5 Dividend Stocks With Over 2% Yield

2. Bank of America Corporation (NYSE:BAC)

Dividend Yield as of September 27: 2.88%

Number of Hedge Funds Holders: 99

Total Value of Hedge Fund Holdings: 35.9 billion

Bank of America Corporation (NYSE:BAC) is a multinational investment bank that also offers multiple financial services. As of September 27, the stock has a dividend yield of 2.88%.

Among the hedge funds tracked by Insider Monkey in Q2 2022, 99 funds were bullish on Bank of America (NYSE:BAC), with stakes equaling $35.9 billion. Warren Buffett’s Berkshire Hathaway is the largest Bank of America (NYSE:BAC) stakeholder, with shares worth $31.4 billion.

Here is what ClearBridge Dividend Strategy has to say about Bank of America Corporation (NYSE:BAC) in its Q2 2022 investor letter:

In the second quarter we made a sizable add to our position in Bank of America (NYSE:BAC) as our bank holdings have significant leverage to rising interest rates. The Fed, unfortunately, was late to realize inflation’s magnitude, maintaining for far too long that inflationary pressures were merely transitory. This mistake caused inflation to accelerate, necessitating a larger intervention than if the Fed had moved sooner.