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. 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 annualized dividend and a dividend yield of 4.40%.

Truist Financial has raised its dividend by an average of 3.8% per year over the last three years. Truist Financial has a dividend payout ratio of 45.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.8 %

NYSE:TFC traded down $0.37 on Tuesday, hitting $47.25. The stock had a trading volume of 3,847,563 shares, compared to its average volume of 7,766,949. Truist Financial has a 52 week low of $34.23 and a 52 week high of $49.06. The business’s fifty day moving average is $45.50 and its 200 day moving average is $43.95. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $62.72 billion, a PE ratio of 14.19, a P/E/G ratio of 1.67 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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. 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 analysts’ expectations of $5.05 billion. During the same period last year, the company earned $0.81 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts expect that Truist Financial will post 3.95 EPS for the current fiscal year.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction 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 transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now owns 691,451 shares in the company, 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.

Analyst Ratings Changes

Several research analysts recently issued reports on TFC shares. Compass Point lifted their target price on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. 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 research note on Tuesday, January 21st. Citigroup raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Wells Fargo & Company lifted their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.