The banking industry is a critical component of the global economy. It provides a wide range of financial services to individuals and businesses. Additionally, banks play a significant role in facilitating the flow of capital. This is done by accepting deposits and providing loans, mortgages, and other financial products. These transactions generate profits for banks, primarily through interest earned, making the banking industry a stable and reliable investment for many investors.
Investing in bank stocks provides investors with exposure to the banking industry and its potential for long-term growth. Many large banks offer dividends to shareholders, making them an attractive option for income-seeking investors. However, investing in bank stocks also comes with risks, such as exposure to interest rate fluctuations and credit risk. As such, investors should carefully evaluate their investment objectives and risk tolerance before investing in bank stocks.
In recent years, traditional banks have faced increased competition from financial technology (fintech) companies. These companies offer innovative and convenient financial products and services. As a result, it is crucial for investors to stay up-to-date with the competitive landscape of the industry and conduct thorough research and analysis before making any investment decisions. Keeping this in consideration, let’s look at two bank stocks to watch in the stock market today.
Bank Stocks To Buy [Or Avoid] Today
JP Morgan Chase & Co. (JPM Stock)
Leading off, JP Morgan Chase & Co. (JPM) is a multinational investment bank and financial services company that offers a broad range of financial products and services to individuals, businesses, and institutions.
Just this week, the company announced the date and time it will release its first quarter 2023 financial results. In detail, JPM said it is set to report its Q1 2023 financial results on Friday, April 14, 2023, before the U.S. stock market opens. To briefly recap, back in January, JPM reported its previous quarter’s results for Q4 2022. Diving in, the company reported a beat posting an EPS of $3.57 and revenue of $47.4 billion.
Continuing on, during Friday’s afternoon trading session, shares of JPM stock are down 3.53% on the day so far, trading at $126.14 a share.
[Read More] 3 Regional Bank Stocks To Watch Today
Morgan Stanley (MS Stock)
Next, Morgan Stanley (MS) is a leading investment bank and financial services company that provides a wide range of financial products and services to clients worldwide. The company has a strong presence in the investment banking and wealth management sectors.
At the end of January, Morgan Stanley reported that they will release their 1st quarter 2023 financial results also in April. In detail, the company will announce its first quarter 2023 financial results on Wednesday, April 19, 2023, ahead of the U.S. stock market opening bell. To recap, in Q4 2022, MS reported earnings of $1.31 per share, along with revenue of $19.7 billion.
Meanwhile, during Friday afternoon’s trading action, shares of MS stock are trading lower on the day so far by 3.06%, currently trading at $84.35 a share.