In this article, we will be taking a look at 5 financial services dividend champions to buy now. To read our detailed analysis of dividend investing, you can go directly to see the 10 Financial Services Dividend Champions to Buy Now.
5. Southside Bancshares, Inc. (NASDAQ: SBSI)
Number of Hedge Fund Holders: 8
Dividend Yield: 3.48%
Number of Years of Consistent Dividend Increases: 27
Southside Bancshares, Inc. (NASDAQ: SBSI) is the bank holding company for Southside Bank. The bank offers a range of financial services to individuals, businesses, municipal entities, and non-profit organizations. Southside Bancshares, Inc. (NASDAQ: SBSI) ranks 5th on our list of financial services dividend champions to buy now.
In the second quarter of 2021, Southside Bancshares, Inc. (NASDAQ: SBSI) had an EPS of $0.65, missing estimates by $0.04. The company’s revenue was $59.70 million, missing estimates by $0.93 million. Southside Bancshares, Inc. (NASDAQ: SBSI) has gained 5.93% in the past 6 months and 21.84% year to date.
By the end of the second quarter of 2021, 8 hedge funds out of the 873 tracked by Insider Monkey held stakes in Southside Bancshares, Inc. (NASDAQ: SBSI) worth roughly $40 million. This is compared to 7 hedge funds in the previous quarter with a total stake value of approximately $43 million.
4. Community Trust Bancorp, Inc. (NASDAQ: CTBI)
Number of Hedge Fund Holders: 10
Dividend Yield: 3.77%
Number of Years of Consistent Dividend Increases: 40
Community Trust Bancorp, Inc. (NASDAQ: CTBI), Community Trust Bank’s holding company, is next on our list of financial services dividend champions to buy now. The company is based in Kentucky, US, and offers commercial, construction, mortgage, and personal loans, lease-financing, lines of credit, revolving lines of credit, and term loans, as well as other specialized loans and financial products. It ranks 4th on our list.
In the second quarter of 2021, Community Trust Bancorp, Inc. (NASDAQ: CTBI) had an EPS of $1.34, beating estimates by $0.23. The company’s revenue was $55.76 million, up 8.6% year over year and beating estimates by $0.81 million. Community Trust Bancorp, Inc. (NASDAQ: CTBI) has gained 1.22% in the past 6 months and 15.79% year to date.
By the end of the second quarter of 2021, 10 hedge funds out of the 873 tracked by Insider Monkey held stakes in Community Trust Bancorp, Inc. (NASDAQ: CTBI) worth roughly $16 million. This is compared to 9 hedge funds in the previous quarter with a total stake value of approximately $20.1 million.
3. United Bankshares, Inc. (NASDAQ: UBSI)
Number of Hedge Fund Holders: 9
Dividend Yield: 3.8%
Number of Years of Consistent Dividend Increases: 46
United Bankshares, Inc. (NASDAQ: UBSI) is a financial holding company that offers commercial and retail banking products and services in the US, by operating through its Community Banking and Mortgage Banking segments. The company ranks 3rd on our list of financial services dividend champions to buy now.
This February, Raymond James analyst William Wallace upgraded shares of United Bankshares, Inc. (NASDAQ: UBSI) from Market Perform to Outperform. The analyst also placed a $36 price target on United Bankshares, Inc. (NASDAQ: UBSI) shares.
In the second quarter of 2021, United Bankshares, Inc. (NASDAQ: UBSI) had an EPS of $0.73, beating estimates by $0.04. The company’s revenue was $249.36 million but missed estimates by $12.94 million. United Bankshares, Inc. (NASDAQ: UBSI) has gained 14.19% year to date and 41.01%.
By the end of the second quarter of 2021, 9 hedge funds out of the 873 tracked by Insider Monkey held stakes in United Bankshares, Inc. (NASDAQ: UBSI) worth roughly $21 million. This is compared to 9 hedge funds in the previous quarter with a total stake value of approximately $44 million.
2. Mercury General Corporation (NYSE: MCY)
Number of Hedge Fund Holders: 14
Dividend Yield: 4.32%
Number of Years of Consistent Dividend Increases: 33
Mercury General Corporation (NYSE: MCY) writes personal automobile insurance in the US alongside homeowners, commercial automobile, commercial property, and other insurance. The company ranks 2nd on our list of dividend champions to buy now.
In the second quarter of 2021, Mercury General Corporation (NYSE: MCY) had an EPS of $1.13, beating estimates by $0.03. The company’s revenue was $957.34 million, up 16.90% year over year and beating estimates by $134.34 million. Mercury General Corporation (NYSE: MCY) has gained 16.23% year to date and 32.91% in the past year.
By the end of the second quarter of 2021, 14 hedge funds out of the 873 tracked by Insider Monkey held stakes in Mercury General Corporation (NYSE: MCY) worth roughly $175 million. This is compared to 20 hedge funds in the previous quarter with a total stake value of approximately $178 million.
1. People’s United Financial, Inc. (NASDAQ: PBCT)
Number of Hedge Fund Holders: 24
Dividend Yield: 4.57%
Number of Years of Consistent Dividend Increases: 29
People’s United Financial, Inc. (NASDAQ: PBCT), the bank holding company for People’s United Bank, National Association, is next and last on our list of financial services dividend champions to buy now, ranking 1st. The company’s bank operates about 403 branches spread out across the US.
Just this May, analysts at Compass Point raised the price target on shares of People’s United Financial, Inc. (NASDAQ: PBCT) to $19.50. The firm holds a Neutral rating on the stock.
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 29.14% year to date and 57.09% 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.
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