American Express
This stock has backed up recently and is offering the best entry point since late last year, despite posting solid second-quarter results. American Express Co. (NYSE: AXP) provides charge and credit payment card products and travel-related services worldwide. Its products and services include payment and financing products network services accounts payable expense management products and services, and travel and lifestyle services.
The company’s products and services also include merchant acquisition and processing, servicing and settlement, point-of-sale marketing and information products and services for merchants, and fraud prevention services, as well as the design and operation of customer loyalty programs. It sells its products and services to consumers, small businesses, midsized companies and large corporations through mobile and online applications, third-party vendors and business partners, direct mail, telephone, in-house sales teams and direct response advertising.
Shareholders receive a 1.53% dividend. Morgan Stanley has set a $188 price target, and the consensus target for American Express stock is $181.46. Thursday’s closing share price was $154.71.
Bank of America
Buffett owns a stunning billion shares of this bank, which posted solid second-quarter quarter results. Bank of America Corp. (NYSE: BAC) is a ubiquitous presence in the United States, providing various banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, corporations and governments in the United States and internationally. It operates 5,100 banking centers, 16,300 ATMs, call centers and online and mobile banking platforms.
Bank of America has expanded into several new U.S. markets, with scale across the country positioning it ideally to benefit from accelerating loan growth over the next two years. Moreover, unlike smaller peers, scale allows the bank to increase investment substantially over the next few years without notably jeopardizing returns, driving further market share gains.
The dividend yield here is 3.36%. Oppenheimer’s $49 target price is higher than the $32.95 consensus target. Bank of America stock closed on Thursday at $28.05.
Capital One Financial
This top financial stock has spent years building and maintaining a strong profile and brand with consumers. Capital One Financial Corp. (NYSE: COF) operates as the financial services holding company for the Capital One Bank (USA) and Capital One, which provides various financial products and services in the United States, Canada and the United Kingdom.
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