7 Astonishing 'Strong Buy' Stocks That Provide Safety and Fat Dividends for Passive Income

The company provides its products primarily under the Apt. 9, Croft & Barrow, Jumping Beans, SO, and Sonoma Goods for Life brand names, as well as Food Network, LC Lauren Conrad, Nine West and Simply Vera Vera Wang.

Recently, several news organizations reported that Oak Street Real Estate Capital made an offer to buy $2 billion worth of its stores and lease them back to Kohl’s.

Kohl’s stock comes with a 7.06% dividend. Baird’s target price of $40 is well above the $31.00 consensus target. Shares closed on Wednesday at $27.90.

New York Community Bancorp

This somewhat off-the-radar company pays a huge dividend and is an attractive idea for investors also looking to own financials now. New York Community Bancorp Inc. (NYSE: NYCB) operates as the bank holding company for New York Community Bank, which provides banking products and services in New York, New Jersey, Ohio, Florida and Arizona.

The company accepts various deposit products, such as interest-bearing checking and money market, savings, non-interest-bearing and individual retirement accounts, as well as certificates of deposit. Its loan products include multifamily loans; commercial real estate loans; specialty finance loans and leases; and commercial and industrial loans; acquisition, development and construction loans; one-to-four family loans; and consumer loans.

The company also offers annuities, life and long-term care insurance products and mutual funds; cash management products; and online, mobile and phone banking services. It primarily serves individuals, small and midsize businesses, and professional associations through a network of 237 community bank branches and 340 ATM locations.

Shareholders receive a 7.20% dividend. The BofA Securities price target is $11. That is shy of the $11.36 consensus target. New York Community Bancorp stock ended Wednesday trading at $9.36.

While a few of these top companies are somewhat off the radar, they all have a reasonably strong moat around their businesses. These seven stocks offer investors outstanding entry points and some of the biggest dividends, and they are Buy-rated at top Wall Street firms.

We are in one of the worst economic periods in America in decades. Profligate government spending combined with a Federal Reserve that never saw the wave of inflation coming until it was too late (and even admitted it) and now is likely forced to throw the economy in a deep recession. Given that, buying stocks that will pay dependable dividends until this mess is sorted out makes total sense now.

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