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These bank stocks yield more than 5% — and they are ‘poised to thrive,’ Piper Sandler says

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SPDR S&P Regional Banking ETF,S&P 500 Index,Brookline Bancorp Inc

The firm called out a handful of bank stocks that offer attractive dividend yields.

Regional bank stocks are having an underwhelming year, but investors who are on the hunt for good dividend payers might find a few gems, according to Piper Sandler. The SPDR S & P Regional Banking ETF is off by about 1% in 2024, paling in comparison to the tech-driven 17% surge for the S & P 500 . But don't just focus on the banks' performance — their rich dividends can help boost investors' portfolios.

Fitzgibbon highlighted several reasons why his team prefers the Boston-based bank. "We believe that Brookline is a high-quality commercial bank with steadily improving profitability metrics," he wrote. "We think BRKL operates in desirable markets and is situated well to take share from larger banks." Fitzgibbon also thinks the company "manages risk well" and should pull through the current environment better than most banks.

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