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

Truist Financial Co. (NYSE:TFC) declared a quarterly dividend on Tuesday, April 23rd, RTT News reports. Investors 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 5.33%.

Truist Financial has increased its dividend 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. Equities research analysts expect Truist Financial to earn $3.73 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 55.8%.

Truist Financial Stock Up 2.4 %

TFC stock traded up $0.93 during mid-day trading on Tuesday, hitting $38.99. 6,144,024 shares of the company were exchanged, compared to its average volume of 9,666,761. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $52.04 billion, a P/E ratio of -36.07, a P/E/G ratio of 2.27 and a beta of 1.08. The firm’s 50 day simple moving average is $36.68 and its 200 day simple moving average is $34.62. Truist Financial has a 1-year low of $25.56 and a 1-year high of $39.29.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. On average, sell-side analysts predict that Truist Financial will post 3.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. HSBC lifted their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $44.00 to $45.00 and gave the company 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.59.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by company insiders.

Truist Financial Company Profile

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.