Stock Traders Purchase Large Volume of Truist Financial Call Options (NYSE:TFC)

Truist Financial Co. (NYSE:TFC) saw unusually large options trading on Monday. Stock investors bought 15,809 call options on the stock. This is an increase of approximately 84% compared to the typical volume of 8,596 call options.

Institutional Trading of Truist Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TFC. Capital International Investors raised its stake in shares of Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares during the last quarter. Norges Bank acquired a new position in Truist Financial in the 4th quarter worth approximately $402,828,000. FMR LLC raised its position in Truist Financial by 109.1% during the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock worth $453,762,000 after buying an additional 5,457,053 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Truist Financial during the 4th quarter valued at approximately $198,051,000. Finally, State Street Corp boosted its holdings in shares of Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after acquiring an additional 2,720,223 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $42.17 on Tuesday. Truist Financial has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. The company has a market cap of $55.04 billion, a PE ratio of 12.66, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The business has a 50-day simple moving average of $45.10 and a two-hundred day simple moving average of $44.45.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the business earned $0.81 EPS. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities analysts expect that Truist Financial will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TFC shares. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Piper Sandler increased their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Stephens boosted their target price 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. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

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.