Truist Financial Target of Unusually High Options Trading (NYSE:TFC)

Truist Financial Co. (NYSE:TFC) was the target of unusually large options trading on Monday. Stock traders bought 19,642 call options on the company. This represents an increase of 37% compared to the typical volume of 14,363 call options.

Hedge Funds Weigh In On Truist Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC acquired a new position in shares of Truist Financial during the first quarter valued at $27,000. Opal Wealth Advisors LLC acquired a new position in Truist Financial in the first quarter valued at about $29,000. Rise Advisors LLC acquired a new stake in shares of Truist Financial during the first quarter worth about $32,000. Missouri Trust & Investment Co raised its position in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 593 shares during the period. Finally, Northwest Financial Advisors acquired a new stake in shares of Truist Financial during the fourth quarter worth about $34,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE:TFC traded up $1.38 on Monday, hitting $43.79. The company’s stock had a trading volume of 7,404,305 shares, compared to its average volume of 8,510,417. Truist Financial has a 12 month low of $26.57 and a 12 month high of $43.99. The company has a market capitalization of $58.60 billion, a price-to-earnings ratio of -33.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.07. The stock’s 50-day moving average is $38.38 and its two-hundred day moving average is $37.52. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.16. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 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 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS. On average, equities research analysts forecast that Truist Financial will post 3.44 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were given a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.75%. Truist Financial’s dividend payout ratio is currently -157.58%.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target on shares of Truist Financial in a report on Thursday, May 9th. Barclays started coverage on Truist Financial in a research report on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 price objective on the stock. Jefferies Financial Group boosted their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $42.00 in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.28.

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.