The Consumer Bank segment provides consumer banking products and services related to residential first mortgages, home equity lines and loans, branch small business and indirect loans, consumer credit cards and other consumer loans, as well as deposits.
The Wealth Management segment offers credit-related products and retirement and savings solutions, as well as trust and investment management, asset management and estate planning services to individuals, businesses, governmental institutions and nonprofit entities. It also provides investment and insurance products, low-income housing tax credit corporate fund syndication services and other specialty financing services.
The dividend yield here is 4.74%. Regions Financial stock has a $24 price target at Goldman Sachs. The consensus target is $22.13, and Thursday’s close was at $16.99.
Truist Financial
This company was created through a merger of SunTrust Bank and BB&T in 2019. Truist Financial Corp. (NYSE: TFC) provides banking and trust services in the southeastern and mid-Atlantic United States. Its deposit products include non-interest-bearing checking, interest-bearing checking, savings and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
The company also provides funding; asset management; automobile lending; bankcard lending; consumer finance; home equity and mortgage lending; insurance, such as property and casualty, life, health, employee benefits, workers compensation and professional liability, surety coverage, title, and other insurance products; investment brokerage; mobile/online banking; and payment, lease financing, small business lending, and wealth management/private banking services.
In addition, Truist offers association, capital market, institutional trust, insurance premium and commercial finance, international banking, leasing, merchant, commercial deposit and treasury, government finance, commercial middle market lending, small business and student lending, floor plan and commercial mortgage lending, mortgage warehouse lending, private equity investment, real estate lending and supply chain financing services. It provides corporate and investment banking, retail and wholesale brokerage, securities underwriting and investment advisory services.
Investors receive a 7.19% dividend. The Goldman Sachs price target is $39, but Truist Financial stock has a $41.02 consensus target. The stock closed over 3% higher on Thursday at $29.84.
Note that it is possible some of these banks have to trim their dividends. Yet, because they have exploded so high due to panic selling, even with a cut, they will still be well above those of most companies. With earnings for the quarter largely complete, and Wall Street having a couple of months to reassess some of these top regional players, the risk-reward appears far better than it was in March.
Originally published at 24/7 Wall St.
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