5 Cheap Dividend Stocks With High Yields

In this article, we discuss 5 cheap dividend stocks with high yields. If you want to read our detailed analysis of value stocks and their past performance, go directly to read 12 Cheap Dividend Stocks With High Yields. 

5. Medifast, Inc. (NYSE:MED)

P/E Ratio as of May 19: 7.23
Dividend Yield as of May 19: 7.21%

Medifast, Inc. (NYSE:MED) is a Maryland-based nutrition and weight loss company that sells and manufactures related products to its consumers. The company is one of the best dividend stocks on our list as it has raised its dividends every year since 2015. It currently pays a quarterly dividend of $1.65 per share for a dividend yield of 7.21%, as of May 19.

Following the company’s Q1 earnings and its low guidance for the next quarter, DA Davidson maintained a Neutral rating on Medifast, Inc. (NYSE:MED) in May.

As of the close of Q4 2022, 18 hedge funds in Insider Monkey’s database reported having stakes in Medifast, Inc. (NYSE:MED), the same as in the previous quarter. These stakes have a value of over $112.3 million collectively.

4. Verizon Communications Inc. (NYSE:VZ)

P/E Ratio as of May 19: 7.03
Dividend Yield as of May 19: 7.22%

An American multinational telecommunications company, Verizon Communications Inc. (NYSE:VZ) is next on our list of the best dividend stocks. In April, Cowen maintained an Outperform rating on the stock with a $45 price target, highlighting the company’s growing consumer momentum.

Verizon Communications Inc. (NYSE:VZ) currently pays a quarterly dividend of $0.6525 per share with a dividend yield of 7.22%, as recorded on May 19. The company has been growing its dividends consistently for the past 16 years.

At the end of December 2022, 56 hedge funds tracked by Insider Monkey reported having stakes in Verizon Communications Inc. (NYSE:VZ), with a collective value of over $1.5 billion.

Mawer Investment Management mentioned Verizon Communications Inc. (NYSE:VZ) in its Q3 2022 investor letter. Here is what the firm has to say:

“There are a few other segments of our portfolios that displayed weakness in the quarter. Cable and telecommunication companies have been an area that has lagged the broader market as their worlds are increasingly colliding. Companies such as Verizon (NYSE:VZ) has been impacted as wireless operator is spending heavily to attract internet subscribers with fixed wired access and the cable companies are trying to build wireless businesses.”

3. Peoples Bancorp Inc. (NASDAQ:PEBO)

P/E Ratio as of May 19: 6.89
Dividend Yield as of May 19: 6.12%

Peoples Bancorp Inc. (NASDAQ:PEBO) is an American bank holding company, based in Ohio. Janney Montogomery initiated its coverage on the stock in April with a Neutral rating and a $28 price target. The firm highlighted the company’s strong fundamental performance and growth in its franchises.

On April 25, Peoples Bancorp Inc. (NASDAQ:PEBO) grew its quarterly dividend by 3% to $0.39 per share. Through this increase, the company stretched its dividend growth streak to nine years. The stock has a dividend yield of 6.12%, as of May 19.

Insider Monkey’s database shows that 14 hedge funds owned stakes in Peoples Bancorp Inc. (NASDAQ:PEBO) in Q4 2022, compared with 13 in the previous quarter. These stakes have a consolidated value of roughly $21.8 million.

2. KeyCorp (NYSE:KEY)

P/E Ratio as of May 19: 5.83
Dividend Yield as of May 19: 8.13%

KeyCorp (NYSE:KEY) is an Ohio-based retail banking company that provides a wide range of related services to its consumers. The company currently pays a quarterly dividend of $0.205 per share for a dividend yield of 8.13%, as of May 19. It has raised its dividends consistently for the past 12 years, which makes it one of the best dividend stocks on our list.

As of the close of Q4 2022, 33 hedge funds tracked by Insider Monkey reported having stakes in KeyCorp (NYSE:KEY), worth $582 million collectively.

1. Sandy Spring Bancorp, Inc. (NASDAQ:SASR)

P/E Ratio as of May 19: 5.70
Dividend Yield as of May 19: 6.18%

An American bank holding company, Sandy Spring Bancorp, Inc. (NASDAQ:SASR) tops our list of the best dividend stocks. The company currently offers a quarterly dividend of $0.34 per share, with a dividend yield of 6.18%, as of May 19. In 2022, it stretched its dividend growth streak to 12 years.

In April, DA Davidson maintained a Buy rating on Sandy Spring Bancorp, Inc. (NASDAQ:SASR) with a $28 price target, appreciating the company’s recent quarterly earnings. The firm also appreciated the company’s efforts to reduce loan growth and expenses.

As of the close of Q4 2022, 11 hedge funds in Insider Monkey’s database reported having stakes in Sandy Spring Bancorp, Inc. (NASDAQ:SASR), with a value of $28.3 million collectively.

You can also take a look at 11 Best Internet Content Stocks to Buy and 10 Dividend Stocks with 10%+ Yield

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