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

Truist Financial Co. (NYSE:TFC - Get Free Report) saw unusually large options trading on Tuesday. Traders purchased 21,465 call options on the stock. This represents an increase of 133% compared to the average volume of 9,232 call options.

Truist Financial Stock Performance

Truist Financial stock traded down $0.87 during mid-day trading on Thursday, hitting $42.24. 7,319,508 shares of the company's stock traded hands, compared to its average volume of 7,401,745. Truist Financial has a one year low of $34.51 and a one year high of $49.06. The company has a market cap of $55.13 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The firm has a 50 day moving average price of $45.79 and a 200 day moving average price of $44.67. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. The company's quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that Truist Financial will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.92%. Truist Financial's payout ratio is 62.46%.

Wall Street Analyst Weigh In

Several research firms have recently commented on TFC. Piper Sandler increased their target price on Truist Financial from $46.00 to $51.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday. 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 report on Thursday, January 16th. Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $48.00 to $52.00 in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on Truist Financial from $48.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $51.16.

Institutional Investors Weigh In On Truist Financial

Institutional investors have recently added to or reduced their stakes in the company. Bangor Savings Bank raised its stake in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock worth $25,000 after buying an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in Truist Financial in the third quarter worth about $26,000. Hopwood Financial Services Inc. acquired a new stake in Truist Financial in the 4th quarter valued at about $26,000. Navigoe LLC bought a new position in shares of Truist Financial during the 4th quarter valued at about $26,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial in the 3rd quarter worth approximately $32,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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.