13 Bank Stocks with Highest Dividends

11. Wells Fargo & Company (NYSE:WFC)

Dividend Yield as of April 7: 2.22%

On April 7, JPMorgan lowered its price recommendation on Wells Fargo & Company (NYSE:WFC) to $91 from $99.50. It reiterated a Neutral rating on the shares. The revision came as part of a broader Q1 preview for large-cap banks. The analyst said Q1 results “should be good,” supported by strong market revenue. At the same time, investment banking activity has slowed in recent weeks, reflecting market volatility tied to the war. JPMorgan also expects large bank stocks to “remain choppy” in the near term.

On April 1, Bloomberg reported that after being released from a US asset cap, Wells Fargo moved quickly to use its excess capacity. The bank directed more than $200 billion into the repo market. This came at a time when the financial system needed a large participant, making the timing favorable for both the bank and the broader market. Its increased activity helped ease pressure in the more than $12 trillion repo market, which plays a key role in linking money-market funds, dealers, and US Treasuries.

Regulators, including the Federal Reserve, had already been looking at ways to strengthen this market. Wells Fargo’s expansion added liquidity and improved stability. The bank’s presence in this space has grown quickly. Its primary-dealer assets increased at a faster pace than larger peers such as JPMorgan Chase & Co., Citigroup Inc., and Bank of America Corp., though from a smaller base. It is now one of the top counterparties for US money-market funds and has expanded its secured-financing operations. Overall, the move has supported the smooth functioning of the repo market, which remains a critical part of the financial system. By adding liquidity, the bank has helped reduce the risk of disruptions that could spread across markets.

Wells Fargo & Company (NYSE:WFC) operates as a financial services firm. It offers a broad range of banking, investment, and mortgage products, along with consumer and commercial finance services for individuals, businesses, and institutions.