These 2 Powerhouse Banks Just Declared Dividend Raises, and You Can Still Take Advantage of 1

Core Viewpoint - The recent performance of U.S. banks, particularly Bank of America and PNC Financial Services, indicates a favorable environment for investors, with both institutions announcing dividend increases following successful stress tests by the Federal Reserve [1][2]. Group 1: Bank of America - Bank of America raised its quarterly dividend to $0.28 per share, an increase of $0.02 or 8% from the previous amount [4]. - The company initiated a new stock repurchase program authorizing up to $40 billion, replacing an existing program with over $9 billion remaining [4]. - For Q2, Bank of America reported a revenue increase of 6% to $10.8 billion and a net income rise of 3% to $7.1 billion, with average deposits and loans increasing by approximately 2% [6][5]. - The upcoming dividend will be distributed on September 26, with a yield of 2.5% based on the latest closing share price [8]. Group 2: PNC Financial Services - PNC announced a dividend increase of 6% to $1.70 per share, reflecting the company's financial strength and strategic outlook [10]. - For Q2, PNC's revenue grew nearly 5% to approximately $5.7 billion, while net income surged 11% to over $1.6 billion, despite slower growth in loans and deposits at around 1% [10]. - Analysts project annual revenue growth of over 6% for 2025 and slightly below that for the following year, with net profit expected to rise by 13% and 12% per share, respectively [12]. - PNC's raised dividend will be paid on August 5, yielding a theoretical 3.7% [12].