As of Dec. 6, 2021, BAC does not have any upcoming dividends. The Company has complete control over the declaration and payment of dividends.
KeyCorp (NYSE: KEY)
Bank holding firm KeyCorp (NYSE: KEY) provides a wide range of retail and commercial banking products and services to customers in the United States. On our list of the best bank dividend stocks, the company is ranked 10th.
KeyCorp (NYSE: KEY) was taken over by Keefe Bruyette analyst David Konrad in July. It has a Market Perform rating and a price objective of $21. In light of increased expectations that the Federal Reserve will boost short-term rates, he said he is still positive on large-cap banks like KeyCorp (NYSE: KEY).
By surpassing expectations by $0.18, KeyCorp (NYSE: KEY) posted an EPS in the second quarter of 2021. A 3.26 percent year-over-year increase in revenue, as well as a $40.52 million beat on forecasts, were the company’s results for the quarter. A year-to-date gain of 17.25 percent for KeyCorp (NYSE: KEY) and a 9.39 percent increase in the previous six months are also to be noted.
Insider Monkey analyzed 866 hedge funds, and 41 of them had $565 million invested in KeyCorp (NYSE: KEY) at the end of the first quarter of 2019. This compares to 29 hedge funds with a total position worth of $317 million in the previous quarter.
A strong bank stock to invest in is KeyCorp (NYSE: KEY) like Morgan Stanley, Bank of America, JPMorgan Chase & Co, and The Goldman Sachs Group, Inc. (NYSE: GS).
Citizens Financial Group, Inc. (NYSE: CFG)
This corporation is the bank holding company for the Citizens Bank, National Association (Citizens Financial Group, NYSE: CFG). It is the 9th best bank dividend stock on our list since it offers both retail and commercial banking services in the United States.
Citigroup Inc. (NYSE: CFG) shares were given an Outperform rating and a $54 price target by Keefe Bruyette’s David Konrad in July.
By surpassing expectations by a total of $0.32 in the second quarter of 2021, Citizens Financial Group, Inc. The corporation made $1.61 billion in revenue, but it fell short of expectations by $20.36 million. It has also gained 17.76 percent in the last six months and 22.83 percent year-to-date for Citizens Financial Group, Inc (NYSE: CFG).
Citizens Financial Group, Inc. (NYSE: CFG) was valued $579 million to 81 hedge funds tracked by Insider Monkey at the end of the first quarter of 2021. This compares to 38 hedge funds with a total position worth of $453 million in the previous quarter.
If you’re looking for a good bank stock, Citizens Financial Group, Inc. (NYSE: CFG) is a good choice. Morgan Stanley (NYSE: MS), Bank of America (NYSE: BAC), JPMorgan Chase & Co
U.S. Bancorp (NYSE: USB)
The financial services holding firm U.S. Bancorp (NYSE: USB) provides corporate, commercial, consumer, and business banking services in the United States as part of the broader banking industry. On our list of the best bank dividend stocks, it comes in at number 8.
US Bancorp (NYSE: USB) shares have seen a price target increase from Chris Kotowski at Oppenheimer following the company’s good Q2 earnings. Shares of U.S. Bancorp (NYSE: USB) have a new price objective of $73, up from the prior $70 goal, and Kotowski has maintained an Outperform rating on the stock.
U.S. Bancorp (NYSE: USB) reported an EPS of $1.28 in the second quarter of 2021, exceeding expectations by $0.15. The company made $5.76 billion in revenue, which was higher than expected by $136.74 million. The stock of U.S. Bancorp (NYSE: USB) has likewise risen 23.30 percent in the previous six months and 20.82 percent year-to-date.
Insider Monkey’s Insider Monkey database shows that 43 of the 866 hedge funds tracked by the firm at the end of the first quarter of 2021 had positions in US Bancorp (NYSE: USB) worth $8.33 billion. This compares to 60 hedge funds with a total position worth of $8.13 billion in the previous quarter.
