Truist Financial Corporation (TFC) To Go Ex-Dividend on August 14th

Truist Financial Corporation (NYSE:TFC) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Friday, August 14th will be paid a dividend of 0.52 per share by the insurance provider on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 14th.

Truist Financial has raised its dividend payment by an average of 0.0%annually over the last three years. Truist Financial has a dividend payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Truist Financial to earn $4.98 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 41.8%.

Truist Financial Stock Up 0.9%

Shares of NYSE TFC opened at $52.32 on Wednesday. Truist Financial has a 12-month low of $40.78 and a 12-month high of $56.19. The firm’s 50-day simple moving average is $50.88 and its 200 day simple moving average is $49.74. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. The company has a market cap of $63.92 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter last year, the company posted $0.91 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that Truist Financial will post 4.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Truist Financial news, CEO William H. Rogers, Jr. sold 13,250 shares of Truist Financial stock in a transaction on Monday, July 20th. The shares were sold at an average price of $52.36, for a total transaction of $693,770.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director K. David Jr. Boyer sold 3,986 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total transaction of $202,090.20. Following the sale, the director owned 10,270 shares of the company’s stock, valued at $520,689. The trade was a 27.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 30,516 shares of company stock valued at $1,584,428. Company insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Truist Financial

Hedge funds have recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. bought a new stake in shares of Truist Financial in the 4th quarter valued at about $25,000. Swiss RE Ltd. bought a new stake in Truist Financial in the fourth quarter valued at approximately $26,000. N.E.W. Advisory Services LLC bought a new stake in Truist Financial in the second quarter valued at approximately $30,000. Navigoe LLC acquired a new stake in Truist Financial in the second quarter worth $30,000. Finally, McMillan Office Inc. acquired a new stake in Truist Financial in the fourth quarter worth $31,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

About Truist Financial

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.