In this article, we discuss 5 dividend stocks in Michael Price’s portfolio. If you want to read our detailed analysis of MFP Investors’ past performance and Price’s investment strategy, go directly to read 10 Dividend Stock Picks of the Late Billionaire Michael Price’s MFP Investors.
5. Popular, Inc. (NASDAQ:BPOP)
Number of Hedge Fund Holders: 34
Dividend Yield as of May 25: 2.81%
MFP Investors’ Stake Value: $25,609,000
Popular, Inc. (NASDAQ:BPOP) is a financial services company based in Puerto Rico that has operated on the island for over 125 years. MFP Investors started building its position in the company in 2014, with shares worth over $4.7 million. At the end of Q1 2022, the hedge fund held stakes worth over $25.6 million in the company, which accounted for 3.18% of its portfolio.
As per Insider Monkey’s Q1 2022 database, 34 hedge funds held shares in Popular, Inc. (NASDAQ:BPOP), down slightly from 35 in the previous quarter. The consolidated value of these stakes is over $784.6 million.
In February, Popular, Inc. (NASDAQ:BPOP) announced a quarterly dividend of $0.55 per share, reflecting a 22.2% growth from its prior dividend. The company has been increasing its dividend for six consecutive years. The stock’s dividend yield came in at 2.81%, as of the close of May 25.
According to Keefe Bruyette, given the expanding Puerto Rican economy, Popular, Inc. (NASDAQ:BPOP) is well-positioned to reap benefits. In April, the firm lifted its price target on the stock to $115, with an Outperform rating on the shares.
4. BCB Bancorp, Inc. (NASDAQ:BCBP)
Number of Hedge Fund Holders: 12
Dividend Yield as of May 25: 3.39%
MFP Investors’ Stake Value: $18,630,000
BCB Bancorp, Inc. (NASDAQ:BCBP), an American bank holding company, experienced a positive hedge fund sentiment in Q1 2022, as 12 hedge funds tracked by Insider Monkey were bullish on the company, up from 5 in the previous quarter. The consolidated value of these stakes is over $34.5 million. Along with MFP Investors, Renaissance Technologies was also one of the leading shareholders in this New Jersey-based company, with shares worth over $8.5 million.
BCB Bancorp, Inc. (NASDAQ:BCBP) has been paying dividends to shareholders for over a decade now. Currently, the company pays a quarterly dividend of $0.16 per share, in line with its previous dividend. The stock’s dividend yield was recorded at 3.39%, as of the close of May 25.
MFP Investors did not change its position in BCB Bancorp, Inc. (NASDAQ:BCBP) during Q1 2022. The hedge fund held stakes worth over $18.6 million in the company, which accounted for 2.31% of MFP Investors’ portfolio.
3. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 76
Dividend Yield as of May 25: 3.50%
MFP Investors’ Stake Value: $103,102,000
Intel Corporation (NASDAQ:INTC) was the largest holding of MFP Investors in Q1 2022. The hedge fund started building its position in the company during 2011, with shares worth over $1.2 million. In Q1 2022, the fund increased its position in the company by 1%, equaling shares worth over $103.1 million. Intel Corporation (NASDAQ:INTC) accounted for 12.82% of MFP Investors’ portfolio.
Intel Corporation (NASDAQ:INTC) is a Dividend Challenger as it has been increasing its dividend consecutively for the past 7 years. In January, the company announced a 5% hike in its quarterly dividend to $0.365 per share, with a dividend yield of 3.50%, as of the close of May 25. Moreover, the company has been paying dividends to shareholders since 1992. This April, Northland set a $62 price target on Intel Corporation (NASDAQ:INTC), with an Outperform rating on the shares.
As per Insider Monkey’s Q1 2022 data, 76 hedge funds tracked by Insider Monkey held stakes in Intel Corporation (NASDAQ:INTC), up from 72 in the previous quarter. The total value of these stakes is over $3.15 billion. Among these hedge funds, Seth Klarman’s Baupost Group held the largest stake in Intel Corporation (NASDAQ:INTC) in Q1 2022, worth $822.3 million.
2. Kearny Financial Corp. (NASDAQ:KRNY)
Number of Hedge Fund Holders: 16
Dividend Yield as of May 25: 3.64%
MFP Investors’ Stake Value: $2,417,000
Kearny Financial Corp. (NASDAQ:KRNY) is an American bank holding company, headquartered in New Jersey.
At the end of Q1 2022, 16 hedge funds tracked by Insider Monkey held stakes in Kearny Financial Corp. (NASDAQ:KRNY), down from 17 in the previous quarter. These stakes hold a consolidated value of $96.2 million. Among these hedge funds, Renaissance Technologies was the company’s largest shareholder in Q1 2022, with shares worth over $55.8 million.
In 2021, Kearny Financial Corp. (NASDAQ:KRNY) announced a 10% growth in its quarterly dividend to $0.11 per share. In the past five years, the company has increased its dividend at a compound annual rate of 34%. The stock’s dividend yield is 3.64%, as recorded on May 25. At the end of Q1 2022, MFP Investors held stakes worth over $2.4 million in Kearny Financial Corp. (NASDAQ:KRNY), which represented 0.3% of its 13F portfolio.
1. Franklin Resources, Inc. (NYSE:BEN)
Number of Hedge Fund Holders: 30
Dividend Yield as of May 25: 4.47%
MFP Investors’ Stake Value: $12,216,000
Franklin Resources, Inc. (NYSE:BEN) is an American holding company that provides investment services to its customers.
In February, Franklin Resources, Inc. (NYSE:BEN) announced its quarterly dividend of $0.29 per share, having raised it by 4% in 2021. The stocks dividend yield, as of May 25, stood at 4.47%. This April, Citigroup set a $28 price target on Franklin Resources, Inc. (NYSE:BEN), with a Neutral rating on the shares.
MFP Investors started building its position in Franklin Resources, Inc. (NYSE:BEN) during the fourth quarter of 2015, purchasing shares worth over $2 million. At the end of Q1 2022, the hedge fund held 437,530 shares in the company, valued at over $12.2 million. The company represented 1.52% of the hedge fund’s portfolio.
By the end of Q1 2022, 30 hedge funds tracked by Insider Monkey held stakes in Franklin Resources, Inc. (NYSE:BEN), with a total value of roughly $250 million. In the previous quarter, 29 hedge funds held shares in the California-based company, valued at 401.1 million.
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