5 Bank Dividend Stocks to Diversify Your Portfolio

4. U.S. Bancorp (NYSE:USB)

Number of Hedge Fund Holders: 42

Dividend Yield: 3.2%

U.S. Bancorp (NYSE:USB) is a diversified banking company operating in the US. The company offers ancillary services, alongside mainstream financial products and services, comprising capital markets, treasury management, and a range of other services. It has successfully raised its dividend for the past 11 years, making it one of the more reliable bank dividend stocks to diversify your portfolio.

JPMorgan’s Vivek Juneja holds an Overweight rating on U.S. Bancorp (NYSE:USB) shares as of this February.

According to analyst Juneja, the bank is set to benefit from higher interest rates which will drive up its earnings this year. The company is also venturing into new growth opportunities through its recent partnership with Microsoft on banking with cloud computing.

Our hedge fund data shows 42 hedge funds long U.S. Bancorp (NYSE:USB) in the third quarter, compared to 41 hedge funds in the previous quarter. Their total stake values were $8.4 billion and $8.3 billion, respectively.