BAC, BX, MS among top financial stocks to explore in March

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 BAC, BX, MS among top financial stocks to explore in March
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Highlights

  • Bank of America Corporation (NYSE: BAC) revenue surged 10% YoY in Q4, FY21.

  • Charles Schwab Corporation's (NYSE: SCHW) net revenue rose 13% YoY in Q4, FY21.

  • Morgan Stanley's (NYSE: MS) revenue soared 23% YoY in fiscal 2021

The financial sector has witnessed robust growth in 2021. But after a strong start this year, financial stocks have cooled off lately, dragged down by the overall market decline.

The Fed's anticipated interest rate hikes boosted the sectoral sentiment. A rate hike would increase the banks' margins. In this backdrop, investors expect robust earnings growth and dividend hikes from banks and financial institutions.

Here we explore the top bank stocks that may benefit in the coming days.

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Bank of America Corporation (NYSE: BAC)

The Bank of America Corporation is an investment bank and financial holding company based in Charlotte, North Carolina. Its patrons include individual clients, small and medium businesses.

The shares of the company traded at US$42.70 at 11:03 am ET on March 1, down by 3.39% from their closing price of February 28. Its stock value increased by 23.5% over the past 12 months.

The firm has a market cap of US$368.21 billion, a P/E ratio of 11.99, and a forward one-year P/E ratio of 13.48. Its current yield is 1.87%, and its annualized dividend is US$0.84.

The 52-week highest and lowest stock prices were US$50.11 and US$35.24, respectively. Its trading volume was 69,955,300 on February 28.

The company's total revenue, net of interest expense, surged 10% YoY to US$22.1 billion in Q4, FY21, while its net income came in at US$7.0 billion, or US$0.82 per diluted share. For fiscal 2021, the company's total revenue, net of interest expense, was US$89.1 billion.

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Top financial stocks to explore in March

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Wells Fargo & Company (NYSE: WFC)

Wells Fargo is one of the leading financial services firms based in San Francisco, California. It offers its customers banking, investment, and mortgage products and services.

The stock of the company traded at US$50.875 at 11:16 am ET on March 1, down 4.67% from its previous closing price. The WFC stock rose 43.89% over the past 12 months.

The market cap of the company is US$194.23 billion, the P/E ratio is 10.22, and the forward one-year P/E ratio is 13.51. Its current yield is 1.85%, and its annualized dividend is US$1.00.

The stock saw the highest price of US$60.30 and the lowest price of US$36.34 in the last 52 weeks. Its share volume on February 28 was 31,094,790.

The company's total revenue soared 13% YoY to US$20.85 billion in Q4, FY21, while its net income came in at US$5.75 billion, or US$1.38 per diluted share. For fiscal 2021, the company's total revenue was US$78.49 billion.

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Morgan Stanley (NYSE: MS)

Morgan Stanley is an investment banking and financial services company that provides customers with a range of products and services. It is based in New York.

The shares of the company traded at US$87.64 at 11:22 am ET on March 1, down by 3.42% from their closing price of February 28. Its stock value grew 14.63% over the past 12 months.

The firm has a market cap of US$156.43 billion, a P/E ratio of 10.94, and a forward one-year P/E ratio of 11.78. Its current yield is 2.96%, and its annualized dividend is US$2.80.

The 52-week highest and lowest stock prices were US$109.73 and US$76.00, respectively. Its trading volume was 17,955,120 on February 28.

The company's net revenue jumped around 7% YoY to US$14.52 billion in Q4, FY21, while its net income came in at US$3.69 billion, or US$2.01 per diluted share. For fiscal 2021, the company's net revenue rose 23% YoY to US$59.75 billion.

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Charles Schwab Corporation (NYSE: SCHW)

Charles Schwab is a financial services company that provides clients with banking, commercial banking, investment, and other related services. It is based in Westlake, Texas.

The stock of the company traded at US$79.36 at 11:28 am ET on March 1, down by 6.04% from its previous closing price. The SCHW stock surged 31.76% over the past 12 months.

The market cap of the company is US$150.68 billion, the P/E ratio is 28.21, and the forward one-year P/E ratio is 21.38. Its current yield is 0.93%, and its annualized dividend is US$0.80.

The stock saw the highest price of US$96.24 and the lowest price of US$62.33 in the last 52 weeks. Its share volume on February 28 was 9,401,633.

The company's net revenue increased by 13% YoY to US$4.70 billion in Q4, FY21, while its GAAP net income came in at US$1.58 billion, or US$0.76 per diluted share. For fiscal 2021, the company's revenue rose 58% YoY to US$18.52 billion.

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Financial Stocks: BAC, WFC, MS, SCHW, BX

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Blackstone Inc. (NYSE: BX)

Blackstone is a financial services and investment management firm based in New York. It offers a range of asset management services focused on private equity, real estate, and other related sectors.

The shares of the company traded at US$125.28 at 11:32 am ET on March 1, down by 1.72% from their closing price of February 28. Its stock value ticked up 80.22% over the past 12 months.

The firm has a market cap of US$92.03 billion, a P/E ratio of 15.44, and a forward one-year P/E ratio of 23.39. Its current yield is 4.5%, and its annualized dividend is US$5.80.

The 52-week highest and lowest stock prices were US$149.78 and US$63.71, respectively. Its trading volume was 4,302,560 on February 28.

The company's total revenue was US$5.76 billion in Q4, FY21, while its net income came in at US$2.94 billion, or US$1.92 per diluted share. For fiscal 2021, the company's total revenue was US$22.57 billion.

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Bottomline

The S&P 500 financials sector gained 19.46% in the past 12 months while declining 1.57% YTD. On the other hand, the S&P 500 index decreased by 8.23% YTD. The market is expected to remain volatile in the coming days due to the elevated geopolitical tensions.

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