Top 5 High Dividend Stocks To Buy According To Analysts

In this article, we discuss top 5 high dividend stocks to buy according to analysts. If you want to read our detailed analysis of dividend stocks and their performance over the years, go directly to read Top 20 High Dividend Stocks To Buy According To Analysts. 

5. Truist Financial Corporation (NYSE:TFC)

Upside Potential as of May 4: 74.1%
Average Price Target Based on Analyst Ratings: $45.2
Dividend Yield as of May 4: 8.01%

Truist Financial Corporation (NYSE:TFC) is an American bank holding company that provides services in commercial banking, credit cards, mortgages, and more. RBC Capital maintained an Outperform rating on the stock in April with a $46 price target, following the company’s recent quarterly earnings.

On April 25, Truist Financial Corporation (NYSE:TFC) declared a quarterly dividend of $0.52 per share, which was in line with its previous dividend. The stock has a dividend yield of 8.01%, as recorded on May 4. The company has a payout ratio of 42.2%, which makes it one of the best dividend stocks on our list.

At the end of Q4 2022, 44 hedge funds in Insider Monkey’s database reported owning stakes in Truist Financial Corporation (NYSE:TFC), up from 39 in the previous quarter. These stakes have a collective value of over $823.5 million.

Oakmark Funds mentioned Truist Financial Corporation (NYSE:TFC) in its Q1 2023 investor letter. Here is what the firm has to say:

“Truist Financial Corporation (NYSE:TFC) is among the largest regional banks in the U.S. The company has a strong deposit franchise with high local market share, predominantly focused in fast-growing southeastern markets. The company’s share price declined meaningfully this quarter, alongside most bank stocks, as investors grew concerned about mark-to-market losses on its securities portfolio and potential deposit outflows. We believe the company’s reputation, relationships and liquidity profile will allow it to weather this storm without material negative impact. The company’s shares are currently valued at a single-digit multiple of our estimate of normalized earnings power. We believe this is a very attractive price for such a high-quality regional banking franchise that has historically generated a high-teens return on its tangible equity. Furthermore, the company’s capital-light insurance brokerage subsidiary, which contributes little to tangible book value and just 10% of reported earnings, could be worth as much as 35% of the current stock price based on its recently announced minority sale price.”