5 High-Yield Dividend Stocks to Buy in July

3. Northwest Bancshares, Inc. (NASDAQ:NWBI)

Dividend Yield as of July 13: 6.27%

Northwest Bancshares, Inc. (NASDAQ:NWBI) is an Ohio-based savings bank that provides personal and business banking solutions.

Northwest Bancshares, Inc. (NASDAQ:NWBI) currently pays a quarterly dividend of $0.20 per share, with shares yielding 6.27% as of July 13. Based on its Q1 results, the company has a relatively high payout ratio of 90% but a dividend cut is not expected due to its strong financials. Moreover, the company also reached a payout of 100% in both 2020 and 2016 but managed to grow its dividends in those years as well. Northwest Bancshares, Inc. (NASDAQ:NWBI) has made dividend payments for the past 110 quarters while maintaining a 13-year track record of consistent dividend growth.

In July, B. Riley expressed concerns regarding rising interest rates, which pose risk to loan growth and credit. In light of this, the firm lowered its price target on Northwest Bancshares, Inc. (NASDAQ:NWBI) to $11 with a ‘Neutral’ rating on the shares.

At the end of March 2022, Northwest Bancshares, Inc. (NASDAQ:NWBI) was a part of 12 hedge funds’ portfolios, down from 13 in the previous quarter, according to Insider Monkey’s database. The consolidated value of the stakes held by those 12 hedge funds stood at over $12.5 million. Ken Griffin, D E Shaw, and Ryan Tolkin were some of the company’s major shareholders in Q1.