Major Bank Stocks Gain Impressive 10% Over the Month: A Look at $JPM, $BAC, $WFC, $TD, and More.
Stocks in the major bank sector have performed significantly better than the overall market over the past month, experiencing growth of approximately 10%. For intraday recommendations on stocks within this sector, you can refer to this robot: Swing Trader: Medium Volatility Stocks for Active Trading (TA-FA).
The most notable companies in group Major Bank include:
- JPMorgan Chase & Co (NYSE: JPM)
- Bank of America Corp (NYSE: BAC)
- Wells Fargo & Co (NYSE: WFC)
- HSBC Holdings PLC (NYSE: HSBC)
- Citigroup (NYSE: C)
- Barclays PLC (NYSE: BCS)
Market Cap:
The average market capitalization across the group is $172.9 billion. The market cap for tickers in the group ranges from $62.7 billion to $453 billion. JPMorgan Chase & Co (JPM) holds the highest valuation in this group at $453 billion, while the lowest valued company is MSL at $191.4 million.
On 4/15/23 at 7:13 AM, JPMorgan Chase & Co (JPM, $138.73) experienced a market cap increase of $27.3 billion. Conversely, on 3/10/23 at 7:52 AM, JPMorgan Chase & Co (JPM, $130.34) witnessed a market cap decrease of $22.0 billion.
Price Performance:
For the group, the average weekly price growth was -1.21%. The average monthly price growth was 7.21%, and the average quarterly price growth was 0.92%. Notable price movements include:
- On 8/3/23 at 2:01 PM, Banco Santander SA (SAN, $3.8) was a top loser for the week, declining by -6.4%.
- On 7/15/23 at 6:53 AM, UBS Group AG (UBS, $20.91) was a top weekly gainer with a +5.34% increase.
- On 7/6/23 at 7:25 AM, JPMorgan Chase & Co (JPM, $144.64) was also a top weekly gainer with a +5.08% increase.
Trading Volume:
The average weekly volume growth across all stocks in the group was 3.27%. The average monthly volume growth was -4.85%, and the average quarterly volume growth was 10.47%. Notable volume events include:
- On 7/28/23 at 4:14 PM, the volume for Mitsubishi UFJ Financial Group stock increased for one day, resulting in a record-breaking daily growth of 237% of the 65-Day Volume Moving Average.
- On 3/24/23 at 6:50 AM, the volume for Toronto Dominion Bank stock increased for five consecutive days, with an average daily gain of 141%.
- On 3/17/23 at 6:56 AM, the volume for UBS Group AG stock increased for one day, resulting in a record-breaking daily growth of 220% of the 65-Day Volume Moving Average.
Fundamental Analysis Ratings:
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows:
- Valuation Rating: 50
- P/E Growth Rating: 57
- Price Growth Rating: 49
- SMR Rating: 11
- Profit Risk Rating: 74
- Seasonality Score: -22 (-100 ... +100)
Industry Description:
The Major Banks Industry comprises some of the world's largest companies with global reach and significant market capitalizations. These large banks have diverse business arms, including deposits, investment banking, wealth management, and insurance. Key competitive advantages of major banks include brand recognition, cost of capital, and efficiency. Notable players in the industry include J.P. Morgan, Bank of America, Wells Fargo, and Citigroup.
Market Cap in Major Banks Industry:
The average market capitalization across the Major Banks Industry is $81.5 billion. The market cap for tickers in the industry ranges from $191.4 million to $453 billion. JPMorgan Chase & Co (JPM) holds the highest valuation in this industry, while the lowest valued company is MSL at $191.4 million.
On 4/15/23 at 7:13 AM, JPMorgan Chase & Co (JPM, $138.73) experienced a market cap increase of $27.3 billion. Conversely, on 3/10/23 at 7:52 AM, JPMorgan Chase & Co (JPM, $130.34) witnessed a market cap decrease of $22.0 billion.
Price Performance in Major Banks Industry:
For the Major Banks Industry, the average weekly price growth was -1.45%. The average monthly price growth was 2.54%, and the average quarterly price growth was -1.02%. Notable price movements include:
- On 8/3/23 at 2:01 PM, Banco Santander SA (SAN, $3.8) was a top loser for the week, declining by -6.4%.
- On 7/15/23 at 6:53 AM, UBS Group AG (UBS, $20.91) was a top weekly gainer with a +5.34% increase.
- On 7/6/23 at 7:25 AM, JPMorgan Chase & Co (JPM, $144.64) was also a top weekly gainer with a +5.08% increase.
Trading Volume in Major Banks Industry:
The average weekly volume growth across all stocks in the Major Banks Industry was 20.74%. The average monthly volume growth was 13.96%, and the average quarterly volume growth was 1.55%.
- On 7/28/23 at 4:14 PM, the volume for Mitsubishi UFJ Financial Group stock increased for one day, resulting in a record-breaking daily growth of 237% of the 65-Day Volume Moving Average.
