Buy These 5 Big Dividend Paying Bank Stocks Now – 24/7 Wall St.

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The stock market is on pins and needles as interest rates have skyrocketed. While a huge increase would be dangerous for some sectors, the reality is that it looks like the Federal Reserve will start raising rates this year and accelerate the reduction of the quantitative easing program much faster than expected.

The banking industry is a sector that likes rising interest rates. When interest rates are higher, banks make more money, taking advantage of the difference between the interest banks pay customers and the interest banks can earn by investing.

We sifted through our 24/7 Wall St. research database for Buy-rated bank stocks that also pay the highest dividends. When you combine the benefits of rising interest rates and an opening up and improving economy, bank stocks could be on the verge of an outsized total return.

It is important to remember that no analyst report should be used as the sole basis for any buy or sell decision.

Citigroup

Shares of this leading bank have rebounded from their lows but appear poised to rise significantly this year. Citigroup Inc. (NYSE: C) is one of the world’s leading diversified financial services companies providing consumers, businesses and governments with a wide range of financial products and services.

Citigroup offers services such as banking and consumer credit, merchant and investment banking, securities brokerage, transaction services and wealth management. It operates and operates in more than 160 countries and jurisdictions in North America, Latin America, Asia and beyond.

Trading at a still fairly cheap price of 8.7 times estimated earnings in 2022, this stock looks very reasonable in what remains a volatile stock market and in an industry that has fallen significantly behind.

Investors in Citigroup shares receive a 3.25% dividend. The Credit Suisse team has a price target of $ 76 and the consensus target is $ 81.74. The shares closed trading on Thursday at $ 64.91.

READ ALSO: 5 MLP With Huge Dividends To Buy Now As Oil Skyrockets On OPEC Deal

Citizens’ finance

It remains a top financial choice on Wall Street. Citizens Financial Group Inc. (NYSE: CFG) operates approximately 2,700 ATMs and 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions, as well as through online banking, telephone and mobile, and operates approximately 130 retailers. and commercial offices outside branches.


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