Long-term investors can find stability, consistency, and growth with bank stocks. While the more extensive money center bank stocks tend to have smaller dividends, it pays to dig a little deeper into the regional bank segment to find better dividends with more room for capital appreciation and income. Regional banks can have more room for growth and the possibility of acquisition. Remember that falling prices equate to a higher dividend yield. It pays to wait for pullback support levels to test. Here are three bank dividend stocks with outsized dividends to watch for.
New York Community Bancorp Inc. (NYSE: NYCB): This regional bank pays a hefty 7.18% annual dividend yield. They acquired Flagstar Bancorp on Dec. 1, 2022, to become one of the nation’s largest regional banks. The Bank of N.T. Butterfield & Son Ltd. (NYSE: NTB): This Bermuda-based offshore regional bank pays a 4.90% annual dividend yield. Fee-based income comprises 35% of its revenues, and securities are around 40% of its earning assets. Its loans have a heavy concentration of floating-rate debt. Canadian Imperial Bank of Commerce (NYSE: CM): This is one of Canada's largest banks, paying a 5.48% annual dividend yield. Its Q1 2023 earnings results released on Feb. 24, 2023, beat EPS estimates by CC$.022, coming in at CC$1.72.
Source: NASDAQ
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