Investors Buy Large Volume of Truist Financial Put Options (NYSE:TFC)

Truist Financial Co. (NYSE:TFC) was the target of some unusual options trading activity on Thursday. Stock investors purchased 17,166 put options on the company. This is an increase of approximately 60% compared to the average volume of 10,728 put options.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the acquisition, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Crewe Advisors LLC bought a new position in Truist Financial during the first quarter valued at approximately $27,000. Opal Wealth Advisors LLC bought a new position in shares of Truist Financial during the 1st quarter valued at $29,000. MFA Wealth Advisors LLC purchased a new position in shares of Truist Financial in the 2nd quarter worth $30,000. Y.D. More Investments Ltd purchased a new stake in Truist Financial during the second quarter valued at $31,000. Finally, Rise Advisors LLC bought a new position in Truist Financial in the first quarter valued at about $32,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 1.9 %

TFC stock traded down $0.85 during trading on Thursday, hitting $43.68. 4,868,945 shares of the stock traded hands, compared to its average volume of 8,263,321. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $58.45 billion, a price-to-earnings ratio of -33.72, a price-to-earnings-growth ratio of 1.78 and a beta of 1.05. Truist Financial has a 1 year low of $26.95 and a 1 year high of $45.31. The firm’s 50 day moving average is $42.61 and its two-hundred day moving average is $40.23.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 EPS. On average, sell-side analysts anticipate that Truist Financial will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.76%. Truist Financial’s payout ratio is -157.58%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TFC. Morgan Stanley increased their price objective on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada lifted their price target on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Barclays boosted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group dropped their target price on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.97.

Truist Financial Company Profile

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.