Truist Financial Co. (NYSE:TFC) Declares Quarterly Dividend of $0.52

Truist Financial Co. (NYSE:TFC – Get Rating) announced a quarterly dividend on Tuesday, January 24th, RTT News reports. Investors of record on Friday, February 10th will be given a dividend of 0.52 per share by the insurance provider on Wednesday, March 1st. This represents a $2.08 annualized dividend and a yield of 4.30%.

Truist Financial has a payout ratio of 59.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Truist Financial to earn $5.11 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 35.2%.

Truist Financial Stock Performance

NYSE:TFC opened at $48.34 on Wednesday. The stock has a market cap of $64.14 billion, a P/E ratio of 10.91, a PEG ratio of 1.25 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average price is $44.63 and its two-hundred day moving average price is $45.96. Truist Financial has a twelve month low of $40.01 and a twelve month high of $66.10.

Wall Street Analyst Weigh In

TFC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Truist Financial from $48.50 to $47.50 in a research note on Wednesday, November 2nd. Evercore ISI lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $54.00 to $47.00 in a research report on Wednesday, October 19th. The Goldman Sachs Group lowered their price target on Truist Financial from $57.00 to $51.00 and set a “buy” rating on the stock in a research report on Friday, September 30th. Piper Sandler upgraded Truist Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $52.00 to $55.00 in a research report on Wednesday, September 28th. Finally, TheStreet upgraded Truist Financial from a “c+” rating to a “b-” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $52.59.

Institutional Trading of Truist Financial

Large investors have recently modified their holdings of the business. Evergreen Capital Management LLC lifted its holdings in Truist Financial by 14.6% in the 1st quarter. Evergreen Capital Management LLC now owns 7,992 shares of the insurance provider’s stock worth $453,000 after buying an additional 1,017 shares during the period. West Family Investments Inc. boosted its holdings in Truist Financial by 33.9% in the first quarter. West Family Investments Inc. now owns 5,495 shares of the insurance provider’s stock valued at $312,000 after acquiring an additional 1,390 shares in the last quarter. Merit Financial Group LLC raised its holdings in Truist Financial by 33.4% in the 1st quarter. Merit Financial Group LLC now owns 4,987 shares of the insurance provider’s stock worth $283,000 after purchasing an additional 1,250 shares in the last quarter. Williams Jones Wealth Management LLC. lifted its position in shares of Truist Financial by 5.8% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock worth $275,000 after purchasing an additional 268 shares during the period. Finally, SVB Wealth LLC boosted its stake in shares of Truist Financial by 19.3% during the 1st quarter. SVB Wealth LLC now owns 4,233 shares of the insurance provider’s stock valued at $240,000 after purchasing an additional 686 shares in the last quarter. 72.49% of the stock is owned by institutional investors.

About Truist Financial

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Truist Financial Corporation, a holding 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.