Are These 2 Bank Stocks Screaming Buys After Their Dividend Raises?
Nearly all at once, it seems, a big group of banks declared dividend raises earlier this summer. That's because 23 major lenders in this country were subject to the Federal Reserve's latest annual stress test. All of them passed, meaning that they are capitalized adequately to withstand a relatively high degree of economic pressure.
With those passing grades slapped on their financials, more than a few were quick to hike their payouts. Let's look at two of the more notable bank dividend raises: those of the nation's second biggest bank, Bank of America (NYSE: BAC), and retail finance specialist Synchrony Financial (NYSE: SYF). Do these increases strengthen the buy case for either stock?
In mid-July, Bank of America declared that its next payout would be $0.24 per share, or 9% higher than before.
Source Fool.com
