The financial sector comprises a wide variety of companies, including those involved in banking, asset management, insurance, and other financial services. This sector represents 8.73 percent of the S&P 500 Index’s total market capitalization.
Here, we explore ten large financial stocks listed in the US market.
JPMorgan Chase & Co. (NYSE: JPM)
JPMorgan provides investment, commercial banking and financial services. The New York-based company makes generated US$122.9 billion in revenue during 2020 and has assets worth US$3.7 trillion.
JP Morgan has US$460.58 billion in market capitalization. Its stock has a 52-week trading range of US$90.78 to US$167.44. The stock gained 20.47 percent year to date. It has a PE ratio of 12.07.
In the first quarter, JP Morgan’s managed net revenue was US$33.12 billion while net income totaled US$14.30 billion.
Bank of America (NYSE:BAC)
This investment banking and financial services company caters to approximately 66 million consumers and businesses. Bank of America operates through 4,300 retail financial centers spread across 35 countries.
The North Carolina-based company has US$347.85 in market capitalization and a PE ratio of 17.42. Its share price gained 35.05 percent year to date. The stock traded in the range of US$22.39 to US$43.49 during the 52-week period.
Bank of America had US$2.8 trillion in assets and generated revenue of US$85.5 billion in 2020.
The company earned US$8.1 billion in net income on US$22.8 billion revenue during its first quarter.
Wells Fargo & Company (NYSE: WFC)
The financial service company’s business includes banking, investment and mortgage products and services. Wells Fargo has over US$1.9 trillion worth of assets and generated US$72.3 billion in revenue in 2020.
The California-based company’s market capitalization is US$186.83 billion. It has a PE ratio of 30.64. The stock grew 50.4 percent this year and had a 52-week trading range of US$20.76 to US$48.13.
Wells Fargo booked a net income of US$4.74 billion, or US$1.05 per share, in its first quarter on revenue of US$18.06 billion.
Morgan Stanley (NYSE: MS)
Morgan Stanley is a New York-based investment banking company that provides securities and asset management services. Recently, it acquired investment management firm Eaton Vance Corp. for US$7 billion and electronic trading platform E*TRADE Financial Corporation for US$13 billion.
Morgan Stanley has US$162.44 billion in market value and a PE ratio of 11.42. The stock returned 27.31 percent year to date. The share price rallied up to US$94.27 from US$45.86 during the 52 weeks.
In the first quarter ended March, Morgan Stanley booked net revenues of US$15.7 billion and net income of US$4.1 billion or US$2.19 per diluted share. The company had more than US$1 trillion assets at the end of 2020 and made approximately US$48 billion in revenue.
Citigroup Inc. (NYSE: C)
The New York-based bank provides retail banking as well as investment and corporate banking services. In 2020, Citigroup had operations in 96 countries and facilitated approximately US$4 trillion in financial flows daily. The company generated revenue of US$74.3 billion in 2020.
Meanwhile, Citigroup recently announced its plans to exit consumer business franchises in 13 markets across Asia and Europe, the Middle East and Africa as the company looks to focus more on its wealth management business.
Citigroup’s market capitalization totals US$146.96 billion. It has a PE ratio of 9.55. The stock gained 15.91 percent year to date. The shares traded in the range of US$40.49 to US$80.29 during the 52-week period.
In the first quarter, Citigroup earned US$7.94 billion, or US$3.62 per share, in net income from a revenue of US$19.33 billion.
The Charles Schwab Corporation (NYSE: SCHW)
The Texas-based financial services company’s business includes banking, wealth management, securities brokerage services. It has 31.9 million active brokerage accounts, 1.6 million banking accounts and US$7.07 trillion in client assets.
Charles Schwab has US$138.47 billion in market capitalization and PE ratio of 32.34. Its stock returned 38.43 percent year to date and traded in the range of US$31.63 to US$76.37 in the 52 weeks.
The company reported a net income of US$1.48 billion, or 73 cents per share, during the first quarter on net revenues of US$4.71 billion.
American Express (NYSE: AXP)
The New York-based financial services company provides credit and charge cards. In 2020, American Express issued 68.9 million cards and reported US$36 billion in total revenue, net of interest.
American Express’s market valuation totals US$134.71 billion and has a PE ratio of 27.49. The stock returned 39.33 percent year to date and traded in the range of US$89.11 and US$168.30 during the 52-week period.
In the first quarter, American Express reported total revenue of US$9.06 billion, net of interest expense. Net income was US$2.24 billion, or US$2.74 per share.
BlackRock, Inc. (NYSE:BLK)
BlackRock provides risk management, investment management and advisory services. As of March 31, the investment management company had approximately US$9 trillion in assets under management.
The New York-based company’s market value totals US$132.07 billion. It has a PE ratio of 25.09. The stock price increased by 20 percent YTD. During the 52-week period, its shares traded in the range of US$528.63 and US$890.00.
Black Rock reported total revenue of US$4.39 billion in its first quarter. Net income was US$1.19 billion, or US$7.77 per share.