Bank of America 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.
The bank 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.
Shareholders receive a 1.95% dividend. The J.P. Morgan target price of $53.50 compares with a $51.04 consensus target. Bank of America stock retreated over 4% on Thursday to close at $41.22.
American Express
This is another company that can perform extremely well in a rising interest rate environment, and it makes up almost 8% of Berkshire Hathaway. American Express Co. (NYSE: AXP) provides charge and credit payment card products and travelelated 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 comprise 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.
American Express stock investors receive a 1.10% yield. The $223 Morgan Stanley price target is well above the $187 consensus target. The shares closed trading on Thursday at $200.37.
Coca-Cola
This company has remained a top Warren Buffet holding for years, and he owns a huge 400 million shares not only offers safety. Coca-Cola Co. (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands. It has an incredibly strong worldwide brand, with 40% overseas sales.
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