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The financial sector is a cornerstone of the stock market, with bank stocks playing a pivotal role. These stocks represent shares in financial institutions, such as banks, that offer various services, including loans, deposits, asset management, and investment services.
Investing in bank stocks brings several advantages, including stability and consistent dividend payouts.
They appeal to income-oriented investors also because of their consistent dividends. In a rising interest rate environment, bank earnings also rise since they gain from the difference between deposit and loan rates.
Moreover, the performance of bank stocks is closely related to domestic and international economic situations, making them vulnerable to financial crises and recession. Let’s highlight two well-known big-cap bank stocks for your portfolio this week.
Goldman Sachs Group
The Goldman Sachs Group Inc. (NYSE:GS) is a global investment banking, securities, and management leader. It serves many clients, including corporations, financial institutions, governments, and individuals.
Recent financial reports unveil Goldman Sachs’ impressive performance in the first quarter of FY 2024, surpassing market expectations. With earnings reaching $11.58 per share and quarterly revenue totaling $32.16 billion, the institution outshined Wall Street projections, which anticipated earnings per share of $8.54 and revenue of $12.92 billion. This marks a significant 26.71% increase in revenue year-over-year.
Goldman Sachs shares have gained 18.77% year to date in 2024. Early signs point to GS stock opening Tuesday’s trading session at about $461.18 per share.
JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE:JPM) is among the most venerable and powerful organizations worldwide. It serves millions of individuals, small businesses, and a distinguished mix of corporate, institutional, and governmental clients.
JPMorgan Chase & Co. announced a quarterly dividend of $1.15 per share on outstanding common stock. Provided they are registered as owners by the close of business on July 5, 2024, readers should expect this dividend payout on July 31, 2024. The annual dividend yield is 2.29% for those who make this choice.
JPMorgan Chase & Co.’s stock has surged by 16.64%, following a solid start to the year. Early signs point to a minor decline in JPM stock during premarket trading as markets prepare for Tuesday’s business day; shares are around $200.37 each.
Are You Missing Out On Higher Yields?
The current high-interest-rate environment has created an incredible opportunity for income-seeking investors to earn massive yields, but not through dividend stocks… Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities and Benzinga has identified some of the most attractive options for you to consider.
For example, the Jeff Bezos-backed investment platform just launched its Private Debt Fund, which provides access to a pool of short-term loans backed by residential real estate with a target 7% to 9% net annual yield paid to investors monthly. The best part? Unlike other private credit funds, this one has a minimum investment of only $100.
Don’t miss out on this opportunity to take advantage of high-yield investments while rates are high. Check out Benzinga’s favorite high-yield offerings.
This article 2 Bank Stocks To Keep An Eye On Before June originally appeared on Benzinga.com
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