14 top bank stocks to buy in 2023

The best bank stocks depend on your portfolio and investment goals — while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

14 bank stocks to buy in 2023

We round up a selection of stocks in or related to the banking industry, weighting the list more heavily towards popular mid- and large-cap US stocks.

1. Bank of America (BAC)
2. Citigroup (C)
3. JPMorgan Chase-and-Co (JPM)
4. Wells Fargo-and-Company (WFC)
5. Fifth Third Bancorp (FITB)
6. Huntington Bancshares Incorporated (HBAN)
7. Citizens Financial Group (CFG)
8. Truist Financial (TFC)
9. Comerica (CMA)
10. U-SBancorp (USB)
11. First Bank (FRBA)
12. Premier Financial Bancorp (PFBI)
13. Towne Bank (TOWN)
14. SunTrust Banks (STI)

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The bank stocks industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering bank stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.

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Take a deeper dive into bank stocks

If you're interested in investing in the banking industry, take a closer look at what companies in this industry do and how the stocks have historically performed. Keep in mind that positive past performance doesn't guarantee that a stock will continue to rise in the future.

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1. 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. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services.

Bank of America stock opened the day at $29.53 after a previous close of $29.56. The latest price was $29.40 (25-minute delay). Bank of America is listed on the NYSE, has a trailing 12-month revenue of around USD96.8 billion and employs 213,000 staff.

• Market capitalization: $233,929,850,880
• P/E ratio: 8.2801
• PEG ratio: 87.4797

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2. Citigroup (C)

Citigroup Inc. , a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.

Citigroup stock opened the day at $45.00 after a previous close of $45.08. The latest price was $44.84 (25-minute delay). Citigroup is listed on the NYSE, has a trailing 12-month revenue of around USD$72.5 billion and employs 240,000 staff.

• Market capitalization: $86,564,798,464
• P/E ratio: 7.1794
• PEG ratio: 0.7174

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3. JPMorgan Chase-and-Co (JPM)

JPMorgan Chase & Co. operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM).

JPMorgan Chase-and-Co stock opened the day at $153.20 after a previous close of $153.19. The latest price was $153.16 (25-minute delay). JPMorgan Chase-and-Co is listed on the NYSE, has a trailing 12-month revenue of around USD$142.4 billion and employs 308,669 staff.

• Market capitalization: $442,873,839,616
• P/E ratio: 9.1402
• PEG ratio: 1.1661

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4. Wells Fargo-and-Company (WFC)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The Consumer Banking and Lending segment offers diversified financial products and services for consumers and small businesses.

Wells Fargo-and-Company stock opened the day at $42.97 after a previous close of $43.02. The latest price was $43.06 (25-minute delay). Wells Fargo-and-Company is listed on the NYSE, has a trailing 12-month revenue of around USD$76.5 billion and employs 227,363 staff.

• Market capitalization: $155,869,986,816
• P/E ratio: 9.3712
• PEG ratio: 0.17

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5. Fifth Third Bancorp (FITB)

Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

Fifth Third Bancorp stock opened the day at $27.15 after a previous close of $27.19. The latest price was $27.04 (25-minute delay). Fifth Third Bancorp is listed on the NASDAQ, has a trailing 12-month revenue of around USD$8.2 billion and employs 18,804 staff.

• Market capitalization: $18,516,852,736
• P/E ratio: 7.7464
• PEG ratio: 3.6914

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6. Huntington Bancshares Incorporated (HBAN)

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG). The Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, credit cards, and consumer and small business loans, as well as investment products.

Huntington Bancshares Incorporated stock opened the day at $10.80 after a previous close of $10.80. The latest price was $10.81 (25-minute delay). Huntington Bancshares Incorporated is listed on the NASDAQ, has a trailing 12-month revenue of around USD$7.2 billion and employs 20,073 staff.

• Market capitalization: $15,755,110,400
• P/E ratio: 7.2053
• PEG ratio: 0.6795

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7. Citizens Financial Group (CFG)

Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Citizens Financial Group stock opened the day at $26.39 after a previous close of $26.40. The latest price was $26.45 (25-minute delay). Citizens Financial Group is listed on the NYSE, has a trailing 12-month revenue of around USD$7.8 billion and employs 18,214 staff.

