Truist Financial Co. (NYSE:TFC – Get Free Report) was the recipient of some unusual options trading activity on Thursday. Traders acquired 17,166 put options on the stock. This represents an increase of approximately 60% compared to the typical volume of 10,728 put options.
Insider Activity at Truist Financial
In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.
Institutional Investors Weigh In On Truist Financial
A number of large investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in Truist Financial during the 1st quarter worth $27,000. Opal Wealth Advisors LLC acquired a new position in Truist Financial during the 1st quarter worth $29,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial during the 2nd quarter worth $30,000. Y.D. More Investments Ltd acquired a new position in Truist Financial during the 2nd quarter worth $31,000. Finally, Rise Advisors LLC acquired a new position in Truist Financial during the 1st quarter worth $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.
Truist Financial Stock Performance
Shares of TFC stock opened at $43.67 on Friday. The company’s fifty day simple moving average is $42.67 and its 200-day simple moving average is $40.29. Truist Financial has a 52 week low of $26.95 and a 52 week high of $45.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market cap of $58.43 billion, a PE ratio of -33.08, a P/E/G ratio of 1.82 and a beta of 1.05.
Truist Financial (NYSE:TFC – Get Free Report) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. As a group, equities research analysts anticipate that Truist Financial will post 3.55 EPS for the current year.
Truist Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s payout ratio is -157.58%.
Wall Street Analysts Forecast Growth
TFC has been the subject of a number of research reports. The Goldman Sachs Group reduced their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Morgan Stanley boosted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.02.
Check Out Our Latest Stock Analysis on TFC
About Truist Financial
(Get Free Report)
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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