#1 - JPMorgan Chase (NYSE:JPM)
Heading up this list of bank stocks to buy is JPMorgan Chase & Co. (NYSE: JPM). The bank has over $4 trillion in assets which makes them one of the largest financial services companies in the world.
While being considered a safe blue-chip stock, not even JPMorgan was immune to the sell-off in bank stocks in 2022. However, prior to a March sell-off, JPM stock was up approximately 6% in 2023. That sell-off puts the stock back to the middle of its 52-week range. Analysts give the stock a Moderate Buy rating with a price target of $!50.78 which is an upside of greater than 19%.
The fundamentals of JPM stock are also favorable. The stock trades at a price-to-earnings (P/E) ratio of 10.4x. That’s slightly higher than the sector average. But investors have been getting double-digit earnings growth for that premium in the last five years. And while higher interest rates may suppress earnings growth, investors get a sustainable dividend that currently pays out $4 per share on an annual basis.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.
Read More - Current Price
- $204.79
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $192.05 (6.2% Downside)
