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

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

Truist Financial has raised 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% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

NYSE TFC opened at $38.85 on Wednesday. The company has a market cap of $51.85 billion, a PE ratio of -29.43, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08. Truist Financial has a 52 week low of $25.56 and a 52 week high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm’s 50-day simple moving average is $36.76 and its two-hundred day simple moving average is $34.70.

Truist Financial (NYSE:TFC) last released 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 negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the firm earned $1.09 earnings per share. The company’s revenue was down 8.8% compared to the same quarter last year. Research analysts predict that Truist Financial will post 3.27 earnings per share for the current year.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on TFC. Barclays increased their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $42.00 in a report on Tuesday. Stephens reissued an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a report on Tuesday. Finally, StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.59.

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.