Top Bank Stocks To Follow Today – March 16th

Today, investors are encouraged to keep an eye on three notable bank stocks: Invesco QQQ, JPMorgan Chase & Co., and Bank of America. This selection is based on insights from MarketBeat’s stock screener tool. Bank stocks represent a stake in financial institutions, allowing shareholders to benefit from the financial successes of these banks. Typically, these stocks are appealing as they can provide income through dividends and potential growth through capital gains. However, they can also be influenced by various economic conditions and regulatory changes that specifically affect the banking industry.

Invesco QQQ (QQQ)

Invesco QQQ Trust, Series 1, is a unit investment trust that offers shares known as Nasdaq-100 Index Tracking Stock. The main goal of the Trust is to deliver investment results that align with the price and yield of the Nasdaq-100 Index. Investors can buy units representing partial interests in the Trust’s portfolio, which mirrors the majority of the securities within the Nasdaq-100 Index.

As of mid-day trading on Friday, NASDAQ:QQQ saw an increase of $11.32, bringing its price to $479.66. The stock experienced a trading volume of 43,464,229 shares, surpassing its usual volume of 34,911,953 shares. Invesco QQQ has recorded a low of $413.07 and a high of $540.81 in the past year. Its fifty-day and two-hundred-day moving averages stand at $514.89 and $503.85, respectively. The market capitalization is approximately $302.59 billion, with a price-to-earnings (P/E) ratio of 30.74 and a beta of 1.11.

JPMorgan Chase & Co. (JPM)

JPMorgan Chase & Co. operates as a financial holding company, providing a broad range of financial and investment banking services. Their offerings include investment banking products and services across all capital markets, such as corporate strategy advice, equity and debt market capital raising, market-making for cash and derivative securities, and brokerage and research services.

During mid-day trading, JPM stock rose by $7.75 to reach $232.94. About 11,956,730 shares traded hands, compared to its average of 8,838,457 shares. The stock has a 52-week low of $179.20 and a high of $280.25. Key financial ratios include a debt-to-equity ratio of 1.24, a current ratio of 0.88, and a quick ratio of 0.89. The market cap of JPMorgan Chase & Co. is approximately $651.31 billion, with an impressive P/E ratio of 11.80.

Bank of America (BAC)

Bank of America Corporation provides comprehensive banking and financial services through its various subsidiaries. The company serves individual consumers, small to medium businesses, large corporations, institutional investors, and governments. Its operations are divided into four key segments: Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets.

On Friday, shares of BAC increased by $1.30 to reach $40.97. Trading volume was 35,967,948 shares, slightly higher than the average of 35,904,723 shares. Bank of America’s recent performance shows a 1-year low of $34.15 and a 1-year high of $48.08. Their financial ratios include a quick ratio of 0.78, a current ratio of 0.78, and a debt-to-equity ratio of 1.04. With a market capitalization of $311.45 billion, BAC has a P/E ratio of 12.72 and a price-to-earnings growth (P/E/G) ratio of 1.21.

Banking, Stocks, Investing