#5 - Truist Financial (NYSE:TFC)
The financial sector is another good place to look for high-yield dividend stocks, and where we found Truist Financial Corp. (NYSE: TFC). Truist is a regional bank that does business in 15 states, mostly in the mid-Atlantic and Southeastern United States.
In 2024, TFC stock delivered a total return of 21%. That’s below the average of the S&P 500 as well as the best-performing regional banks. However, there are reasons for that, which are likely to become more favorable in 2025.
First, Truist’s revenue was lower in 2024 due to the sale of its insurance business. But that is now behind the company, and investors should expect to see improvements in 2025 and beyond. The same may be true for the bank’s loan portfolio, which is showing a year-over-year decline in demand. However, if the Trump administration is successful at lowering corporate taxes and regulations, demand on the commercial side is likely to increase.
Truist's dividend yield is 4.78%, and it has increased its dividend payout in each of the last 13 years.
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
- $40.41
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 14 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $51.16 (26.6% Upside)
