#5 - Truist Financial (NYSE:TFC)
Bank stocks can be a good place to find high-yield dividends. Many of the big banks trade for well over $50 a share, but some regional banks, like Truist Financial Corp. (NYSE: TFC), have more accessible share prices.
Truist Financial, which is considered a super-regional bank, was formed in 2019 after the merger of BB&T Corporation and SunTrust Banks. The bank is headquartered in Charlotte, North Carolina, and has 2,500 branches in 15 states.
With interest rates over 4%, it’s important to note that 28% of the company’s deposit accounts are non-interest-bearing. And the bank’s loan portfolio has only about 30% exposure to real estate. Furthermore, the company is taking strides to increase its presence in wealth management.
TFC stock has a dividend yield of 5.23%. It hasn’t been growing the dividend annually, but it did increase the dividend as recently as 2022.
About Truist Financial
Truist Financial Corporation, a financial services 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.
More about Truist Financial- Current Price
- $40.66
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $47.83 (17.6% Upside)