• Market capitalization: $12,527,412,224
• P/E ratio: 6.651
• PEG ratio: 0.2626

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8. Truist Financial (TFC)

Truist Financial Corporation, a holding company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.

Truist Financial stock opened the day at $31.44 after a previous close of $31.44. The latest price was $31.42 (25-minute delay). Truist Financial is listed on the NYSE, has a trailing 12-month revenue of around USD$21.9 billion and employs 51,943 staff.

• Market capitalization: $42,115,698,688
• P/E ratio: 7.9344
• PEG ratio: 0.8768

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9. Comerica (CMA)

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services, as well as payment and card services for small and middle market businesses, multinational corporations, and governmental entities.

Comerica stock opened the day at $43.34 after a previous close of $43.28. The latest price was $42.92 (25-minute delay). Comerica is listed on the NYSE, has a trailing 12-month revenue of around USD$3.7 billion and employs 7,667 staff.

• Market capitalization: $5,770,762,240
• P/E ratio: 4.9558
• PEG ratio: 0.3155

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10. U-SBancorp (USB)

U. S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

U-SBancorp stock opened the day at $36.67 after a previous close of $36.79. The latest price was $36.71 (25-minute delay). U-SBancorp is listed on the NYSE, has a trailing 12-month revenue of around USD$24.6 billion and employs 75,000 staff.

• Market capitalization: $57,920,774,144
• P/E ratio: 11.1045
• PEG ratio: 0.8404

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11. First Bank (FRBA)

First Bank provides various banking products and services to small to mid-sized businesses and individuals. The company accepts various deposits, including non-interest bearing demand deposits, interest bearing demand accounts, money market accounts, savings accounts, and certificates of deposit, as well as commercial checking accounts. Its loan products include commercial and industrial loans; commercial real estate loans, such as owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans comprising residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans that include auto, personal, traditional installment, and other loans.

First Bank stock opened the day at $12.47 after a previous close of $12.42. The latest price was $12.39 (25-minute delay). First Bank is listed on the NASDAQ, has a trailing 12-month revenue of around USD$92 million and employs 286 staff.

• Market capitalization: $309,784,608
• P/E ratio: 11.8286
• PEG ratio: 0

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12. Premier Financial Bancorp (PFBI)

As of September 17, 2021, Premier Financial Bancorp, Inc. was acquired by Peoples Bancorp Inc. Premier Financial Bancorp, Inc.

Premier Financial Bancorp is listed on the NASDAQ, has a trailing 12-month revenue of around USD$74.2 million and employs 337 staff.

• Market capitalization: $263,382,736
• P/E ratio: 11.3312
• PEG ratio: 0

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13. Towne Bank (TOWN)

TowneBank provides retail and commercial banking services for individuals, commercial enterprises, and professionals. The company operates through three segments: Banking, Realty, and Insurance. It accepts various deposits, including demand deposits, savings accounts, money rate savings, certificates of deposit, and individual retirement accounts.

Towne Bank stock opened the day at $26.12 after a previous close of $26.18. The latest price was $26.02 (25-minute delay). Towne Bank is listed on the NASDAQ, has a trailing 12-month revenue of around USD$690.4 million and employs 2,830 staff.

• Market capitalization: $1,960,670,080
• P/E ratio: 11.3333
• PEG ratio: 0

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14. SunTrust Banks (STI)

SunTrust Banks, Inc. operates as the holding company for SunTrust Bank that provides various financial services for consumers, businesses, corporations, institutions, and not-for-profit entities in the United States. It operates in two segments, Consumer and Wholesale.

SunTrust Banks is listed on the NYSE and employs 22,709 staff.

• Market capitalization: $31,140,524,032
• P/E ratio: 12.8443
• PEG ratio: 1.63

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Bottom line

While it’s possible to turn a profit investing in bank stocks, keep in mind that — like any investment — bank stocks are not immune to risk. These stocks are subject to fluctuating conditions — both in the market and in the banking industry, so carefully vet your picks before you invest. And if you’re new to investing, or if it’s been awhile since you’ve taken a critical look at your investing accounts, compare brokers to make sure you’re getting the best features in your trading account.

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