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

Posted by Defense World Staff on Oct 7th, 2023

Truist Financial Co. (NYSE:TFC – Get Free Report) was the target of unusually large options trading on Friday. Investors purchased 32,737 call options on the stock. This represents an increase of approximately 210% compared to the typical daily volume of 10,549 call options.

Institutional Investors Weigh In On Truist Financial

Large investors have recently added to or reduced their stakes in the business. Fairfield Bush & CO. bought a new stake in Truist Financial during the first quarter valued at $25,000. Winch Advisory Services LLC bought a new stake in Truist Financial during the first quarter valued at $26,000. Grey Fox Wealth Advisors LLC bought a new stake in Truist Financial during the fourth quarter valued at $28,000. JFS Wealth Advisors LLC boosted its stake in Truist Financial by 617.0% during the second quarter. JFS Wealth Advisors LLC now owns 968 shares of the insurance provider’s stock valued at $29,000 after buying an additional 833 shares during the period. Finally, GW&K Investment Management LLC bought a new stake in Truist Financial during the first quarter valued at $31,000. Institutional investors own 71.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods upgraded Truist Financial from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $37.00 to $36.00 in a report on Wednesday, September 20th. Citigroup lowered their price objective on Truist Financial from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, July 24th. StockNews.com started coverage on Truist Financial in a research note on Thursday. They issued a “hold” rating for the company. Jefferies Financial Group downgraded Truist Financial from a “buy” rating to a “hold” rating and decreased their price target for the company from $37.00 to $32.00 in a research report on Tuesday, July 11th. Finally, Wells Fargo & Company decreased their price target on Truist Financial from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 21st. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.20.

Check Out Our Latest Analysis on TFC

Truist Financial Price Performance

Truist Financial stock opened at $27.32 on Friday. Truist Financial has a one year low of $25.56 and a one year high of $53.34. The business has a fifty day moving average price of $29.63 and a 200-day moving average price of $30.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $36.38 billion, a P/E ratio of 6.32, a PEG ratio of 1.64 and a beta of 1.05.

Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.08). Truist Financial had a return on equity of 11.73% and a net margin of 20.17%. The company had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.97 billion. During the same period in the previous year, the business earned $1.20 earnings per share. Truist Financial’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Truist Financial will post 3.71 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 7.61%. The ex-dividend date was Thursday, August 10th. Truist Financial’s dividend payout ratio is 48.15%.

About Truist Financial

(Get Free Report)

Truist Financial Corporation, a holding 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.