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 the performance of dividend stocks in the past, go directly to read 13 Best Bank Dividend Stocks To Buy Now. 

5. The Goldman Sachs Group, Inc. (NYSE:GS)

Number of Hedge Fund Holders: 74
Dividend Yield as of March 17: 3.17%

The Goldman Sachs Group, Inc. (NYSE:GS) is an American multinational investment bank and financial services company. The company currently pays a quarterly dividend of $2.50 per share and has a dividend yield of 3.17%, as of March 17. It is among the best bank dividend stocks on our list.

In March, BofA raised its price target on The Goldman Sachs Group, Inc. (NYSE:GS) to $425 with a Buy rating on the shares, presenting a positive outlook for the company.

At the end of Q4 2022, 74 hedge funds in Insider Monkey’s database owned stakes in The Goldman Sachs Group, Inc. (NYSE:GS), up from 69 in the previous quarter. The collective value of these stakes is roughly $5 billion. Ken Griffin and Cliff Asness were some of the company’s most prominent stakeholders in Q4.

Here is what Manole Capital Management had to say about The Goldman Sachs Group, Inc. (NYSE:GS) in its Q3 2022 investor letter:

“Back in 2019, The Goldman Sachs Group, Inc. (NYSE:GS) made a splash in the card industry by working with Apple and MasterCard on a credit card. The actual card is fairly sleek (as you can see below), as customers names are etched into an Apple titanium card. The no-fee card generated a lot of hype, as many early users were quick to post their latest card on various social media sites.

The initial goal of Marcus (back in 2016) was to leverage Goldman’s wonderful name brand and build a full-service digital bank. This card was a large piece of GS’s ambitions to grow its retail banking franchise called Marcus. After 5 years, Marcus now has 14 million customers and $16 billion in loan balances. Surprisingly, Marcus now represents nearly 20% of the firm’s total revenue.

We thought it would be interesting to look how the Apple Card is doing in terms of loans and exposures. With over $100 billion in assets, this has been a successful source of cheap deposits for GS. Despite having an institutional / “white shoe” brand in the investment banking and trading world, GS’s Apple Card has been a disappointment.” (Click here to read the full text)