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

Truist Financial Corporation (NYSE:TFC) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Friday, August 14th will be given a dividend of 0.52 per share by the insurance provider on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, August 14th.

Truist Financial has increased its dividend payment by an average of 0.0%per year over the last three years. 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 $4.98 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 Price Performance

TFC stock opened at $53.02 on Wednesday. The business’s 50-day moving average is $50.04 and its two-hundred day moving average is $49.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $66.06 billion, a P/E ratio of 12.16, a P/E/G ratio of 0.95 and a beta of 0.89. Truist Financial has a 1 year low of $40.78 and a 1 year high of $56.19.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The business had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts anticipate that Truist Financial will post 4.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director K. David Jr. Boyer sold 3,986 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total value of $202,090.20. Following the transaction, the director directly owned 10,270 shares of the company’s stock, valued at $520,689. This trade represents a 27.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. sold 13,250 shares of Truist Financial stock in a transaction on Monday, July 20th. The stock was sold at an average price of $52.36, for a total transaction of $693,770.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.15% of the company’s stock.

Institutional Trading of Truist Financial

Several institutional investors and hedge funds have recently made changes to their positions in TFC. Brighton Jones LLC lifted its stake in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after buying an additional 14,093 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Truist Financial by 39.5% in the first quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after acquiring an additional 31,454 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Truist Financial during the second quarter worth approximately $575,000. AXA S.A. grew its position in shares of Truist Financial by 23.1% during the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after acquiring an additional 4,921 shares during the last quarter. Finally, Main Street Financial Solutions LLC increased its holdings in shares of Truist Financial by 20.1% in the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock valued at $292,000 after acquiring an additional 1,134 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Company Profile

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.