U.S. banking stocks are trading at a discount: investment expert - BNN Bloomberg

📆 17/07/2023 22:00:00
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As U.S. banks post strong quarterly results, one investment expert says the majority of these companies are trading at a large discount.

The sector is benefiting this season from lowered expectations, higher revenue from loans and in the case of JPMorgan Chase & Co,, Stephen Biggar, director of financial services research at Argus Research, told BNN Bloomberg in a TV interview on Monday.

Biggar explained that each bank has their own particular strength which is pushing them forward this quarter and is positive on the sector overall. He pointed to JP Morgan’s results as very promising and believes the bank will continue to reward investors in the long run. Biggar said JP Morgan's broad exposure to mortgages, credit, traditional branch banking and commercial real estate each place the bank in a good position.

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