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

Posted by Defense World Staff on Apr 26th, 2023

Truist Financial Co. (NYSE:TFC – Get Rating) saw some unusual options trading activity on Tuesday. Traders acquired 19,118 put options on the stock. This represents an increase of approximately 91% compared to the typical volume of 10,023 put options.

Truist Financial Stock Down 4.4 %

Shares of NYSE:TFC opened at $30.43 on Wednesday. Truist Financial has a 52 week low of $28.70 and a 52 week high of $53.34. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.86 and a current ratio of 0.87. The company’s fifty day moving average is $37.96 and its 200-day moving average is $42.57. The company has a market capitalization of $40.42 billion, a PE ratio of 6.83, a P/E/G ratio of 1.55 and a beta of 1.06.

Truist Financial (NYSE:TFC – Get Rating) last issued its earnings results on Thursday, April 20th. The insurance provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). Truist Financial had a net margin of 22.81% and a return on equity of 12.37%. The firm had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts predict that Truist Financial will post 4.54 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, May 12th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.84%. Truist Financial’s dividend payout ratio is 46.33%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TFC shares. Keefe, Bruyette & Woods raised shares of Truist Financial from an “underperform” rating to a “market perform” rating and reduced their price target for the stock from $47.00 to $45.00 in a research report on Sunday, March 12th. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Wednesday, March 15th. Morgan Stanley cut their price objective on shares of Truist Financial from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, April 21st. The Goldman Sachs Group cut their price objective on shares of Truist Financial from $55.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, March 30th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Truist Financial from a “buy” rating to a “hold” rating and cut their price objective for the company from $61.00 to $48.00 in a research report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.24.

Insider Activity

In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of the company’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the completion of the sale, the insider now directly owns 307,069 shares of the company’s stock, valued at $15,061,734.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of the company’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the completion of the sale, the insider now directly owns 307,069 shares of the company’s stock, valued at $15,061,734.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David M. Ratcliffe acquired 13,125 shares of Truist Financial stock in a transaction on Friday, March 10th. The shares were purchased at an average cost of $38.08 per share, with a total value of $499,800.00. Following the completion of the purchase, the director now directly owns 39,025 shares of the company’s stock, valued at approximately $1,486,072. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TFC. Nwam LLC increased its stake in shares of Truist Financial by 2.3% in the 4th quarter. Nwam LLC now owns 9,084 shares of the insurance provider’s stock valued at $391,000 after acquiring an additional 203 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of Truist Financial by 0.8% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 27,299 shares of the insurance provider’s stock valued at $1,175,000 after purchasing an additional 206 shares during the period. EPG Wealth Management LLC grew its position in shares of Truist Financial by 1.8% in the 4th quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock valued at $526,000 after purchasing an additional 213 shares during the period. Marino Stram & Associates LLC grew its position in shares of Truist Financial by 1.2% in the 4th quarter. Marino Stram & Associates LLC now owns 20,819 shares of the insurance provider’s stock valued at $896,000 after purchasing an additional 238 shares during the period. Finally, Heritage Trust Co grew its position in shares of Truist Financial by 0.6% in the 4th quarter. Heritage Trust Co now owns 42,491 shares of the insurance provider’s stock valued at $1,828,000 after purchasing an additional 238 shares during the period. 72.49% of the stock is owned by institutional investors.

About Truist Financial

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.