Truist Financial Corporation (TFC) To Go Ex-Dividend on February 13th

Truist Financial Corporation (NYSE:TFC) declared a quarterly dividend on Tuesday, January 27th. Stockholders of record on Friday, February 13th will be given a dividend of 0.52 per share by the insurance provider on Monday, March 2nd. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, February 13th.

Truist Financial has raised its dividend payment by an average of 0.0%per year over the last three years. Truist Financial has a payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Truist Financial to earn $4.55 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 45.7%.

Truist Financial Trading Down 1.0%

Shares of TFC opened at $50.36 on Thursday. Truist Financial has a 12-month low of $33.56 and a 12-month high of $51.51. The firm has a market capitalization of $64.42 billion, a P/E ratio of 13.22, a P/E/G ratio of 0.86 and a beta of 0.89. The firm has a 50-day moving average price of $49.12 and a 200 day moving average price of $46.29. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.09). The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.32 billion. Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. Sell-side analysts forecast that Truist Financial will post 4 EPS for the current year.

Analyst Ratings Changes

TFC has been the subject of a number of recent analyst reports. Raymond James Financial raised their price objective on Truist Financial from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Citigroup lifted their price target on shares of Truist Financial from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 31st. UBS Group set a $55.00 price objective on shares of Truist Financial in a report on Tuesday, October 21st. Barclays downgraded shares of Truist Financial from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $47.00 to $56.00 in a report on Monday, January 5th. Finally, Argus upped their price target on Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $54.20.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.