NEW YORK (TheStreet) -- TheStreet's David Peltier said Monday there are some dividend-paying stocks that may be ripe for buying -- specifically BB&T (BBT), a regional banking firm that has been doing extremely well this year.
Although the stock is up 14% on the year, Peltier said he likes the dividend yield being near the high end of the industry range at 2.8% after the bank hiked its payout earlier this year.
However, he says the stock, along with the rest of the financial sector, should pull back from $33 to around $31. At these levels the stock will yield closer to 3%.
He concluded that investors should "take a pass on it now, but keep this one on the watchlist."-- Written by Bret Kenwell in Petoskey, Mich. Follow @traderboy23
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV