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

Truist Financial Corporation (NYSE:TFC) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Friday, May 8th will be given 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 4.1%. The ex-dividend date of this dividend is Friday, May 8th.

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% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

TFC opened at $51.12 on Wednesday. The company has a fifty day moving average price of $48.14 and a two-hundred day moving average price of $48.20. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial has a 52 week low of $37.51 and a 52 week high of $56.19. The firm has a market capitalization of $63.45 billion, a PE ratio of 12.69, a P/E/G ratio of 0.88 and a beta of 0.89.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the previous year, the business earned $0.87 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, analysts anticipate that Truist Financial will post 4.52 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Cynthia B. Powell sold 3,500 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the sale, the chief accounting officer directly owned 667 shares of the company’s stock, valued at approximately $35,010.83. The trade was a 83.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Truist Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in TFC. Kemnay Advisory Services Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth about $25,000. Swiss RE Ltd. acquired a new position in shares of Truist Financial during the 4th quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Truist Financial during the 3rd quarter worth about $28,000. McMillan Office Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth about $31,000. Finally, Maseco LLP boosted its stake in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after buying an additional 228 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

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.