Truist Financial (TFC) Declares $0.52 Dividend
Truist Financial said on January 24, 2023 that its board of directors declared a regular quarterly dividend of $0.52 per share ($2.08 annualized). Shareholders of record as of February 9, 2023 will receive the payment on March 1, 2023. Previously, the company paid $0.52 per share.
At the current share price of $49.39 / share, the stock's dividend yield is 4.21%. Looking back five years and taking a sample every week, the average dividend yield has been 3.94%, the lowest has been 2.90%, and the highest has been 7.01%. The standard deviation of yields is 0.81 (n=141).
The current dividend yield is 0.34 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.44. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.16%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 5.91% Upside
As of February 1, 2023, the average one-year price target for Truist Financial is $52.31. The forecasts range from a low of $42.42 to a high of $63.00. The average price target represents an increase of 5.91% from its latest reported closing price of $49.39.
The projected annual revenue for Truist Financial is $25,440MM, an increase of 14.30%. The projected annual EPS is $5.26, an increase of 17.88%.
Fund Sentiment
There are 2307 funds or institutions reporting positions in Truist Financial. This is a decrease of 39 owner(s) or 1.66%.
Average portfolio weight of all funds dedicated to US:TFC is 0.3991%, a decrease of 1.3514%. Total shares owned by institutions decreased in the last three months by 0.94% to 1,151,084K shares.
What are large shareholders doing?
Jpmorgan Chase & holds 60,132,738 shares representing 4.53% ownership of the company. In it's prior filing, the firm reported owning 61,793,570 shares, representing a decrease of 2.76%. The firm decreased its portfolio allocation in TFC by 7.91% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 39,525,813 shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 39,198,360 shares, representing an increase of 0.83%. The firm decreased its portfolio allocation in TFC by 3.51% over the last quarter.
Bank Of America holds 37,033,159 shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 36,632,732 shares, representing an increase of 1.08%. The firm decreased its portfolio allocation in TFC by 2.52% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 30,068,281 shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 29,466,320 shares, representing an increase of 2.00%. The firm decreased its portfolio allocation in TFC by 3.13% over the last quarter.
Geode Capital Management holds 23,463,953 shares representing 1.77% ownership of the company. In it's prior filing, the firm reported owning 22,386,556 shares, representing an increase of 4.59%. The firm decreased its portfolio allocation in TFC by 0.29% over the last quarter.
Truist Financial Background Information
(This description is provided by the company.)
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Formed by the historic merger of equals of BB&T and SunTrust, Truist has leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S. with total assets of $509 billion as of December 31, 2020. Truist Bank, Member FDIC.
This story originally appeared on Fintel.