BAC & BRK.A: Should you watch these US financial stocks in 2023?

April 14, 2023 01:38 AM PDT | By Akanksha Vashisht

BAC & BRK.A: Should you watch these US financial stocks in 2023? — Image source: Pexels

Summary

Financial stocks allow investors to invest in the financial sector of a country, which is an integral moving part in the working of an economy.

Bank of America, one of US’ largest financial bodies, reported a total revenue of US$ 24.532 billion during the Q4 2022 quarter.

Berkshire Hathaway’s total revenue during the Q4 2022 quarter was US$ 92.628 billion.

Financial stocks give investors a chance to invest in some of the top financial institutions of a nation. These institutions include those establishments that provide insurance services, credit cards, banking, and other operations.

The financial sector is an indication of economic strength for a nation and fulfils the fundamental role of providing seamless working of an economy. Be it providing credit, facilitating transactions or keeping track of the flow of money, all these functions are performed by the financial sector players.

Financial stocks receive attention from most investors as most of these stocks issue dividends and contribute to the wellness of the financial sector. On that note, here are two US financial stocks investors can explore:

Bank of America Corporation

Being one of the biggest financial organizations in the United States, Bank of America operates through various channels. The four major segments of the company include consumer banking, global wealth and investment management, global banking and global markets.

The banking giant has over US$ 2.5 trillion in assets, running its operations across several countries. However, the US forms the primary market for BAC.

BAC financials

The total revenue for the company during the December 2022 quarter was reported to be US$ 24.532 billion, which reflected an annual rise of 6.55%. The net income to common stockholders for the quarter was US$ 6.9 billion. The company will release its first quarter 2023 financial results on April 18.

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Berkshire Hathaway Inc.

Berkshire Hathaway primarily operates in the insurance market, with many other business activities running. Some of the company’s insurance segments include Berkshire Hathaway Primary Group and GEICO, which are both a part of the insurance segment.

BRK Financials

The Warren Buffet-led business has acquired multiple operations through the years, such as Burlington Northern Santa Fe railroads, Berkshire Hathaway Energy and other firms that make up the company’s manufacturing, service and retailing segments.

Berkshire Hathaway reported a total revenue of US$ 92.628 billion during the December 2022 quarter. The net income to common stockholders for this period was US$ 18.164 billion. The company also reported an EBIT of US$ 23.35 billion for the December 2022 quarter.

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