Bank stocks like Morgan Stanley (MS), Bank of America (BAC), JPMorgan Chase & Co (JPM) and The Goldman Sachs Group, Inc. (GS) are all fantastic places to put your money, and U.S. Bancorp (NYSE: USB) is no exception.
The Bank of New York Mellon Corporation (NYSE: BK)
The Bank of New York Mellon Corporation (NYSE: BK) provides financial products and services to customers in the United States and around the world. On our list of the best dividend-paying bank stocks, the company ranks seventh.
Shares in The Bank of New York Mellon Corporation (NYSE: BK) have been upgraded to Buy from Hold by Argus analyst Stephen Biggar in July. A $55 price objective is also on Biggar’s radar for this stock, which he attributes to the company’s extremely strong Q2 results for support.
First-quarter EPS for the New York Mellon Corporation was $1.13, exceeding forecasts by $0.13. With $3.96 billion in revenue, the corporation outperformed expectations by $98.43 million. (BK) has likewise risen 20.88 percent in the previous six months and 19.86 percent year-to-date. (NYSE: BK).
The Bank of New York Mellon Corporation (NYSE: BK) was the subject of $4.76 billion worth of hedge fund investments by the end of the first quarter of 2021, according to Insider Monkey. This compares to a total of 47 hedge funds with a stake value of $4.68 billion in the previous quarter.
Morgan Stanley (NYSE: MS), Bank of America, JPMorgan Chase, and The Goldman Sachs Group are all terrific bank stocks to own. The Bank of New York Mellon (NYSE: BK) is an excellent bank stock to invest in as well.
The Goldman Sachs Group, Inc. (NYSE: GS)
NYSE: GS) works through its Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management businesses to provide financial services to organizations, institutions and governments, as well as people. The corporation has a global presence and comes sixth on our ranking of the best dividend-paying bank stocks.
Chris Kotowski from Oppenheimer also raised the price target on shares of The Goldman Sachs Group, Inc. (NYSE: GS) from $493 to $540 in July. He also kept his Outperform rating on the stock.
The Goldman Sachs Group, Inc. (NYSE: GS) posted an earnings per share (EPS) of $15.02 in the second quarter of 2021, exceeding projections by $4.84. $15.39 billion was the company’s revenue for the year, an increase of 15.74 percent over the previous year and an increase of $2.99 billion over expectations. It has also gained 32.75 percent in the last six months and 41.15 percent year-to-date for Goldman Sachs Group, Inc. (NYSE: GS).
There were 77 hedge funds in Insider Monkey’s database with $5.05 billion invested in The Goldman Sachs Group, Inc (NYSE: GS) at the end of the first quarter of 2019. According to the previous quarter, there were 77 hedge funds with a total value of around $4.607 billion invested in the stock market.
In its first-quarter 2021 investor letter, Artisan Partners, a high-value-added investment management firm, cited The Goldman Sachs Group, Inc. (NYSE: GS). According to them, this is what they said:
How often do Bank of America pay dividends?
Additional dividends of $1.75 per share were announced on the 7 percent Cumulative Redeemable Preferred Stock Series B by the Board of Directors. Those shareholders of record at the close of business on January 14, 2022, will receive their dividends on January 25, 2022.
What is Coca Cola dividend?
For than a century, Coca-Cola has been providing people with a refreshing beverage. With a focus on restaurants, cinemas, and theme parks, the company makes and sells its drinks around the world. As economies have begun to recover from the effects of the coronavirus pandemic, the strategy is now working to its advantage.
As of this writing, Coke is yielding a dividend of 3.07 percent by paying out $0.42 per share each quarter. Dividend payout ratio, or the percentage of profits distributed as dividends, has risen to more than 100% in recent years. Because eventually the company runs out of cash, a dividend payout ratio of more than 100% is unsustainable..
What is a good bank stock to buy?
