Trading at a still cheap 7.6 times estimated 2023 earnings, Citigroup looks very reasonable in what remains a volatile stock market and in a sector that has dramatically lagged.
Investors receive a 4.56% dividend. The $78 Oppenheimer price target is a Wall Street high. Citigroup stock has a consensus target of $55.72, and the shares ended Tuesday trading at $45.16.
JPMorgan
This stock trades at a still reasonable 10.7 times estimated 2023 earnings. JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm and one of the largest banking institutions in the United States, with about $2.6 trillion in assets.
The company as it is today was formed through the merger of retail bank Chase Manhattan and investment bank J.P. Morgan. The firm has many operating divisions, including investment and corporate banking, asset management, retail financial services, commercial banking, credit cards and financial transaction services.
Top analysts are very positive on the stock, largely because the industry titan faces a continued broad recovery in nearly every aspect of its business:
- Its leading M&A advisory and capital markets product set and market share.
- The massive footprint of corporate and commercial banking customers.
- Its sizable wholesale payments businesses.
The company has proven that it has the wherewithal to continually invest in people, products and platforms to further its market share base, extending its competitive advantage versus most peers.
JPMorgan Chase stock comes with a 2.57% dividend. Oppenheimer has a $186 price objective, and the consensus target is $158.37. The shares closed on Tuesday at $155.88.
PNC Financial Services
This bank has a huge client base and has expanded in a big way over the past decade, and it is among the top 10 largest U.S. banks by assets. PNC Financial Services Group Inc. (NYSE: PNC) operates as a diversified financial services company in the United States through the following three segments.
The Retail Banking segment offers checking, savings and money market accounts, as well as certificates of deposit. It offers residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit, as well as brokerage, insurance and investment and cash management services. This segment serves consumer and small business customers through a network of branches, ATMs, call centers and online and mobile banking channels.
The Corporate & Institutional Banking segment provides secured and unsecured loans, letters of credit and equipment leases, as well as cash and investment management services, receivables and disbursement management services, funds transfer services, international payment services and access to online/mobile information management and reporting. it offers securities underwriting, loan syndications, customer-related trading and mergers and acquisitions and equity capital markets advisory related services, and also commercial loan servicing and technology solutions. It serves midsized and large corporations and government and not-for-profit entities.
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