2 Must-Have Financial Stocks for Your Portfolio in 2023
Financial stocks, including banks, insurance providers, and credit card companies, offer value to investors due to their intrinsic value. Finbold conducted an analysis to identify the best financial stocks based on yield, value, and company quality. Two stocks emerged as top picks for the optimal combination of these factors: Visa and JPMorgan Chase.
Visa (NYSE: V)
Visa is a global payments technology company that facilitates transactions across more than 200 countries. It is the largest financial stock by market capitalization and offers an annual dividend yield of 0.75%. In its Q3 earnings report, Visa reported a 12% increase in net revenue and a 22% jump in net income. With the shift towards digital payments, Visa is well-positioned for future growth. Analysts also have a positive outlook on the stock, giving it a ‘strong buy’ rating and a target price of $283 in the next 12 months.
JPMorgan Chase (NYSE: JPM)
JPMorgan Chase is the largest bank by market capitalization and provides various banking and wealth management services. It offers a high dividend yield of 2.66% annually. Analysts rate the stock as a ‘moderate buy’ with a target price of $170 in the next 12 months. JPMorgan Chase has seen an 11% increase in value year to date. When factoring in its dividend, both JPMorgan Chase and Visa have performed in line with the S&P 500’s 15% return.
In conclusion, Visa and JPMorgan Chase are two financial stocks that should be considered for your portfolio in 2023. With their strong market positions, dividend yields, and positive growth prospects, these stocks offer value and potential returns for investors.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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