Truist Financial Co. (NYSE:TFC) Announces $0.52 Quarterly Dividend

Truist Financial Co. (NYSE:TFC) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Stockholders of record on Friday, May 10th will be paid a dividend of 0.52 per share by the insurance provider on Monday, June 3rd. This represents a $2.08 annualized dividend and a dividend yield of 5.35%.

Truist Financial has increased its dividend payment by an average of 4.9% annually over the last three years. Truist Financial has a dividend payout ratio of 53.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Truist Financial to earn $3.67 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 56.7%.

Truist Financial Stock Performance

Shares of TFC opened at $38.85 on Wednesday. Truist Financial has a 12 month low of $25.56 and a 12 month high of $39.29. The stock has a fifty day moving average price of $36.76 and a 200-day moving average price of $34.70. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm has a market cap of $51.85 billion, a PE ratio of -29.43, a P/E/G ratio of 2.39 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the business posted $1.09 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities research analysts predict that Truist Financial will post 3.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TFC. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Morgan Stanley restated an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Monday. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a research note on Tuesday. Piper Sandler raised their target price on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Finally, Keefe, Bruyette & Woods raised their target price on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $41.59.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

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.