While the S&P 500 offers a dividend yield of 1.5%, the SPDR S&P Bank ETF yields 3.3%, with stocks offering yields well above that level. Even better, those dividends look healthy, with several names poised to grow earnings despite industry headwinds.
Other banks that may be worth a look are Capital One Financial , Popular , Webster Financial , and Western Alliance Bancorp . They are expected to have positive earnings growth, but their yields are less enticing, clocking in between 2.4% and 3.9%. It is no secret that it has been a challenging year for bank stocks. The super regionals have seen their stocks fall by 20% on average, lagging behind the 17% gain in the S&P 500. This spring saw the collapse of three major lenders and remaining banks are expected to see higher funding costs due to higher interest rates as well as increasing regulation aimed to prevent future calamities.
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