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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
