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

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 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Friday, February 14th.

Truist Financial has raised its dividend payment by an average of 3.8% per year over the last three years. Truist Financial has a payout ratio of 44.9% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 0.4 %

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

Truist Financial (NYSE:TFC) last released 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. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. Equities research analysts predict that Truist Financial will post 3.98 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TFC. Barclays upped their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Royal Bank of Canada lifted their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Morgan Stanley upped their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company lifted their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eleven research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Insider Buying and Selling

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