Like real estate, regional banking is all about location, location, location. For banks located in the fastest-growing regions in the country, this can mean plenty of deposit and loan growth. For our latest Best Dividend Protection Stocks Model Portfolio pick, its location has been the key to its success and its growing 2.55% dividend yield!
Our pick operates in the fertile Sun Belt area of the country. With branches in Georgia, Florida, Alabama and the Carolinas, our pick has continued to see growth as these areas have expanded and seen economic tailwinds. Thanks to its savings and loans focus, deposits have grown and the firm has seen swift demand for its loans.
Better still is that our pick has continued to expand further into a bigger regional bank. Thanks to several mergers and buyouts, our pick has added assets, customers and branches to its umbrella. This has expanded its reach further and made it a top regional player in its operating area.
The combination has allowed our pick to have steady cash flow and reward investors with increasing dividends since the end of the Great Recession. The end result is that our pick is a great stock for conservative investors while still offering plenty of growth potential.
In order to make room for the latest banking pick, we’ve removed an industrial stock from the list.
You can check out the Best Dividend Protection Stocks Model Portfolio to explore all the stocks.
