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

Truist Financial Corporation (NYSE:TFC - Get Free Report) was the target of unusually large options trading on Thursday. Stock traders purchased 13,752 call options on the stock. This is an increase of approximately 52% compared to the typical volume of 9,023 call options.

Truist Financial Stock Up 2.0%

Shares of Truist Financial stock traded up $0.82 during trading hours on Thursday, hitting $42.22. 2,027,234 shares of the company's stock traded hands, compared to its average volume of 8,248,292. Truist Financial has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a market cap of $55.29 billion, a PE ratio of 12.46, a PEG ratio of 1.54 and a beta of 0.84. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $39.40 and a 200-day simple moving average of $42.04.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates of $0.87. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the firm earned $0.90 EPS. Equities research analysts anticipate that Truist Financial will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio is presently 61.36%.

Institutional Trading of Truist Financial

Institutional investors and hedge funds have recently modified their holdings of the business. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Truist Financial during the 1st quarter worth approximately $1,982,000. First Hawaiian Bank grew its position in Truist Financial by 8.6% in the 1st quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider's stock worth $493,000 after purchasing an additional 948 shares during the last quarter. Hodges Capital Management Inc. increased its stake in shares of Truist Financial by 32.7% in the first quarter. Hodges Capital Management Inc. now owns 36,321 shares of the insurance provider's stock valued at $1,495,000 after purchasing an additional 8,954 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Truist Financial by 35.6% in the first quarter. Jones Financial Companies Lllp now owns 1,137,797 shares of the insurance provider's stock valued at $46,049,000 after purchasing an additional 298,907 shares during the period. Finally, Strs Ohio bought a new stake in shares of Truist Financial during the first quarter valued at approximately $32,677,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TFC shares. Barclays cut their target price on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Robert W. Baird upgraded 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 report on Wednesday, March 5th. Morgan Stanley lowered their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Finally, TD Cowen assumed coverage on Truist Financial in a research report on Thursday, May 15th. They set a "hold" rating and a $44.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has an average rating of "Moderate Buy" and an average target price of $48.44.

About Truist Financial

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.

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