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

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 5.36%. The ex-dividend date is Thursday, May 9th.

Truist Financial has raised its dividend 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 research analysts expect Truist Financial to earn $3.69 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 56.4%.

Truist Financial Stock Down 0.1 %

Shares of NYSE:TFC opened at $38.79 on Thursday. The company has a market capitalization of $51.77 billion, a PE ratio of -29.39, a P/E/G ratio of 2.45 and a beta of 1.08. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial has a twelve month low of $25.56 and a twelve month high of $39.29. The firm has a 50 day simple moving average of $36.83 and a 200-day simple moving average of $34.73.

Truist Financial (NYSE:TFC) last released its quarterly earnings results 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 firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. Truist Financial’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities analysts predict that Truist Financial will post 3.26 EPS for the current fiscal year.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of several research reports. Barclays upped their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Wells Fargo & Company upped their price target on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Raymond James upped their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average target price of $41.97.

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.