3 Bank Stocks That Are Passive Income All-Stars

With stock prices down this year, there are some really high-yielding dividends out there, which is why investors may find stocks that pay passive income a good option over growth stocks right now. That way you can collect predictable, consistent income until the market bounces back, at which time most stocks should see a boost.

Bank stocks are well known for paying out good dividends. Here are three that are passive income all-stars.

Investment banking and wealth management company Morgan Stanley (NYSE: MS) recently announced that it plans to increase its quarterly dividend in the third quarter to $0.775 a share, representing an 11% bump from last quarter. That's also happening as the bank authorized a new $20 billion share repurchase program to be carried out over the next few years.

Source Fool.com