#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 is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.
More- Current Price
- $268.15
- Consensus Rating
- Hold
- Ratings Breakdown
- 10 Buy Ratings, 7 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $251.78 (6.1% Downside)
