Truist Financial Corporation (TFC) to Issue Quarterly Dividend of $0.52 on June 1st
by Amy Steele · The Cerbat GemTruist Financial Corporation (NYSE:TFC – Get Free Report) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Friday, May 8th will be paid a dividend of 0.52 per share by the insurance provider on Monday, June 1st. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, May 8th.
Truist Financial has increased its dividend by an average of 0.0%per year over the last three years. Truist Financial has a dividend payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Truist Financial to earn $5.12 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 40.6%.
Truist Financial Stock Performance
Shares of TFC opened at $49.96 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50-day moving average of $48.05 and a 200-day moving average of $48.36. The company has a market cap of $62.00 billion, a PE ratio of 12.40, a P/E/G ratio of 0.85 and a beta of 0.92. Truist Financial has a one year low of $38.27 and a one year high of $56.19.
Truist Financial (NYSE:TFC – Get Free Report) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.87 EPS. On average, equities research analysts predict that Truist Financial will post 4.52 EPS for the current fiscal year.
Analysts Set New Price Targets
TFC has been the subject of several research reports. Raymond James Financial raised their target price on Truist Financial from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Jefferies Financial Group restated a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. Evercore restated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Finally, Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.59.
Check Out Our Latest Analysis on Truist Financial
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.