In this article, we will be looking at the 5 best bank dividend stocks. If you want to see our detailed analysis of the banking, and financials sector, you can go directly to the 10 Best Bank Dividend Stocks.
5. Morgan Stanley (NYSE: MS)
Number of Hedge Fund Holders: 79
Dividend Yield: 2.96%
Morgan Stanley (NYSE: MS) is a financial holding company that operates in the investment banking and brokerage industry. It offers financial products and services to a range of consumers including governments and corporations, in the US, Europe, the Middle East, Africa, and Asia. The company ranks 5th on our list of the best bank dividend stocks.
Citigroup’s Keith Horowitz has raised his price target on Morgan Stanley (NYSE: MS) this July to $97 from the previous $88 price target. Horowitz has also retained his Neutral rating on the company’s shares and has commented that Morgan Stanley (NYSE: MS) is maybe the best-positioned bank out there.
In the second quarter of 2021, Morgan Stanley (NYSE: MS) had an EPS of $1.89, beating estimates by $0.23. The company’s revenue was $14.76 billion, up 10.03% year over year and also beating estimates by $763.58 million. Morgan Stanley (NYSE: MS) has also gained 32.78% in the past 6 months and 38.37% year to date.
By the end of the first quarter of 2021, 79 hedge funds out of the 866 tracked by Insider Monkey held stakes in Morgan Stanley (NYSE: MS) worth roughly $5.28 billion. This is compared to 66 hedge funds in the previous quarter with a total stake value of approximately $5.66 billion.
4. Citigroup Inc. (NYSE: C)
Number of Hedge Fund Holders: 90
Dividend Yield: 3.06%
Citigroup Inc. (NYSE: C) is a provider of financial products and services in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through its Global Consumer Banking and Institutional Clients Group segments and ranks 4th on our list of the best bank dividend stocks.
Keefe Bruyette’s David Konrad has an Outperform rating on Citigroup Inc. (NYSE: C) with an $85 price target.
In the second quarter of 2021, Citigroup Inc. (NYSE: C) had an EPS of $2.84, beating estimates by $0.95. The company’s revenue was $17.47 billion, also beating estimates by $273.99 million. Citigroup Inc. (NYSE: C) has also gained 9.52% in the past 6 months and 10.92% year to date.
By the end of the first quarter of 2021, 90 hedge funds out of the 866 tracked by Insider Monkey held stakes in Citigroup Inc. (NYSE: C) worth roughly $6.93 billion. This is compared to 95 hedge funds in the previous quarter with a total stake value of approximately $7.12 billion.
3. Wells Fargo & Company (NYSE: WFC)
Number of Hedge Fund Holders: 96
Dividend Yield: 1.8%
Wells Fargo & Company (NYSE: WFC) offers a diversified range of banking, investment, and mortgage products and services alongside consumer and commercial finance. It has roughly $1.9 trillion in assets and ranks 3rd on our list of the best bank dividend stocks.
Barclays’ Jason Goldberg has an Equal Weight rating on Wells Fargo & Company (NYSE: WFC) shares and has also raised his price target on the stock from $46 to $50 this July, citing the company’s Q2 earnings beat for the development.
In the second quarter of 2021, Wells Fargo & Company (NYSE: WFC) had an EPS of $1.37, beating estimates by $0.44. The company’s revenue was $20.27 billion, up 13.65% year over year and also beating estimates by $2.54 billion. Wells Fargo & Company (NYSE: WFC) has also gained 42.1% in the past 6 months and 50.13% year to date.
By the end of the first quarter of 2021, 96 hedge funds out of the 866 tracked by Insider Monkey held stakes in Wells Fargo & Company (NYSE: WFC) worth roughly $7.45 billion. This is compared to 99 hedge funds in the previous quarter with a total stake value of approximately $8.74 billion.
2. Bank of America Corporation (NYSE: BAC)
Number of Hedge Fund Holders: 97
Dividend Yield: 2%
Bank of America Corporation (NYSE: BAC) is a provider of banking and financial products and services across the globe. The company ranks 2nd on our list of the best bank dividend stocks.
Analyst David Konrad at Keefe Bruyette has assumed coverage of Bank of America Corporation (NYSE: BAC) shares this July with a Market Perform rating. The analyst also placed a $40 price target on the shares.
In the second quarter of 2021, Bank of America Corporation (NYSE: BAC) had an EPS of $1.03, beating estimates by $0.27. The company’s revenue was $21.47 billion, but missing estimates by $330.18 million. Bank of America Corporation (NYSE: BAC) has also gained 21.85% in the past 6 months and 25.54% year to date.
By the end of the first quarter of 2021, 97 hedge funds out of the 866 tracked by Insider Monkey held stakes in Bank of America Corporation (NYSE: BAC) worth roughly $45.3 billion. This is compared to 99 hedge funds in the previous quarter with a total stake value of approximately $35.3 billion.
1. JPMorgan Chase & Co. (NYSE: JPM)
Number of Hedge Fund Holders: 111
Dividend Yield: 2.39%
JPMorgan Chase & Co. (NYSE: JPM) is a global financial services company operating in the diversified banks industry. It has four segments, namely the Consumer and Community Banking, Corporate and Investment Bank, Commerical Banking, and Asset and Wealth Management segments. The company ranks 1st on our list of the best bank dividend stocks.
Credit Suisse has an Outperform rating on JPMorgan Chase & Co. (NYSE: JPM) shares as of this July, alongside a raised price target of $177 versus the previous price target of $170.
In the second quarter of 2021, JPMorgan Chase & Co. (NYSE: JPM) had an EPS of $3.78, beating estimates by $0.62. The company’s revenue was $30.48 billion, also beating estimates by $762.45 million. JPMorgan Chase & Co. (NYSE: JPM) has also gained 14.49% in the past 6 months and 19.68% year to date.
By the end of the first quarter of 2021, 111 hedge funds out of the 866 tracked by Insider Monkey held stakes in JPMorgan Chase & Co. (NYSE: JPM) worth roughly $5.25 billion. This is compared to 112 hedge funds in the previous quarter with a total stake value of approximately $6.96 billion.
You can also take a look at 10 Best Finance Stocks To Buy Now and 10 Best Consumer Finance Stocks To Buy Now.
