Truist Financial Co. (TFC) to Issue Quarterly Dividend of $0.52 on December 2nd

Truist Financial Co. (NYSE:TFC) 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.

Truist Financial (NYSE:TFC) last released its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same period in the prior year, the company posted $0.95 earnings per share. Truist Financial’s quarterly revenue was down 15.9% on a year-over-year basis. Research analysts anticipate that Truist Financial will post 3.57 EPS for the current fiscal year.

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.

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.