Truist Financial Co. (TFC) To Go Ex-Dividend on May 9th

Truist Financial Co. (NYSE:TFC) announced 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 dividend yield of 5.36%. The ex-dividend date of this dividend 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 payout ratio of 53.9% meaning its dividend is sufficiently covered by earnings. Equities 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 %

NYSE TFC opened at $38.79 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial has a 1 year low of $25.56 and a 1 year high of $39.29. The business’s 50-day moving average is $36.83 and its 200 day moving average is $34.73. The stock has a market capitalization of $51.77 billion, a PE ratio of -29.39, a PEG ratio of 2.45 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, topping 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 during the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the business posted $1.09 earnings per share. Truist Financial’s quarterly revenue was down 8.8% compared to the same quarter last year. Sell-side analysts forecast that Truist Financial will post 3.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TFC shares. Royal Bank of Canada lifted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a report on Monday. Raymond James lifted their target price on shares of Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Finally, Citigroup boosted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.97.

Insider Activity at Truist Financial

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 shares were 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 filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by corporate insiders.

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.