Truist Financial Corporation (NYSE:TFC) Announces Quarterly Dividend of $0.52

Truist Financial Corporation (NYSE:TFC) declared a quarterly dividend on Tuesday, October 27th. Stockholders of record on Friday, November 13th will be given a dividend of $0.52 per share by the insurance provider on Tuesday, December 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, November 13th.

Truist Financial has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Truist Financial to earn $4.88 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 42.6%.

Truist Financial Price Performance

Shares of TFC opened at $48.59 on Wednesday. The firm has a market cap of $59.36 billion, a P/E ratio of 12.52 and a beta of 0.92. The company has a 50 day simple moving average of $48.54 and a two-hundred day simple moving average of $49.52. Truist Financial has a 1 year low of $43.13 and a 1 year high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, October 16th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm posted $1.04 earnings per share. Truist Financial’s revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Truist Financial will post 4.66 earnings per share for the current year.

About Truist Financial

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.