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3 Banking Stocks For Your May 2023 Watchlist

Banking stocks to watch in the stock market now.

The banking sector plays a crucial role in our economy and touches the lives of almost everyone. It consists of banks that assist individuals and businesses with their financial needs, such as saving money, taking out loans, and investing. Bank stocks are shares of these financial institutions that you can buy and sell in the stock market. When you invest in bank stocks, you’re putting your money into these companies with the hope that they will grow and generate profits.

Investing in bank stocks can be a smart move for many people, especially since banks tend to make money even during economic downturns. Additionally, bank stocks often pay dividends, which means they distribute a portion of their earnings back to their shareholders. This can provide a steady stream of income for investors, making bank stocks attractive to those looking for a balance between growth and income.

If you’re considering investing in the stock market, exploring bank stocks might be a good starting point. It’s essential to remember that investing always comes with risks, so it’s crucial to do your research and make informed decisions. Take the time to learn about each bank’s financial performance, the overall health of the banking sector, and any potential challenges they may face in the future. Considering this, let’s look at three banking stocks that are trending in the stock market today.

Banking Stocks To Watch Right Now

Truist Financial (TFC Stock)

First, Truist Financial Corporation (TFC) is a leading financial services company formed by the merger of BB&T and SunTrust Banks in 2019. The company offers a wide range of banking, lending, and investment services to individuals and businesses, making it one of the largest regional banks in the United States.

Last month, Truist Financial announced its first quarter 2023 financial results. Diving in, the company reported 1st quarter 2023 earnings of $1.09 per share, along with revenue of $8.0 billion. Versus Wall Street’s estimates for Q1 2023, which were earnings of $1.13 per share, with revenue estimates of $6.1 billion. Furthermore, Truist Financial also noted that revenue increased by 45.8% versus the same period, the previous year.

On Friday morning, shares of TFC stock are trading higher off the open by 6.41% so far at $27.88 a share.

Source: TD Ameritrade TOS

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Morgan Stanley (MS Stock)

Next, Morgan Stanley (MS) is a global financial services firm known for its expertise in investment banking, wealth management, and trading. The company works with a diverse clientele, including governments, corporations, and individuals, providing financial advice and helping them manage and grow their wealth.

In April, Morgan Stanley announced a beat for its first quarter 2023 earnings results. Specifically, the company reported earnings of $1.70 per share versus estimates of $1.67 per share. Additionally, Morgan Stanley notched in revenue of $22.6 billion versus analyst estimates of $14.1 billion. As a result, revenue for the quarter advanced by 48.0% on a year-over-year basis.

Meanwhile, during Friday morning’s trading action, shares of MS stock opened higher on the day so far by 2.11%, trading at $84.28 a share.

Source: TD Ameritrade TOS

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Citigroup (C Stock)

Last but not least, Citigroup Inc. (C) is a multinational investment bank and financial services corporation that operates worldwide. With a vast network of branches and services, Citigroup offers various financial products and services such as retail banking, credit cards, corporate and investment banking, and wealth management to a broad range of customers.

Last month, Citigroup also reported its first quarter 2023 financial results. The company posted better-than-expected Q1 2023 results reporting earnings of $1.86 per share, on revenue of $37.5 billion. For context, Wall Street’s consensus estimates were an EPS of $1.66 per share, with revenue of $2.0 billion. With that, Citigroup also reported that revenue increased by 74.7% compared to the same period, the prior year.

On Friday morning shares of Citigroup stock popped higher off the open by 2.72%, currently trading at $46.12 a share.

Source: TD Ameritrade TOS

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By Joe Samuel

Joe Samuel is a dedicated stock market researcher and financial contributor. His love for the stock market started at a young age learning from his grandfather. Joe earned a bachelor of science degree in corporate finance and business management. After finishing college, he went the route of an entrepreneur starting numerous businesses and eventually became a financial contributor to a number of outlets including Seeking Alpha,, and actively contributes to FactSet. At, Joe looks for emerging stories. One of his traits is identifying new trends before they become mainstream. Whether it’s a biopharmaceutical company debuting a novel treatment or the next technology start-up developing a new platform, Joe looks to be on the cutting edge of that trend.

After years of living in New York, he made the move to Miami, Florida where he’s become an active member of the finance community. Joe has worked with early-stage companies in marketing and consulting capacities, which has given him an opportunity to see what makes companies tick. His viewpoint is that while corporate news is vital to any investment, it’s what isn’t “right in front of you” that can make a good investment great. His approach to the markets is one that aims to deliver information that might not be well-known. But through deep research and diligence, Joe has written about and been able to uncover time-sensitive information when seconds matter in the stock market today.

Joe enjoys covering several stock market sectors. These include commodities, finance, biotechnology, and technology; specifically AI & machine learning. His no-nonsense approach to the market gives readers a cut and dry view of the news that matters most and topics beginning to emerge as new trends in the stock market. He was early to the table with calls on things like the last gold rush in 2019 and has been able to identify influential events and how they could impact certain industries.

During his free time, he enjoys spending time with his family and polishing up one new stock market trends. He’s also an avid car enthusiast with a passion for classic and muscle cars.

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