5 Dividend Stocks to Buy Amid the Market Decline

2. Bank of America Corporation (NYSE:BAC)

Dividend Yield as of 10/17: 2.62%

Number of Hedge Fund Holders: 99

Bank of America Corporation (NYSE:BAC) has benefited from the increasing interest rates with greater net interest income. The rapid rate of the raises, however, could eventually cause a recession that might not be as great for Bank of America Corporation (NYSE:BAC)’s earnings in 2023. As a result, the stock is trading at a forward P/E ratio of 9.14 as of 10/17.

While Bank of America Corporation (NYSE:BAC)’s stock could decline if the market declines, the company is still attractive long term given its earnings potential. Bank of America Corporation (NYSE:BAC) also pays a dividend yield of 2.62% as of 10/17.

Bank of America Corporation (NYSE:BAC) ranks #2 on our list of 10 Dividend Stocks to Buy Amid the Market Decline given that 99 hedge funds in our database held shares of the bank at the end of the second quarter.