Three stocks are topping the S&P 500 index in terms of higher dividend yield Monday. The dividend yield for the benchmark of the U.S. stock market was 1.87% as of Friday.
The first company is Nuveen AMT-Free Municipal Income Fund (NEA, Financial), whose shares closed at $13.81 on Friday with a market capitalization of $3.63 billion. The stock has a forward dividend yield of 4.65% versus the industry median of 4.44%.
The Chicago-based asset management company has paid dividends since March 2003.
On July 1, Nuveen AMT-Free Municipal Income Fund will pay a monthly dividend of 5.4 cents per share to shareholders of record as of June 14, in-line with its previous payout.
The stock also has a price-earnings ratio of 30.63 versus an industry median of 14.02, a price-book ratio of 0.82 versus an industry median of 1.06 and a price-sales ratio of 18.57 compared to an industry median of 3.79.
The stock earned 6% over the past 52 weeks through June 28. Shares are trading above the 200-, 100- and 50-day simple moving average lines. The 52-week range is $12.03 to $13.87.
The 14-day relative strength index of 71 suggests the stock is not far from overbought levels.
GuruFocus assigned a rating of 7 out of 10 for the company's financial strength and a 4 out of 10 rating for its profitability and growth.
The stock has not been rated yet by sell-side analysts.
The second company is Valley National Bancorp (VLY, Financial), whose shares closed at $10.78 on Friday with a market capitalization of $3.57 billion.
The Wayne, New Jersey-based regional bank has a forward dividend yield of 4.08% versus an industry median of 3.19%. Valley National Bancorp has paid dividends since December 1990.
On July 1, Valley National Bancorp will reward its shareholders with a cash quarterly dividend of 11 cents, in-line with its previous payout. In order to benefit shareholders must have been on the company's record no later than June 14.
The stock also has a price-earnings ratio of 11.23 versus an industry median of 11.91, a price-book ratio of 1.11 versus an industry median of 1.05 and a price-sales ratio of 3.33 compared to an industry median of 2.91.
The share price has fallen 12% over the past year through June 28. Nevertheless, it is still above the 200-, 100- and 50-day simple moving average lines. The 52-week range is $8.42 to $13.08 per share.
The 14-day relative strength index of 64 suggests the stock is neither oversold nor overbought.
GuruFocus assigned a rating of 3 out of 10 for financial strength and profitability and growth.
Wall Street issued an overweight recommendation rating with an average target price of $11.34 per share of Valley National Bancorp. The rating means that the stock is foreseen to outperform within 12 months. The average target price reflects 5.2% upside from Friday's closing price.
The third company is Goodyear Tire & Rubber Co. (GT, Financial), whose shares closed at $15.3 on Friday with a market capitalization of approximately $3.56 billion. The forward dividend yield of the stock is 4.18% versus the industry median of 2.71%.
The Akron, Ohio-based international seller of tires has paid dividends from March 1970 to December 2002 and from December 2013 to June 2019. Currently Goodyear pays a 16-cent cash quarterly dividend per common share.
The stock also has a price-earnings ratio of 6.54 versus an industry median of 13.76, a price-sales ratio of 0.24 versus an industry median of 0.60 and an enterprise value-Ebitda ratio of 4.80 versus an industry median of 8.38.
The share price decreased 35% over the past year through June 28 to below the 200-, 100- and 50-day simple moving average lines. The 52-week range is $13.23 to $25.41.
The 14-day relative strength index of 64 suggests the stock is neither oversold nor overbought.
GuruFocus assigned a rating of 5 out of 10 for both the company's financial strength and profitability and growth.
Wall Street issued a hold recommendation rating with an average target price of $18.16 per share of Goodyear Tire & Rubber Co mirroring 18.7% growth from the share price at close on Friday.
Disclosure: I have no positions in any securities mentioned.
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