5 Best Bank Dividend Stocks to Buy Now

In this article, we discuss 5 best bank dividend stocks to buy now. If you want to read our detailed analysis of the banking sector and its outlook, go directly to read 12 Best Bank Dividend Stocks to Buy Now.

5. The PNC Financial Services Group, Inc. (NYSE:PNC)

Dividend Yield as of October 31: 3.69%

The PNC Financial Services Group, Inc. (NYSE:PNC) is an American bank holding company and financial services corporation. The company is one of the best dividend stocks to buy as it has been paying dividends to shareholders consistently for the past 30 years, compared with a sector median of 13 years. Moreover, the company has raised its payouts for 12 years in a row. Currently, it pays a quarterly dividend of $1.50 per share and has a dividend yield of 3.69%, as of October 31.

In Q3 2022, The PNC Financial Services Group, Inc. (NYSE:PNC) reported revenue of $5.55 billion, up 6.7% from the same period last year. The company returned $1.7 billion to shareholders during the quarter, $600 million of which represented dividend payments.

In October, JPMorgan maintained an Overweight rating on The PNC Financial Services Group, Inc. (NYSE:PNC) with a $171.50 price target, highlighting the company’s strong fundamentals in a rising interest rate period.

At the end of Q2 2022, 42 hedge funds tracked by Insider Monkey reported owning stakes in The PNC Financial Services Group, Inc. (NYSE:PNC), compared with 49 in the previous quarter. These stakes have a total value of roughly $593 million. D E Shaw was the company’s leading stakeholder in Q2.