Truist Financial (TFC)

The US banks trade below the S&P multiple and will benefit big from NII (net interest income) troughing. Trades at 0.9x book and yields 5%. Is bullish the sector.

Is surprised this doing poorly, -11.83% in the last 6 months. It yields 5% and trades at 10x PE, which he thinks that go to 12x. Hold or even add shares.

Pays a 5.6% dividend, conservative and well-run. Likes it.

They reported earlier this week: they beat revenues, but missed EPS. They took a $6 billion impairment charge that he wants to learn more about. TFC is okay going forward.

They just missed earnings and guided down for the second-straight quarter. It's one of the few regional banks last week that didn't rise.

(A Top Pick Nov 08/19, Down 8%) This was BB&T Corp. a bank in North Caroline and along the east coast. Was well-run. It merged with Sun Trust and changed names. This is especially strong in the southeast of the US, which he likes for its strong economics and demographics. The rising US yield curve is a tailwind and profitable for TFC.