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. Shareholders 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 yield of 5.33%.

Truist Financial has raised its dividend by an average of 4.9% per year over the last three years. Truist Financial has a dividend payout ratio of 53.9% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 2.4 %

TFC stock traded up $0.93 during midday trading on Tuesday, hitting $38.99. The company had a trading volume of 6,144,024 shares, compared to its average volume of 9,666,761. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. Truist Financial has a 52 week low of $25.56 and a 52 week high of $39.29. The stock’s 50 day moving average price is $36.68 and its 200 day moving average price is $34.62. The stock has a market cap of $52.04 billion, a price-to-earnings ratio of -36.07, a PEG ratio of 2.27 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. 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 previous year, the company posted $1.09 earnings per share. The business’s revenue was down 8.8% on a year-over-year basis. As a group, equities research analysts expect that Truist Financial will post 3.33 earnings per share for the current fiscal year.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly 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 is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TFC. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Barclays upped their target price on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Wells Fargo & Company upped their target price on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a report on Thursday, January 4th. Finally, Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $42.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $41.59.

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.