Home Business News Possibly the two best bank stocks to buy in 2024

Possibly the two best bank stocks to buy in 2024

4th Jul 24 10:34 am

Banking stocks are hot right now, following a very impressive first half for many banks and financial institutions in the industry.

From all indications, investing in banking stocks could be a smart play heading into the second half of the year.

There are certainly many options to choose from, and this article highlights two of the best ones.

  • The banking sector has been one of the best-performing sectors this year, and there is a lot of upside to investing in some of the top banking stocks.
  • Citigroup is one of the largest banks in the US and holds nearly $1.7 trillion worth of assets, making it an option for investors interested in banking stocks.
  • Goldman Sachs is an investment banking giant in the US. It is also one of the major players in the banking sector, and it performed impressively this year.

With the demand for banking stocks at an all-time high, now is the best time to invest in them. After an impressive showing in the first half of the year, they are on course to keep up the momentum. Joel Lim, a financial analyst at Tradequotex.com, has identified two of the best banking stocks to invest in.

Citigroup

Citigroup is an American investment bank and financial services company led by its headquarters in New York City. It has around $1.7 trillion in assets under management, making it one of the finest options for investors interested in banking stocks.

This year, the banking sector has been ultra-bullish, shifting the demand for banking stocks to all-time highs. Among the many banking stocks available in the market, Citigroup is one of the best options. The reason for this is not only its high profitability but also its potential.

Citigroup has portrayed itself as a company keen on embracing new technologies, which will surely bode well for it. One of the best examples is its recent launch of a Citi Strata Premier Card, an upgraded version of the Citi Premier Card tailored to offer travel rewards and protection.

Citigroup’s recent quarterly report indicates it has been one of the best performers in the banking industry this year. According to the report, the New York banking giant generated a revenue of $21.1 billion and a net income of $3.4 billion in the first quarter of the year.

Goldman Sachs

Goldman Sachs is an American investment banking giant and one of the major players in the banking sector. This year, it has put up impressive numbers that any investor interested in banking stocks cannot ignore.

A quick glance at the bank’s latest quarterly report tells us this much. According to the report, Goldman Sachs generated a net revenue of $14.21 billion and net earnings of $4.13 billion. Furthermore, its diluted earnings per common share were $11.58, and its annualized return on average common shareholders equity was 14.8%.

After an impressive showing in the first half of the year and with the demand for banking stocks at an all-time high, there is no better time than now to invest in Goldman Sachs stocks.

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