial during the fourth quarter worth $45,000. Finally, True Wealth Design LLC acquired a new position in Truist Financial during the third quarter worth $51,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 2.1 %

Shares of Truist Financial stock traded up $0.86 on Monday, hitting $42.28. The company had a trading volume of 1,961,736 shares, compared to its average volume of 7,356,134. The firm has a market capitalization of $55.20 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial has a twelve month low of $35.09 and a twelve month high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a 50-day moving average of $45.12 and a 200-day moving average of $44.46.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 earnings per share. Research analysts predict that Truist Financial will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

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.