Customers in the United States and abroad can access a variety of financial products and services provided by Bank of New York Mellon Corporation (NYSE: BK), a bank holding company. On our selection of the 15 best bank stocks to purchase right now, the company comes in at number nine.
The Bank of New York Mellon Corporation (NYSE: BK) posted an earnings per share (EPS) of $1.13 in the second quarter of 2021, exceeding consensus projections by $0.13. An projected $3.96 billion in revenue was beaten by a total of $98.43 million.
There were approximately $4.9 billion in positions in The Bank of New York Mellon Corporation by the end of Q2 of 2021 held by 52 of the 873 hedge funds tracked by Insider Monkey. In the preceding quarter, 49 hedge funds invested nearly $4.8 billion in total.
A Citigroup analyst boosted his price target for The Bank of New York Mellon Corporation (NYSE: BK) from $56 to $60 on September 15 and maintained a Buy rating on the company’s stock.
The Goldman Sachs Group, Inc. (NYSE:GS)
New York-based Goldman Sachs Group, Inc. (NYSE:GS) is a financial services corporation that, among other things, manages investments, manages assets, and issues securities. On our list of the 15 best bank stocks to purchase right now, the company comes in at eighth place.
With a $15.02 reported EPS for the second quarter of 2021, The Goldman Sachs Group, Inc. (NYSE:GS) surpassed expectations by $4.84 in its quarterly earnings announcement on July 13. The company also reported revenues of $15.39 billion, above forecasts by $2.99 billion.
Shares of The Goldman Sachs Group, Inc. (NYSE:GS) have been upgraded by Citi analyst Keith Horowitz to a Buy recommendation on October 1.
There were 61 hedge funds out of the 873 tracked by Insider Monkey with $5.18 billion worth of Goldman Sachs stock at the end of the second quarter of 2021. This compares to 77 hedge funds with a total position worth of $5.05 billion in the previous quarter.
There is no doubt that The Goldman Sachs Group (NYSE:GS) is one of the best bank stocks to buy, along with JPMorgan Chase & Co., Wells Fargo & Company, Bank of America Corporation, and Morgan Stanley (NYSE:MS).
According to the Q2 investor letter from investment management firm Ariel Investments, The Goldman Sachs Group, Inc. The fund stated this:
Are dividends worth it?
- The board of directors of a corporation has the discretion to distribute profits to its present shareholders in the form of dividends.
- A dividend is normally a one-time payment to shareholders, but it can also be paid out on a periodic basis.
- Investing in dividend-paying stocks and mutual funds is a safe bet, but it’s not always the case.
- Because the stock price and dividend yield have an inverse connection, investors should be wary of exceptionally high dividend yields.
- High-quality growth firms normally outperform dividend-paying equities in terms of returns, but dividends provide some security to a portfolio.
Do Tesla pay dividends?
On our common stock, Tesla has never paid a dividend. Therefore, we do not expect to distribute any cash dividends in the near future because we aim to keep all future earnings to fund further expansion.
Did Bank of America increase their dividend?
Banking giant Bank of America Corporation (NYSE:BAC) will raise its dividend to US$0.21 per share on September 24th. A 1.9 percent dividend yield isn’t enough to make up for this increase in dividends.
Bank of America’s Dividend Is Well Covered By Earnings
A company’s dividend yield is crucial, but it’s also important to assess whether the current distribution levels can be maintained. Although Bank of America was able to fund its quarterly dividend, free cash flow was not in a good position. We would be wary of depending on this dividend’s long-term viability because cash flow is more essential to us than earnings.
EPS is expected to rise by 4.2 percent in the coming year. Assuming that dividends continue to rise at their current pace, we expect the payout ratio to rise to 30 percent by the end of the year.
Bank of America Has A Solid Track Record
The corporation has a long history of consistently paying dividends. For the last 10 years, the first yearly payment was US$0.04 in 2011, and the most recent was US$0.84. That’s a growth rate of 36 percent every year over the last decade. In other words, dividends have grown rapidly while also showing no significant declines during this time span.
