Truist Financial
This company resulted from 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 the following:
- 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
- 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
- Supply chain financing services
- Corporate and investment banking
- Retail and wholesale brokerage
- Securities underwriting
- Investment advisory services
The dividend yield here is 7.58%. Citigroup has set a $39 target price, and Truist Financial stock has a consensus target of $34.68. The stock closed more than 6% higher on Tuesday at $29.25 after the upgrade and reports the bank may sell its insurance brokerage.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
