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Bank Stocks and Dividend Payouts
Bank stocks have always been one the sectors which pay the strongest and most consistent dividends to investors. 2007 was an extremely weak year for bank stocks as both the subprime mortgage lending crisis and narrow interest rate margins decimated earnings for most banks. Listed below are banks (both finanically strong and weak) with their recent dividend yields and forward price-to-earnings ratios which indicates just how low some prices on bank stocks have dropped too. Analysts are mixed on the direction of bank stocks in 2008 with some analysts believing that more mortgage writeoffs and losses are in store making bank stocks risky, while other analysts indicated that bank stocks will increase profits by the end of 2008.
A selection of banks with dividend yields over 3.00% and and Price-to-Earnings ratios of below 25 is listed below:
BANK |
SYMBOL |
YIELD |
P/E RATIO |
|
Key Corp |
KEY |
6.45% |
7.58 |
Washington Mutual |
WM |
15.00% |
5.85 |
Huntington Bancshares |
HBAN |
7.08% |
9.97 |
National City |
NCC |
5.41% |
6.40 |
Corus Bancshares |
CORS |
10.20% |
3.71 |
US Bancorp |
USB |
5.68% |
11.73 |
Fulton Financial |
FULT |
4.89% |
13.23 |
Fifth Third Bancorp |
FITB |
7.18% |
11.90 |
Regions Financial Corp |
RF |
5.59% |
10.67 |
Bank of America |
BA |
5.04% |
18.43 |
SunTrust Banks |
STI |
4.41% |
11.10 |
Citigroup |
C |
6.68% |
8.69 |
JP Morgan Chase |
JPM |
3.69% |
8.94 |
Wachovia Bank |
WB |
6.75% |
8.54 |
IndyMac Bank |
IMB |
18.18% |
n/a |
Countrywide Bank |
CFC |
9.04% |
n/a |
United Bancorp |
UBCP |
5.04% |
n/a |
Beverly Hills Bancorp |
BHBC |
10.85% |
6.59 |
New York Community Bancorp |
NYB |
5.60% |
20.53 |