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

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

Truist Financial Stock Performance

TFC traded up $0.86 during trading on Monday, hitting $42.28. The stock had a trading volume of 1,961,736 shares, compared to its average volume of 7,356,134. The firm has a market cap of $55.20 billion, a PE ratio of 12.70, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial has a 12 month low of $35.09 and a 12 month high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a 50 day simple moving average of $45.12 and a 200-day simple moving average of $44.46.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. Analysts expect that Truist Financial will post 4 EPS for the current year.

Truist Financial Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently weighed in on TFC shares. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Compass Point raised their price objective 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. Piper Sandler raised 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. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, Citigroup increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.16.

Institutional Trading of Truist Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PBMares Wealth Management LLC boosted its position in shares of Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after acquiring an additional 224 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in shares of Truist Financial by 2.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after acquiring an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of Truist Financial by 3.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after acquiring an additional 227 shares in the last quarter. FWG Holdings LLC boosted its position in shares of Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after acquiring an additional 234 shares in the last quarter. Finally, Ignite Planners LLC boosted its position in shares of Truist Financial by 1.4% during the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after acquiring an additional 246 shares in the last quarter. 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.