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

Key Points

• Declared quarterly dividend of $0.52 per share, payable June 1 to shareholders of record May 8, equating to a 4.1% yield and $2.08 annualized.
• The dividend appears well covered with a current payout ratio of 46.5% and an expected payout ratio of ~40.6% based on analysts' forecast of $5.12 EPS next year, though dividend growth has averaged 0.0% over the past three years.
• Truist beat Q1 estimates with $1.09 EPS (vs. $1.00 est.) and $5.20B revenue (up 5% YoY); the stock trades at a P/E of ~12.7 and a market cap near $63.5B.

Truist Financial Corporation (NYSE:TFC - Get Free Report) declared a quarterly dividend on Tuesday, April 28th. Shareholders of record on Friday, May 8th will be paid a dividend of 0.52 per share by the insurance provider on Monday, June 1st. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, May 8th.

Truist Financial has increased its dividend by an average of 0.0%per year over the last three years. Truist Financial has a dividend payout ratio of 46.5% meaning 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 Stock Performance

NYSE:TFC opened at $51.12 on Wednesday. The company 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. The company has a 50 day simple moving average of $48.14 and a two-hundred day simple moving average 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 fifty-two week low of $37.51 and a fifty-two week high of $56.19.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating 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 company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same period in the prior year, the firm posted $0.87 EPS. The company's quarterly revenue was up 5.0% on a year-over-year basis. Research analysts anticipate that Truist Financial will post 4.52 earnings per share for the current year.

Insider Transactions at Truist Financial

In related news, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial 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 completion of the sale, the chief accounting officer owned 667 shares of the company's stock, valued at approximately $35,010.83. This trade represents a 83.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

Institutional Trading of Truist Financial

Several hedge funds have recently bought and sold shares of TFC. Brighton Jones LLC lifted its stake in Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock valued at $1,023,000 after acquiring an additional 14,093 shares in the last quarter. Woodline Partners LP lifted its stake in Truist Financial by 39.5% during the 1st 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 in the last quarter. Sivia Capital Partners LLC bought a new position in Truist Financial during the 2nd quarter valued at $575,000. AXA S.A. lifted its stake in Truist Financial by 23.1% during the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider's stock valued at $1,126,000 after acquiring an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its stake in Truist Financial by 20.1% during 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 in the last quarter. 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.

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