Truist Financial Co. (NYSE:TFC – Get Free Report) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.52 per share by the insurance provider on Monday, June 3rd. This represents a $2.08 annualized dividend and a yield of 5.35%.
Truist Financial has raised its dividend payment by an average of 4.9% annually over the last three years. Truist Financial has a dividend payout ratio of 53.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Truist Financial to earn $3.67 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 56.7%.
Truist Financial Price Performance
NYSE TFC opened at $38.85 on Wednesday. The company has a market cap of $51.85 billion, a PE ratio of -29.43, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08. Truist Financial has a 52 week low of $25.56 and a 52 week high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The firm’s 50-day simple moving average is $36.76 and its two-hundred day simple moving average is $34.70.
Insider Buying and Selling
In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of brokerages have recently issued reports on TFC. Barclays increased their price target on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Compass Point raised shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $42.00 in a report on Tuesday. Stephens reissued an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a report on Tuesday. Finally, StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.59.
Read Our Latest Report on Truist Financial
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.
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