- On 3/24/23 at 6:50 AM, the volume for Toronto Dominion Bank stock increased for five consecutive days, with an average daily gain of 141%.
- On 3/17/23 at 6:56 AM, the volume for UBS Group AG stock increased for one day, resulting in a record-breaking daily growth of 220% of the 65-Day Volume Moving Average.
JPMorgan Chase & Co (JPM) Analysis:
JPM is in a -1.62% downward trend, declining for three consecutive days on August 02, 2023. A three-day decline is considered bearish, indicating potential future declines. Looking at historical data, in 178 out of 308 cases where JPM declined for three days, the price further declined within the following month, suggesting a 58% chance of a continued downward trend.
The current price of $155.88 is above the highest resistance line found by A.I., which is $142.68. During the period of 07/07/23 - 08/08/23, the price experienced an +8% uptrend, while the week of 08/01/23 - 08/08/23 shows a -0.83% downtrend.
Bank of America Corp (BAC) Analysis:
BAC's Moving Average Convergence Divergence Histogram (MACD) turned negative on August 02, 2023, indicating a potential bearish signal and suggesting the stock might decline going forward. Tickeron's A.I.dvisor analyzed 43 instances where the indicator turned negative, and in 33 of those cases, the stock moved lower in the days that followed, indicating a 77% chance of a downward move.
The current price of BAC is $31.27, which has crossed the support line at $30.80 and is trading between the $35.05 support and $30.80 support lines. During the period of 07/07/23 - 08/08/23, the price experienced a +10% uptrend, while the week of 08/01/23 - 08/08/23 shows a -1% downtrend.
Wells Fargo & Co (WFC) Analysis:
WFC is in a -2.30% downward trend, declining for three consecutive days on August 02, 2023. Similar to JPM, a three-day decline is viewed as bearish, indicating potential future declines. Looking at historical data, in 188 out of 287 cases where WFC declined for three days, the price declined further within the following month, suggesting a 66% chance of a continued downward trend.
The current price of WFC is $44.46, which has crossed the resistance line at $45.48 and is trading between the $45.48 resistance and $39.01 support lines. During the period of 07/07/23 - 08/08/23, the price experienced a +5% uptrend, while the week of 08/01/23 - 08/08/23 shows a -2% downtrend.
Toronto Dominion Bank (TD) Analysis:
TD's Moving Average Convergence Divergence Histogram (MACD) turned negative on August 02, 2023, indicating a potential bearish signal and suggesting the stock might decline going forward. Tickeron's A.I.dvisor analyzed 40 instances where the indicator turned negative, and in 23 of those cases, the stock moved lower in the days that followed, indicating a 57% chance of a downward move.
The current price of TD is $63.68, which has crossed the support line at $63.12 and is trading between the $67.69 resistance and $63.12 support lines. During the period of 07/07/23 - 08/08/23, the price experienced a +5% uptrend, while the week of 08/01/23 - 08/08/23 shows a -2% downtrend.
Mitsubishi UFJ Financial Group (MUFG) Analysis:
MUFG's Momentum Indicator moved above the 0 level on July 27, 2023, indicating a potential shift to a new upward trend. Tickeron's A.I.dvisor analyzed 99 similar instances where the indicator turned positive, and in 60 of those cases, the stock moved higher in the following days, suggesting a 61% chance of a move higher.
The current price of MUFG is $7.80, which is above the highest support line found by A.I. During the period of 07/07/23 - 08/08/23, the price experienced a +5% uptrend, while the week of 08/01/23 - 08/08/23 shows a -2% downtrend.
JPM in downward trend: 10-day moving average broke below 50-day moving average on August 25, 2023
The 10-day moving average for JPM crossed bearishly below the 50-day moving average on August 25, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
JPM moved below its 50-day moving average on August 22, 2023 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where JPM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for JPM entered a downward trend on September 19, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where JPM's RSI Oscillator exited the oversold zone, of 32 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on September 14, 2023. You may want to consider a long position or call options on JPM as a result. In of 87 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for JPM just turned positive on September 14, 2023. Looking at past instances where JPM's MACD turned positive, the stock continued to rise in of 47 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where JPM advanced for three days, in of 325 cases, the price rose further within the following month. The odds of a continued upward trend are .
JPM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 74, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. JPM’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.511) is normal, around the industry mean (1.004). P/E Ratio (9.533) is within average values for comparable stocks, (17.410). Projected Growth (PEG Ratio) (3.041) is also within normal values, averaging (3.517). JPM has a moderately low Dividend Yield (0.027) as compared to the industry average of (0.055). P/S Ratio (3.056) is also within normal values, averaging (2.482).
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a major bank
Industry MajorBanks
JPM and
Correlation & Price change
A.I.dvisor indicates that over the last year, JPM has been closely correlated with BAC. These tickers have moved in lockstep 80% of the time. This A.I.-generated data suggests there is a high statistical probability that if JPM jumps, then BAC could also see price increases.