3 Best Dividend Stocks to Buy in August

Three dividend stocks I’m buying in August and the hidden opportunity in the stock market right now. Check out our 2020 Dividend Stock Portfolio on M1 Finance 💰 https://mystockmarketbasics.com/joinm1finance

Our Dividend Investing Portfolio is beating the market so far in 2020 and I’ve found three more dividend yielding stocks from what could be the best opportunity of the year. Bank stocks have been slammed this year and the broader financials sector is down 22% compared to the S&P 500 that’s up 2.5% in 2020.

Earnings for bank stocks have been horrible with the group reporting a 77% drop in second-quarter profits compared to the same quarter last year. That’s enough to make it the fourth-worst sector in 11 and send the shares tumbling. Many of these bank stocks have even cut their dividend payments to protect cash flow. This group of dividend stocks could be your best investment of 2020.

But the disconnect is that banks actually did really well on revenue in the last quarter. The sector posted the third-best revenue with a drop of just 0.4% from last year. The problem was that banks are moving so much money into Loan Loss Provisions, a special cash account to protect from loan defaults, that it is absolutely destroying earnings.

The market though is telling us that the recession won’t be so bad. Wall Street expects next year’s earnings to bounce back to 2019 levels and the banks to post a 32% increase in profits…so what’s the deal? The market and the banks can’t both be right!

When the banks see that loan defaults won’t be as high, they’ll start moving money back into earnings from those loan loss accounts. That’s going to cause profits to surge and the share prices to jump higher. The banks that cut their dividends will increase them again and the dividend yield will be very high for investors that buy these stocks now.

I’ll show you all the data behind this and reveal the three dividend stocks to buy now, three bank stocks I’m buying in August.

1:18 Review of our 2020 Dividend Stocks Portfolio
2:56 Why Bank Stocks and Dividend Stocks Fell in 2020
3:58 The Market Disconnect and Huge Opportunity in Bank Stocks
8:36 3 Dividend Stocks to Buy in August

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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.

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