Truist Financial Co. (TFC) To Go Ex-Dividend on February 14th

Truist Financial Co. (NYSE:TFC) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Shareholders of record on Friday, February 14th will be given 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 yield of 4.38%. The ex-dividend date of this dividend is Friday, February 14th.

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. 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 Up 0.4 %

Shares of Truist Financial stock opened at $47.44 on Thursday. Truist Financial has a 12-month low of $34.23 and a 12-month high of $49.06. The stock has a market cap of $62.98 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.67 and a beta of 1.08. 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 business’s 50 day moving average is $45.51 and its 200-day moving average is $44.00.

Truist Financial (NYSE:TFC) last released its quarterly earnings data 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 return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the firm posted $0.81 earnings per share. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. Equities research analysts predict that Truist Financial will post 3.95 earnings per share for the current fiscal year.

Insider Activity

In other news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $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. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

TFC has been the topic of a number of research analyst reports. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group increased their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. raised their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Compass Point lifted their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.