Truist Financial Co. (NYSE:TFC – Get Free Report) saw unusually large options trading on Wednesday. Traders acquired 44,122 call options on the stock. This represents an increase of approximately 221% compared to the average daily volume of 13,761 call options.
Insider Transactions at Truist Financial
In other Truist Financial news, CEO William H. Rogers, Jr. bought 10,000 shares of Truist Financial stock in a transaction dated Friday, October 20th. The stock was purchased at an average price of $28.05 per share, for a total transaction of $280,500.00. Following the completion of the purchase, the chief executive officer now directly owns 412,924 shares of the company’s stock, valued at $11,582,518.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by corporate insiders.
Institutional Trading of Truist Financial
Several hedge funds and other institutional investors have recently bought and sold shares of TFC. Edmp Inc. grew its holdings in Truist Financial by 17.4% in the 2nd quarter. Edmp Inc. now owns 77,342 shares of the insurance provider’s stock worth $2,347,000 after acquiring an additional 11,458 shares during the last quarter. Level Four Advisory Services LLC raised its position in Truist Financial by 19.2% during the 2nd quarter. Level Four Advisory Services LLC now owns 113,783 shares of the insurance provider’s stock valued at $3,453,000 after purchasing an additional 18,337 shares during the last quarter. 1834 Investment Advisors Co. lifted its holdings in Truist Financial by 122.1% in the 1st quarter. 1834 Investment Advisors Co. now owns 138,195 shares of the insurance provider’s stock worth $4,712,000 after buying an additional 75,984 shares during the period. Keybank National Association OH raised its holdings in shares of Truist Financial by 1.1% during the second quarter. Keybank National Association OH now owns 116,752 shares of the insurance provider’s stock valued at $3,543,000 after acquiring an additional 1,289 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC purchased a new stake in Truist Financial in the first quarter worth $547,000. Institutional investors own 71.11% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on TFC shares. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price objective on shares of Truist Financial in a report on Tuesday, September 12th. Evercore ISI raised their price objective on shares of Truist Financial from $31.00 to $33.00 and gave the company an “in-line” rating in a research report on Monday, November 20th. Bank of America decreased their target price on shares of Truist Financial from $35.00 to $32.00 in a report on Tuesday, October 10th. Raymond James cut their price target on shares of Truist Financial from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, October 5th. Finally, Jefferies Financial Group decreased their price target on shares of Truist Financial from $31.00 to $28.00 in a report on Tuesday, October 10th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and an average price target of $37.41.
Read Our Latest Stock Analysis on Truist Financial
Truist Financial Price Performance
NYSE:TFC traded up $0.48 during mid-day trading on Wednesday, reaching $33.63. The stock had a trading volume of 4,003,856 shares, compared to its average volume of 11,461,954. Truist Financial has a one year low of $25.56 and a one year high of $53.34. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a 50 day moving average price of $29.68 and a two-hundred day moving average price of $30.55. The stock has a market capitalization of $44.85 billion, a P/E ratio of 8.47, a P/E/G ratio of 1.98 and a beta of 1.12.
Truist Financial (NYSE:TFC – Get Free Report) last released its earnings results on Thursday, October 19th. The insurance provider reported $0.80 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.02). The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a net margin of 17.59% and a return on equity of 10.74%. Truist Financial’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 EPS. As a group, analysts expect that Truist Financial will post 3.76 earnings per share for the current year.
Truist Financial Announces Dividend
The business also recently announced a special dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were issued a dividend of $0.52 per share. This represents a yield of 7.4%. The ex-dividend date of this dividend was Thursday, November 9th. Truist Financial’s dividend payout ratio is presently 52.39%.
Truist Financial Company Profile
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.
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