5 Best Dividend-Paying Stocks Under $50

2. Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund Holders: 87
Share Price as of April 7: $37.9

Wells Fargo & Company (NYSE:WFC) is an American multinational financial services company, based in California. Raymond James upgraded the stock to Strong Buy in April with a $47 price target. The firm mentioned that the bank would be a major beneficiary of the SVB’s fallout last month, which would offer great earnings potential to the bank.

Wells Fargo & Company (NYSE:WFC) is one of the best dividend stocks on our list as it has been making uninterrupted dividend payments to shareholders since 1959. It currently pays a quarterly dividend of $0.30 per share and has a dividend yield of 3.17%, as of April 7.

Wells Fargo & Company (NYSE:WFC) was a popular buy among elite funds in Q4 2022, as 87 funds in Insider Monkey’s database owned investments in the company, up from 77 in the previous quarter. These investments have a value of over $5.5 billion collectively.

Davis Advisers mentioned Wells Fargo & Company (NYSE:WFC) in its annual 2022 investor letter. Here is what the firm has to say:

“Our investment thesis for our next largest bank investment, Wells Fargo, is totally different. As is well known, Wells Fargo & Company (NYSE:WFC) is the country’s third-largest bank, serving one in three U.S. households. Years of regulatory missteps under prior managements resulted in reputational damage, higher-than-average expenses, numerous consent orders, caps on asset growth, all added to the negative impact of low rates on their interest income. However, where others see bad news, we see resiliency and gradual improvement. Wells Fargo’s resiliency is reflected in the fact that despite years of terrible headlines and congressional hearings, Wells Fargo’s core customers stayed put and customer attrition remains extraordinarily low. (Click here to view the full text)