Truist Financial Co. (TFC) to Issue Quarterly Dividend of $0.52 on March 3rd

Truist Financial Co. (NYSE:TFC) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.52 per share by the insurance provider on Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 4.39%. The ex-dividend date is Friday, February 14th.

Truist Financial has increased its dividend payment by an average of 3.8% annually over the last three years. Truist Financial has a payout ratio of 44.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Truist Financial to earn $4.54 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 45.8%.

Truist Financial Price Performance

Shares of NYSE TFC opened at $47.36 on Wednesday. The firm has a market cap of $62.87 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The business’s 50 day moving average is $45.53 and its 200-day moving average is $44.28. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial has a 1-year low of $34.23 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the business posted $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts predict that Truist Financial will post 3.98 earnings per share for the current year.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on TFC shares. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. UBS Group raised their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Citigroup upped their target price on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Stephens raised their price target on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

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.