Promising Bank Stocks To Consider - August 18th

Key Points

• Invesco QQQ, Bank of America, and JPMorgan Chase & Co. are highlighted as key bank stocks to monitor, driven by factors such as interest rates and economic conditions.
• Bank of America has a market capitalization of $352.75 billion and a price-to-earnings ratio of 13.91, indicating its significant presence in the financial sector.
• JPMorgan Chase & Co. trading activity reflects growth, with shares up $1.05 to $291.54 and maintaining a robust market cap of $801.66 billion.

Invesco QQQ, Bank of America, and JPMorgan Chase & Co. are the three Bank stocks to watch today, according to MarketBeat's stock screener tool. Bank stocks are shares of publicly traded banking institutions that represent ownership stakes in those companies. Their market value and returns are driven by factors such as interest-rate changes, credit quality of loan portfolios, regulatory policies, and overall economic conditions. Investors in bank stocks typically seek both dividend income and capital appreciation tied to the health of the financial sector. 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 $1.43 during mid-day trading on Monday, hitting $575.92. The stock had a trading volume of 16,289,299 shares, compared to its average volume of 44,648,852. The company has a 50 day moving average of $554.13 and a two-hundred day moving average of $514.06. Invesco QQQ has a twelve month low of $402.39 and a twelve month high of $583.32.

Read Our Latest Research Report on QQQ

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.

BAC traded up $0.68 during midday trading on Monday, hitting $47.62. 15,869,951 shares of the company were exchanged, compared to its average volume of 42,111,805. The company's 50 day simple moving average is $46.69 and its 200 day simple moving average is $43.75. The firm has a market capitalization of $352.75 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.82 and a beta of 1.31. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 1.14. Bank of America has a 1-year low of $33.06 and a 1-year high of $49.31.

Read Our Latest Research Report on BAC

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.

JPM traded up $1.05 during midday trading on Monday, hitting $291.54. 1,970,592 shares of the company were exchanged, compared to its average volume of 9,884,679. The company's 50 day simple moving average is $286.42 and its 200 day simple moving average is $263.55. The firm has a market capitalization of $801.66 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29.

Read Our Latest Research Report on JPM

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