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Three New Picks for Blue Chip Income

·4 min read

Our Timely Ten list represents our top ten recommendations from the Undervalued category as of each month, explains Kelley Wright, a specialist in blue chip, dividend stocks and the editor of Investment Quality Trends.

Short of utilizing the personal investment management services of our sister company, IQ Trends Private Client Asset Management, this is as close to real time advice you can get. Here's a look at the three latest new additions to our Timely Ten:

German American Bancorp (GABC)

German American Bancorp operates as the bank holding company for German American Bank, which provides retail and commercial banking services. The company operates through three segments: Core Banking, Wealth Management Services, and Insurance Operations.

More from Kelley Wright: IQ Trends and the Search for Value

The Core Banking segment accepts various deposit products from the general public; and originates consumer, commercial and agricultural, commercial and agricultural real estate, and residential mortgage loans, as well as sells residential mortgage loans in the secondary market.

The Wealth Management segment provides trust, investment advisory, brokerage, and retirement planning services. The Insurance Operations segment offers a range of personal and corporate property and casualty insurance products.

Through year end 2020, the company operated 73 banking offices in 20 contiguous southern Indiana counties; 8 counties in Kentucky; and one county in Tennessee. GABC was founded in 1910, is headquartered in Jasper, Indiana, has an (A+) Quality Ranking, and has paid dividends since 1983.

Toronto-Dominion Bank (TD)

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the US serving over 26 million customers.

Headquartered in Toronto, the bank offers personal deposits; financing, investment, cash management, international trade, and banking services to businesses; auto and real estate financing; credit cards; asset management services; and property & casualty (P&C), life, and health insurance products.

It also provides capital markets, investment banking and trading services to companies, governments, and institutions.

Operations are conducted via a branch network of 1,058 offices in Canada and 1,223 offices in the US located along the East Coast from Maine to Florida. TD also ranks among the world’s leading online financial services firms with over 14M active online & mobile customers.

On 10/6/20, TD acquired a 13.5% stake in Charles Schwab (SCHW), following the completion of Schwab’s acquisition of TD Ameritrade (of which TD had a 43% ownership).

The transaction created additional financial flexibility for TD,  which could translate into greater liquidity that could be helpful for TD’s long-term US strategy if it uses the sale proceeds to purchase a regional bank in the Eastern US to fortify its growing US footprint.

In addition, TD and Schwab entered into a 10-year sweep agreement that will allow TD to keep an important source of low-cost deposits and servicing fees. TD has an (A) Quality Ranking and has paid dividends since 1857.

TELUS Corporation (TU)

See also: CrowdStrike: A "Fast Money" Favorite

TELUS is the largest incumbent telecommunications company in Western Canada and the third largest facilities-based wireless operator, with coverage of nearly all of Canada’s population.

TU provides a wide range of telecommunications services and products including wireless, data, Internet protocol, voice, and television.

The company gets the majority of its revenue from access to, and the use of, its telecommunications infrastructure, and from providing products and services that facilitate access to and usage of this infrastructure. The company operates through two primary segments, Wireless and Wireline.

The Wireless segment is involved in the voice, data, and equipment sales. This segment sells wireless handsets to resellers and customer premises equipment. The Wireline segment offers data services, which include television; Internet, enhanced data, and hosting services; and managed and legacy data services; as well as voice local, voice long distance, and other telecommunications services.

In April 2019, TU announced it successfully bid on 12 wireless 600 MHz spectrum licenses. The 600 MHz band is important for its ability to travel long distances in rural areas and infiltrate barriers to better reach in-building locations, such as elevators and parking garages, making it highly conducive to 5G deployment.

In January 2020, TU completed the acquisition of Competence Call Center (CCC), a provider of higher-value-added business services with a focus on customer relationship management and content moderation.

CCC offers its services across 11 European countries and partners with industry-leading global brands primarily from fast-growing technology, media and telecommunications, retail, and travel and hospitality sectors. TU has an (A) Quality ranking and has paid dividends since 1993.

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