Truist Financial Corporation (TFC) to Distribute Quarterly Dividend of $0.52 on December 1st

Truist Financial Corporation (NYSE:TFC) announced a quarterly dividend on Tuesday, October 27th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.52 per share by the insurance provider on Tuesday, December 1st. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, November 13th.

Truist Financial has a payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Truist Financial to earn $4.89 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 42.5%.

Truist Financial Stock Down 0.1%

Shares of NYSE:TFC opened at $50.26 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $60.23 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 1.12 and a beta of 0.90. The company has a 50 day moving average of $48.35 and a 200-day moving average of $49.50. Truist Financial has a one year low of $43.13 and a one year high of $56.19.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, October 16th. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.01). Truist Financial had a net margin of 18.01% and a return on equity of 10.37%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the company earned $1.04 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts forecast that Truist Financial will post 4.66 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TFC. Royal Bank Of Canada reduced their price target on Truist Financial from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. UBS Group dropped their price objective on Truist Financial from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, October 5th. JPMorgan Chase & Co. raised their target price on Truist Financial from $50.50 to $51.50 and gave the stock an “underweight” rating in a report on Friday, October 30th. Weiss Ratings restated a “buy (b)” rating on shares of Truist Financial in a research report on Tuesday, October 27th. Finally, Wolfe Research began coverage on Truist Financial in a research report on Tuesday, October 27th. They set a “peer perform” rating for the company. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $54.73.

Truist Financial Company Profile

Truist Financial Corporation (NYSE: TFC) is a financial services company headquartered in Charlotte, North Carolina. It provides banking and related services to individuals, businesses and institutions, including deposit accounts, loans, credit cards, payment services and treasury management. The company also offers wealth management, investment and mortgage services, along with commercial banking and capital markets solutions. Its operations are concentrated in the southeastern and mid-Atlantic United States, serving customers through branches, digital channels and other delivery platforms.