10 Best Bank Dividend Stocks To Buy Right Now

5. Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund Holders: 72

Wells Fargo & Company (NYSE:WFC) is a California-based financial services company that serves over 70 million customers globally. While consumer banking remains the company’s primary revenue driver, its investment banking segment is emerging as a key growth factor, with investment banking fees increasing by 59% year over year in the most recent quarter.

In the fourth quarter of 2024, Wells Fargo & Company (NYSE:WFC) reported revenue of $20.3 billion, which fell slightly by 0.5% from the same period last year. However, the company’s net income grew to $5.07 billion, from $3.4 billion in the prior-year period. It reported robust growth in fee-based revenue, which rose 15% year over year, and helped counterbalance the anticipated decline in net interest income. Operating expenses declined compared to the prior year, while credit trends remained relatively stable. The company maintained substantial excess capital, ending the year with an 11.1% CET1 ratio.

Wells Fargo & Company (NYSE:WFC) has recently prioritized strengthening regulatory compliance and improving its risk management framework. The company is also investing in technological advancements to maintain its competitive edge, especially against nonbank competitors that operate with fewer regulatory restrictions. Its long-term success is driven by a combination of regulatory adherence, effective capital management, strategic positioning, and robust risk oversight.

Wells Fargo & Company (NYSE:WFC) is one of the best dividend stocks on our list as the company has been making regular dividend payments since 1988. Its quarterly dividend currently comes in at $0.40 per share for a dividend yield of 2.03%, as of February 13.