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

Truist Financial Co. (NYSE:TFC) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Stockholders 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 dividend yield of 4.40%.

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 45.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Truist Financial to earn $4.48 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 46.4%.

Truist Financial Trading Down 0.8 %

Shares of TFC opened at $47.25 on Wednesday. The firm has a market capitalization of $62.72 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 1.67 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 has a 1-year low of $34.23 and a 1-year high of $49.06. The company has a 50-day moving average of $45.51 and a 200 day moving average of $44.00.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. On average, research analysts expect that Truist Financial will post 3.95 EPS for the current year.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price 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 $33,576,860.56. This trade represents a 5.20 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now 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 insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. UBS Group increased their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Morgan Stanley raised their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company upped their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Citigroup upped their target price on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average target price of $50.79.

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.