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

Truist Financial Co. (NYSE:TFC) declared a quarterly dividend on Tuesday, October 22nd, RTT News reports. Investors 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 by an average of 4.9% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Truist Financial has a payout ratio of 52.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 2.3 %

Shares of Truist Financial stock opened at $43.39 on Wednesday. The company has a 50 day simple moving average of $42.73 and a two-hundred day simple moving average of $40.39. The firm has a market cap of $58.06 billion, a PE ratio of -32.87, a PEG ratio of 1.83 and a beta of 1.05. Truist Financial has a 1 year low of $26.95 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year. Analysts expect that Truist Financial will post 3.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TFC. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Barclays upped their price target on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.02.

Insider Activity at Truist Financial

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