10 Best Bank Dividend Stocks To Buy Right Now

2. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 98

Bank of America Corporation (NYSE:BAC) is a multinational investment bank and financial services company, based in North Carolina. It is one of the best dividend stocks on our list as the company has never missed a dividend in 27 years. The company offers a quarterly dividend of $0.26 per share and has a dividend yield of 2.74%.

In the fourth quarter of 2024, Bank of America Corporation (NYSE:BAC) saw a rise in revenue to $25.3 billion, up from $22 billion in the same quarter last year. Net income more than doubled, reaching $6.7 billion, compared to $3.1 billion in the previous year. The bank also grew its customer base, adding 213,000 new consumer checking accounts, continuing its streak of six consecutive years of quarterly growth. Furthermore, it returned $2 billion to shareholders through dividends.

In the past 12 months, Bank of America Corporation (NYSE:BAC) has delivered an over 41% return to shareholders and its YRD returns came in at over 4.3%. The company has several competitive advantages that strengthen its market position and protect it from rivals, including both traditional banks and fintech firms. Its broad distribution network, which combines a strong digital platform with a widespread branch presence, enables the bank to expand its low-cost deposit base and attract new customers, driving revenue growth. In addition, its large scale allows for efficient cost management, ensuring steady profitability. The bank’s well-known brand further enhances its attractiveness to current and prospective clients.