In this article, we will be taking a look at 5 cheap blue-chip dividend stocks to invest in. To read our detailed analysis of dividend investing, you can go directly to see the 10 Cheap Blue-Chip Dividend Stocks to Invest In.
5. KeyCorp (NYSE: KEY)
Number of Hedge Fund Holders: 40
Dividend Yield: 3.62%
Share Price as of August 25: $20.41
KeyCorp (NYSE: KEY), the holding company for KeyBank National Association, operates through its Consumer Bank and Commercial Bank segments to provide retail and commercial banking products and services in the US. The company ranks 5th on our list of cheap blue-chip dividend stocks to invest in.
As of this July, Keefe Bruyette’s David Konrad holds a Market Perform rating on shares of KeyCorp (NYSE: KEY), alongside a $21 price target.
In the second quarter of 2021, KeyCorp (NYSE: KEY) had an EPS of $0,72, beating estimates by $0.18. The company’s revenue was $1.77 billion, up 3.26% year over year and beating estimates by $40.52 million. KeyCorp (NYSE: KEY) has gained 25.29% year to date and 63.15% in the past year.
By the end of the second quarter of 2021, 40 hedge funds out of the 873 tracked by Insider Monkey held stakes in KeyCorp (NYSE: KEY) worth roughly $443 million. This is compared to 41 hedge funds in the previous quarter with a total stake value of approximately $565 million.
4. Amcor plc (NYSE: AMCR)
Number of Hedge Fund Holders: 16
Dividend Yield: 3.72%
Share Price as of August 25: $12.62
Amcor plc (NYSE: AMCR) is a producer and seller of packaging products for food, beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries. The company ranks 4th on our list of cheap blue-chip dividend stocks to invest in.
Mark Wilde, an analyst at BMO Capital, this August reiterated his Outperform rating on shares of Amcor plc (NYSE: AMCR). The analyst also holds a $13.50 price target on the shares.
In the fiscal third quarter of 2021, Amcor plc (NYSE: AMCR) had an EPS of $0.18, beating estimates by $0.01. The company’s revenue was $3.21 billion, up 2.1% year over year and beating the previous quarter’s $3.1 billion revenue. Amcor plc (NYSE: AMCR) has gained 11.29% in the past 6 months and 10.90% year to date.
By the end of the second quarter of 2021, 16 hedge funds out of the 873 tracked by Insider Monkey held stakes in Amcor plc (NYSE: AMCR) worth roughly $212 million. This is compared to 16 hedge funds in the previous quarter with a total stake value of approximately $226 million.
3. Huntington Bancshares Incorporated (NASDAQ: HBAN)
Number of Hedge Fund Holders: 33
Dividend Yield: 3.92%
Share Price as of August 25: $15.30
Huntington Bancshares Incorporated (NASDAQ: HBAN), a regional bank holding company, is based in Columbus, Ohio, and ranks 3rd on our list of cheap blue-chip dividend stocks to invest in. The company owns about $123 billion in assets alongside 839 branches.
Ryan Nash, an analyst at Goldman Sachs, this August reinstated coverage of Huntington Bancshares Incorporated (NASDAQ: HBAN) shares with a Buy rating. The analyst also placed an $18 price target on the stock, indicating a 20% upside.
In the second quarter of 2021, Huntington Bancshares Incorporated (NASDAQ: HBAN) had an EPS of -$0.05, missing estimates by $0.35. The company’s revenue was $1.28 billion, up 8.37% year over year and beating estimates by $9.68 million. Huntington Bancshares Incorporated (NASDAQ: HBAN) has gained 21.82% year to date and 59.71% in the past year.
By the end of the second quarter of 2021, 33 hedge funds out of the 873 tracked by Insider Monkey held stakes in Huntington Bancshares Incorporated (NASDAQ: HBAN) worth roughly $443 million. This is compared to 27 hedge funds in the previous quarter with a total stake value of approximately $154 million.
2. People’s United Financial, Inc. (NASDAQ: PBCT)
Number of Hedge Fund Holders: 24
Dividend Yield: 4.51%
Share Price as of August 25: $16.18
People’s United Financial, Inc. (NASDAQ: PBCT) is yet another bank holding company on our list of cheap blue-chip dividend stocks to invest in and is the holding company for People’s United Bank, National Association. The company ranks 2nd on our list and is based in Connecticut.
Compass Point holds a Neutral rating and $19.50 price target on shares of People’s United Financial, Inc. (NASDAQ: PBCT) as of this May.
In the second quarter of 2021, People’s United Financial, Inc. (NASDAQ: PBCT) had an EPS of $0.41, beating estimates by $0.08. The company’s revenue was $479.90 million but missed estimates by $17.70 million. People’s United Financial, Inc. (NASDAQ: PBCT) has gained 25.72% year to date and 49.68% in the past year.
By the end of the second quarter of 2021, 24 hedge funds out of the 873 tracked by Insider Monkey held stakes in People’s United Financial, Inc. (NASDAQ: PBCT) worth roughly $219 million. This is compared to 20 hedge funds in the previous quarter with a total stake value of approximately $208 million.
1. Northwest Bancshares, Inc. (NASDAQ: NWBI)
Number of Hedge Fund Holders: 12
Dividend Yield: 6.12%
Share Price as of August 25: $13.08
Northwest Bancshares, Inc. (NASDAQ: NWBI) is the holding company for Northwest Bank. The company offers personal and business banking solutions and accepts deposits, like checking, savings, money market deposits, term certificates, and individual retirement accounts. It ranks 1st on our list of cheap blue-chip dividend stocks to invest in.
B. Riley analyst Steve Moss holds a Neutral rating and $14 price target on shares of Northwest Bancshares, Inc. (NASDAQ: NWBI) as of this July.
In the second quarter of 2021, Northwest Bancshares, Inc. (NASDAQ: NWBI) had an EPS of $0.24, missing estimates by $0.03. The company’s revenue was $150.44 million, up 12.62% year over year and beating estimates by $19.37 million. Northwest Bancshares, Inc. (NASDAQ: NWBI) has gained 3.32% year to date and 28.24% in the past year.
By the end of the second quarter of 2021, 12 hedge funds out of the 873 tracked by Insider Monkey held stakes in Northwest Bancshares, Inc. (NASDAQ: NWBI) worth roughly $25 million. This is compared to 14 hedge funds in the previous quarter with a total stake value of approximately $33 million.
See also 20 Most Diverse Cities in the US and 10 Best Safe Blue Chip Dividend Stocks.
