Best Bank Stocks Worth Watching - August 2nd

Key Points

• The three bank stocks to watch are Invesco QQQ, JPMorgan Chase & Co., and Bank of America, which had the highest trading volumes recently.
• Shares of JPMorgan Chase traded down to $289.21 with a market cap of $803.74 billion and a price-to-earnings ratio of 14.84.
• Bank of America shares fell to $45.65 and the company has a market cap of $343.83 billion with a price-to-earnings ratio of 13.35.

Invesco QQQ, JPMorgan Chase & Co., and Bank of America are the three Bank stocks to watch today, according to MarketBeat's stock screener tool. Bank stocks are shares of ownership in publicly traded banking institutions, such as commercial and retail banks. They entitle investors to a portion of the bank’s profits (often paid as dividends) and rise or fall in value based on factors like interest-rate movements, credit quality and overall economic conditions. Buying bank stocks is a way to gain exposure to the financial sector’s performance. These companies had the highest dollar trading volume of any Bank stocks within the last several days.

Invesco QQQ (QQQ)

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust's investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.

Shares of NASDAQ QQQ traded down $11.13 during trading on Friday, hitting $553.88. The stock had a trading volume of 69,290,965 shares, compared to its average volume of 40,141,440. The firm has a fifty day moving average of $544.01 and a two-hundred day moving average of $510.73. Invesco QQQ has a 12 month low of $402.39 and a 12 month high of $574.63.

Read Our Latest Research Report on QQQ

JPMorgan Chase & Co. (JPM)

JPMorgan Chase & Co. is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

Shares of JPM traded down $7.03 during trading hours on Friday, reaching $289.21. 12,005,470 shares of the stock traded hands, compared to its average volume of 8,727,902. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The stock has a fifty day simple moving average of $281.04 and a 200 day simple moving average of $261.57. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $301.29. The company has a market cap of $803.74 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.00 and a beta of 1.11.

Read Our Latest Research Report on JPM

Bank of America (BAC)

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

Shares of BAC traded down $1.62 during trading hours on Friday, reaching $45.65. 52,302,841 shares of the stock traded hands, compared to its average volume of 39,411,248. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 1.14. The stock has a fifty day simple moving average of $46.27 and a 200 day simple moving average of $43.81. Bank of America has a 52 week low of $33.06 and a 52 week high of $49.31. The company has a market cap of $343.83 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.84 and a beta of 1.31.

Read Our Latest Research Report on BAC

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