In this article, we will discuss the 10 dividend stocks to buy according to billionaire Michael Price’s MFP Investors. If you want to read our detailed analysis of these stocks, you can go directly to 10 Dividend Stocks to Buy According to Billionaire Michael Price’s MFP Investors.
5. Banc of California, Inc. (NYSE:BANC)
MFP Investors LLC’s Stake Value: $21,014,000
Percentage of MFP Investors LLC’s 13F Portfolio: 2.43%
Stock Price as of December 8: $20.52
Banc of California, Inc. (NYSE:BANC) is another regional bank in MFP Investor’s portfolio that has been serving customers for the past eight decades. The Santa Ana, California-based bank has 30 branches spread from San Diego to Santa Barbara with 598 employees. Banc of California, Inc. (NYSE:BANC) revealed a six-cent per share quarterly dividend.
The stock has a dividend yield of 1.2%.
Out of the 867 hedge funds being tracked by Insider Monkey, 16 hedge funds have a cumulative stake of $68.455 million in Banc of California, Inc. (NYSE:BANC) as of Q3 2021. This is equivalent to 7.3% of the company’s market capitalization.
4. Popular, Inc. (NASDAQ:BPOP)
MFP Investors LLC’s Stake Value: $24,334,000
Percentage of MFP Investors LLC’s 13F Portfolio: 2.81%
Stock Price as of December 8: $79.76
Popular, Inc. (NASDAQ:BPOP) is a financial services conglomerate operating in Puerto Rico for over 125 years through its 170-plus branches and in the US mainland for over five decades through its 35 branches spread across New Jersey, New York, and Southern Florida.
The bank declared a quarterly dividend of 45 cents on November 16. This gives Popular, Inc. (NASDAQ:BPOP) stock a forward dividend yield of over 2.2%.
MFP Investors LLC initiated a position in the stock in Q1 2014 with 153,700 shares. Since Q1 2020, the hedge fund has been holding 313,296 shares of Popular Inc, and there has been no change in holdings as of Q3 2021. At that time, the average stock price was $49.51, which has increased by over 61% to the current level.
3. CIT Group Inc. (NYSE:CIT)
MFP Investors LLC’s Stake Value: $33,539,000
Percentage of MFP Investors LLC’s 13F Portfolio: 3.87%
Stock Price as of December 8: $49.90
CIT Group Inc. (NYSE:CIT) is a New York-based commercial and consumer bank that operates nearly 60 branches in the Southern California region. The bank announced a merger with First Citizen BancShares, Inc. (NASDAQ:FCNCA) in October 2020, which is expected to be closed by March 1, 2022.
CIT Group Inc. (NYSE:CIT) announced a quarterly dividend of 35 cents per share on October 18. The stock’s dividend yield is 2.92%.
2. Bunge Limited (NYSE:BG)
MFP Investors LLC’s Stake Value: $35,359,000
Percentage of MFP Investors LLC’s 13F Portfolio: 4.08%
Stock Price as of December 8: $87.78
Bunge Limited (NYSE:BG) is an agribusiness and food operator globally. The company buys, stores, processes, transports, and sells agricultural products like corn, wheat, and oilseeds. It also manufactures and sells edible oil-based products like margarine, mayonnaise, milled corn, and rice, etc. Bunge Limited (NYSE:BG) has a headcount of 36,000 employees spread across 40 countries.
Bunge’s dividend yield is 2.39%, as of December 16.
1. Intel Corporation (NASDAQ:INTC)
MFP Investors LLC’s Stake Value: $109,108,000
Percentage of MFP Investors LLC’s 13F Portfolio: 12.63%
Stock Price as of December 8: $52.57
Intel Corporation (NASDAQ:INTC) was founded in 1968 by Gordon Moore and Robert Noyce. The Santa Clara, California-based company is the biggest semiconductor chip manufacturer in the world in terms of revenue. The company scheduled the quarterly dividend payment of 34.75 cents per share on December 1.
Intel’s dividend yield stands at 2.4%.
Intel Corporation (NASDAQ:INTC) was mentioned in the Q3 2021 investor letter of Davis Funds. Here’s what the fund said:
“Semiconductor-related holdings currently include Intel. While each of these businesses is unique, they serve fast-expanding global end markets ranging from e-commerce and AI to cloud computing, mobile technologies and electric vehicles—a set of market opportunities that dwarf this industry’s historical legacy markets in more mature sectors, such as PCs and mobile devices. We are excited by these new, long-tailed areas of future growth for this set of well-resourced, innovative hightechnology companies. In our view, best-inclass operators have successfully made the transition from what were historically cyclical businesses to “growth cyclicals” over the coming decades. Products today are harder to design and manufacture, let alone source given a strained supply chain, making chips more valuable today than before—in some cases by multiples of past pricing. In addition, financially savvy managements have created value by retiring large percentages of their companies’ shares when their stocks were cheap, with some retiring 20–35% over the last seven years alone.”
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