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

Truist Financial Co. (NYSE:TFC) declared a quarterly dividend on Tuesday, October 22nd, RTT News reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.52 per share by the insurance provider on Monday, December 2nd. This represents a $2.08 annualized dividend and a dividend yield of 4.79%.

Truist Financial has raised its dividend payment by an average of 4.9% annually over the last three years and has increased its dividend every year for the last 13 years. Truist Financial has a payout ratio of 52.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Truist Financial to earn $3.92 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 53.1%.

Truist Financial Stock Up 2.3 %

Truist Financial stock traded up $0.96 during trading hours on Tuesday, hitting $43.39. The stock had a trading volume of 13,316,058 shares, compared to its average volume of 8,321,262. The stock’s 50-day moving average price is $42.70 and its 200-day moving average price is $40.35. The stock has a market capitalization of $58.06 billion, a P/E ratio of -32.77, a price-to-earnings-growth ratio of 1.83 and a beta of 1.05. Truist Financial has a 12-month low of $26.95 and a 12-month high of $45.31. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the prior year, the firm posted $0.95 EPS. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. Equities research analysts anticipate that Truist Financial will post 3.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of recent analyst reports. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Morgan Stanley raised their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Bank of America lifted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. UBS Group raised their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Hold” and an average target price of $46.02.

Insider Buying and Selling

In other news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by company 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.