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 - Get Report), 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