Saturday, 1 April 2023

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Biggest banks looking like winners, Barron’s says – TipRanks Financial Blog

Top Morgan Stanley international executive to retire, FT reports

The U.S. banking system looks to have skirted a full-blown crisis in the past two weeks after the worst scare since 2008-09, thanks to regulators’ moves to effectively back deposits and provide loans to the nation’s banks, Andrew Bary writes in this week’s edition of Barron’s. Other potential winners, in addition to JPMorgan (JPM) and Wells Fargo (WFC), include Goldman Sachs (GS) and Morgan Stanley (MS), which are structured as banks but have attractive franchises and do relatively little traditional banking, the author notes. The six biggest banks, which also include Bank of America (BAC) and Citigroup (C), carry dividend yields of 3% to 4.5%, which are safe. The stocks generally trade for 10 times 2023 earnings, or less. The even-higher dividend yields on regional banks also appear secure. Reference Link

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