Truist Financial Co. (NYSE:TFC – Get Free Report) 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 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Friday, November 8th.
Truist Financial has raised its dividend payment by an average of 4.9% per year over the last three years and has increased its dividend every year for the last 13 years. Truist Financial has a dividend 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 0.1 %
Shares of TFC stock opened at $43.44 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 0.85. The company has a market capitalization of $58.13 billion, a price-to-earnings ratio of -32.91, a PEG ratio of 1.83 and a beta of 1.05. Truist Financial has a 52-week low of $27.01 and a 52-week high of $45.31. The company has a 50-day simple moving average of $42.76 and a two-hundred day simple moving average of $40.41.
Analysts Set New Price Targets
TFC has been the subject of several research analyst reports. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. The Goldman Sachs Group decreased their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.02.
Get Our Latest Analysis on Truist Financial
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.
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