Truist 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.
Truist Financial stock investors receive a 6.28% dividend. The $36 Raymond James price target is less than the consensus target of $37.19. The stock closed on Friday at $33.10, and the bank is scheduled to report on July 20.
U.S. Bancorp
This top super-regional bank is among the higher-paying dividend bank stocks. U.S. Bancorp (NYSE: USB) provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States.
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 5.43% dividend. BofA Securities upgraded U.S. Bancorp stock to a Buy rating last week. Its $40 target price is less than the $42.36 consensus figure, but the stock closed at $35.33 on Friday. Expect to see the results on July 20.
Note that it is possible some of these banks have to trim their dividends, but since they have exploded so high due to panic selling, even with a cut, they will still be well above most companies. With earnings for the quarter for these stocks scheduled this week, some solid prints and positive forward guidance could launch them considerably higher.
Originally published at 24/7 Wall St.
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