Truist Financial Corporation (NYSE:TFC) to Issue Quarterly Dividend of $0.52

Truist Financial Corporation (NYSE:TFC) announced a quarterly dividend on Tuesday, January 27th. Shareholders of record on Friday, February 13th will be paid a dividend of 0.52 per share by the insurance provider on Monday, March 2nd. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, February 13th.

Truist Financial has raised its dividend by an average of 0.0%annually over the last three years. Truist Financial has a payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Truist Financial to earn $4.55 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 45.7%.

Truist Financial Price Performance

Shares of NYSE TFC traded down $0.50 during trading hours on Wednesday, reaching $50.40. 2,722,507 shares of the stock traded hands, compared to its average volume of 9,758,904. The company has a market capitalization of $64.47 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 0.85 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.70. Truist Financial has a 52-week low of $33.56 and a 52-week high of $51.51. The company’s 50-day simple moving average is $49.00 and its two-hundred day simple moving average is $46.26.

Truist Financial (NYSE:TFC) last released its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.09). The business had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.32 billion. Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. Truist Financial’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 EPS. Equities research analysts forecast that Truist Financial will post 4 EPS for the current year.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of analyst reports. UBS Group set a $55.00 price objective on Truist Financial in a research note on Tuesday, October 21st. TD Cowen boosted their price objective on shares of Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Argus increased their target price on shares of Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. The Goldman Sachs Group restated a “buy” rating and set a $58.00 price target on shares of Truist Financial in a report on Tuesday, January 6th. Finally, Piper Sandler increased their price objective on Truist Financial from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $54.20.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.