5 Best Bank Dividend Stocks To Buy Now

In this article, we discuss 5 best bank dividend stocks to buy now. If you want to read our detailed analysis of the banking sector and the performance of bank stocks, go directly to read 14 Best Bank Dividend Stocks To Buy Now.

5. American Express Company (NYSE:AXP)

Number of Hedge Fund Holders: 74

American Express Company (NYSE:AXP) is an American bank holding company that provides a range of products and services in the payment industry. The company has a 34-year run of paying regular dividends to shareholders, which makes AXP one of the best dividend stocks on our list. It currently pays a quarterly dividend of $0.60 per share and has a dividend yield of 1.33%, as of December 17.

At the end of Q3 2023, 74 hedge funds tracked by Insider Monkey held investments in American Express Company (NYSE:AXP), up from 73 in the previous quarter. The total value of stakes owned by these hedge funds is over $25.6 billion. Among these hedge funds, Berkshire Hathaway was the company’s leading stakeholder in Q3.

4. Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund Holders: 77

Wells Fargo & Company (NYSE:WFC) is a diversified financial services company that offers a wide array of related services tailored for mid-sized and large corporations. The company pays a quarterly dividend of $0.35 per share and has a dividend yield of 2.78%, as of December 17.

According to Insider Monkey’s database of Q3 2023, 77 hedge funds owned stakes in Wells Fargo & Company (NYSE:WFC), up from 75 in the previous quarter. These stakes are collectively worth over $4.32 billion. With roughly 24 million shares, Harris Associates was the company’s leading stakeholder in Q3.

3. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holders: 79

Citigroup Inc. (NYSE:C) has been paying regular dividends to shareholders since 1990, which makes C one of the best dividend stocks on our list from the banking sector. The global financial services company currently pays a quarterly dividend of $0.53 per share and has a dividend yield of 4.25%, as of December 17. In the third quarter of 2023, the company returned $1.5 billion to shareholders through dividends and share repurchases.

Of the 910 hedge funds in Insider Monkey’s database at the end of Q3 2023, 79 funds owned stakes in Citigroup Inc. (NYSE:C), up from 75 in the previous quarter. The consolidated value of these stakes is nearly $7 billion.

2. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 88

Bank of America Corporation (NYSE:BAC) is a multinational financial services company that operates across various segments of the banking and financial industry. The company pays a quarterly dividend of $0.24 per share and has a dividend yield of 2.86%, as of December 17. It has paid regular dividends to shareholders for the past 24 years.

As of the close of the third quarter of 2023, 88 hedge funds tracked by Insider Monkey reported having stakes in Bank of America Corporation (NYSE:BAC), compared with 90 in the previous quarter. The consolidated value of these stakes is over $31.3 billion.

1. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 106

JPMorgan Chase & Co. (NYSE:JPM) tops our list of the best dividend stocks from the banking sector. The American financial services company offers a quarterly dividend of $1.05 per share and has a dividend yield of 2.54%, as of December 17.

At the end of Q3 2023, 109 hedge funds in Insider Monkey’s database owned stakes in JPMorgan Chase & Co. (NYSE:JPM), up from 106 a quarter earlier. The consolidated value of these stakes is more than $6.6 billion.

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