5 Best Bank Stocks for Dividends
. For a detailed analysis of these companies, go directly to the
Total Value of Hedge Fund Holdings: $21.8 Billion
Dividend Yield as of May 7: 1.10%
Ranking 5th in our list of the 10 best bank stocks for dividends is American Express Company (NYSE:AXP). The New York-based multinational financial services corporation has over 114 million cardholders. American Express Company (NYSE:AXP) has a market cap of $127.7 billion and total revenue in the full year 2020 of $36.1 billion. In April, Deutsche Bank maintained its Buy rating on American Express Company and raised the price target to $158.
There were 60 hedge funds that reported owning stakes in American Express Company (NYSE:AXP) at the end of the fourth quarter, up from 48 funds a quarter earlier. The total value of these stakes at the end of Q4 is $21.8 billion.
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Outlook on banking sector positive but focus on big players
The larger private sector banks are expected to emerge stronger from the pandemic as they strengthened liquidity, made adequate provisions and shored up their capital to weather the crisis, says Unmesh Kulkarni of Julius Baer India.
. Unmesh Kulkarni January 09, 2021 / 09:22 AM IST
With the pandemic setting in the first half of the year 2020, the banking sector was the obvious and immediate victim of the economy s collapse and bore the brunt of the selling in the stock markets. Even as the markets bounced back over the next couple of quarters, the banking sector continued to underperform, with investors preferring to be cautious during lockdown due to uncertainty regarding slippages and asset quality of banks.