BNY Mellon’s Other segment engages in the leasing, corporate treasury, derivative and other trading, corporate and bank-owned life insurance, renewable energy investment and business exit activities. It serves central banks and sovereigns, financial institutions, asset managers, insurance companies, corporations, local authorities and high net-worth individuals and family offices.
The dividend yield here is 3.50%. Citigroup’s $50 price target is a Wall Street high. The consensus target for Bank of New York Mellon stock is $47.77 and Wednesday’s last trade came in at $42.04 per share.
Citigroup
This top bank stock has bounced nicely off the lows, and Warren Buffett bought a massive $2.5 billion worth of shares back in the summer. Citigroup Inc. (NYSE: C) is a leading global diversified financial service company that provides consumers, corporations, governments a broad range of financial products and services.
Citigroup offers services such as consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. It operates and does business in more than 160 countries and jurisdictions in North America, Latin America, Asia and elsewhere.
Trading at a still very cheap 8.98 times estimated 2022 earnings, this stock looks very reasonable in what remains a volatile stock market and in a sector that has dramatically lagged.
Citigroup stock comes with a 4.41% dividend. Oppenheimer has a target price of $79, also a Wall Street high. The $56.47 consensus target is closer to Wednesday’s ending share price of $45.55.
U.S. Bancorp
This top superegional bank is among the higher-paying dividend bank stocks. U.S. Bancorp (NYSE: USB) provides various financial services in the United States through a network of 2,434 banking offices, principally operating in the Midwest and western regions of the United States, as well as through online services and a network of 4,232 ATMs.
The company offers depository services, including checking accounts, savings accounts and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance and other products. It also provides ancillary services comprising capital markets, treasury management and receivable lock-box collection services to corporate customers; and a range of asset management and fiduciary services for individuals, estates, foundations, business corporations and charitable organizations.
In addition, U.S. Bancorp offers investment and insurance products to its customers principally within its markets, as well as fund administration services to a range of mutual and other funds. The company also provides corporate and purchasing card and corporate trust services, and merchant processing services, as well as cash and investment management, ATM processing, mortgage banking and brokerage and leasing services.
Shareholders receive a 4.48% dividend. U.S. Bancorp stock has a $64 price objective at Oppenheimer. The consensus target is $51.34, and shares closed on Wednesday at $41.75.
Financial stocks have performed horribly all year, and with the prospects for more good earnings in the fourth quarter and in 2023, it makes sense to add the top Warren Buffett holdings. With earnings for the third quarter out of the way, it makes sense to start buying partial positions now and wait to see if the market takes another leg down in November.
Originally published at 24/7 Wall St.
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