Truist Financial Corporation Plans Quarterly Dividend of $0.52 (NYSE:TFC)

Truist Financial Corporation (NYSE:TFC) announced a quarterly dividend on Tuesday, April 28th. Stockholders of record on Friday, May 8th will be paid a dividend of 0.52 per share by the insurance provider on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, May 8th.

Truist Financial has raised its dividend payment by an average of 0.0%annually over the last three years. Truist Financial has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Truist Financial to earn $5.12 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 40.6%.

Truist Financial Trading Down 0.2%

Shares of Truist Financial stock opened at $51.12 on Wednesday. Truist Financial has a 1 year low of $37.51 and a 1 year high of $56.19. The firm has a market cap of $63.45 billion, a PE ratio of 12.69, a P/E/G ratio of 0.88 and a beta of 0.89. The stock has a fifty day moving average price of $48.14 and a 200-day moving average price of $48.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period last year, the firm posted $0.87 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Truist Financial will post 4.52 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on TFC shares. Raymond James Financial increased their price target on Truist Financial from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Barclays downgraded Truist Financial from an “equal weight” rating to an “underweight” rating and increased their price target for the stock from $47.00 to $56.00 in a research note on Monday, January 5th. Evercore reiterated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Jefferies Financial Group reiterated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Finally, Weiss Ratings upgraded Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 17th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average target price of $55.41.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.