William Rogers, CEO and Chairman of
Truist Financial (TFC), recently bought 34,180 shares. The buy increased his stake by 3% and came to a total cost of $1,659,781.
Rogers was the last insider to buy with a 57,300 share pickup for just over $2.5 million back in July. Otherwise, there has been one insider sale from an EVP, totaling just under $300,000. Going further back, insiders were more likely to be buyers than sellers.
Overall, Truist insiders own 0.3% of shares.
The bank is up 41% over the past year, outperforming the S&P 500. That’s in-line with banks in general, following some big selloffs in early 2023.
Operationally, Truist has performed well, with revenues up 6%, and earnings up 23%. The bank can likely continue to see a relative outperformance, given that interest rates are starting to come down and more lending activity is expected.
Action to take: With shares in an uptrend and trading at 12 times forward earnings, Truist likely has more upside in the months ahead.
Plus, today’s investors can get a hefty 4.4% dividend from shares while waiting for capital gains.
For traders, shares are still off their all-time highs from late 2021, and may look to re-test those highs in the months ahead. The March 2025 $50 calls, last trading for about $1.12, can likely see mid-to-high double-digit gains from a continued uptrend.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any company mentioned in this article.
