2020 is going to be an interesting year for the banking industry. The banking sector is continuing to change with the help of new emerging technologies and trying to adjust its strategies to keep pace with fast-moving industries. What can we expect from the banking world for the rest of 2020?
What to people think the upcoming trend will be in the banking sector? These are the few questions that come in mind when we look at the banking sector.
Various trends stipulate that the best ways for the bank to protect its profitability and to enhance its efficiency in 2020 is to focus on customer needs. Another thing that needs attention is the adoption of digital banking and digital solutions. The new innovation with the passage of time-proven to be useful in meeting the demands of customers.
Here some of the booming banking industry stocks you should add to your list:
Huntington Bancshares Incorporated (NASDAQ: HBAN)
Huntington Bancshares Incorporated (NASDAQ: HBAN) shares were trading up 2.65% at $9.69 at the time of writing on Wednesday. Huntington Bancshares Incorporated (NASDAQ: HBAN) share price went from a low point around $6.82 to briefly over $15.63 in the past 52 weeks, though shares have since pulled back to $9.69. HBAN market cap has remained high, hitting $9.93B at the time of writing, giving it a price-to-sales ratio of more than 2.
Huntington Bancshares and Michigan Governor Gretchen Whitmer disclosed a $5 billion, five-year lending, investment, and philanthropic commitment to help improve financial opportunities for Michigan businesses, consumers, and communities.
If we look at the recent analyst rating HBAN, Wolfe Research initiated coverage on HBAN shares with an Outperform rating and a $10.59 price target, which implies room for 0.9% upside momentum this year.
Regions Financial Corporation (NYSE: RF)
Regions Financial Corporation (NYSE: RF) Shares headed rising, higher as much as 1.38%. The most recent rating by Wolfe Research, on July 31, 2020, is at an Outperform. Regions Financial Corporation is planned to participate in the Barclays Global Financial Services Conference Tuesday, Sept. 15. Regions Financial has disclosed Monday it has offered a series of financial services such as payment extension, waiving of certain fees to support the businesses and people in portions of Louisiana, Arkansas, and Texas that were impacted by Hurricane Laura.
Truist Financial Corporation (NYSE: TFC)
Truist Financial Corporation (NYSE: TFC) rose 0.61% after gaining more than $0.24 on Wednesday. Truist Awarded $65 Million in New Markets Tax Credit Allocation to Fuel Community Development by the U.S. Treasury Department’s Community Development Financial Institution (CDFI) Fund. It has a 52-weeks low and a high range of $24.01-$56.92, respectively. TFC has traded up 64.14% from its 52-weeks low and traded down -30.76% from its 52-weeks high.
F.N.B. Corporation (NYSE: FNB)
F.N.B. Corporation (FNB) last closed at $7.55, in a 52-week range of $5.05 to $12.93. Analysts have a consensus price target of $8.83. Earlier, it has been disclosed that F.N.B Corporation has decided to pay the dividend and if an investor wants to get dividend he must have purchased FNB shares before the 3rd of September. F.N.B’s upcoming dividend is US$0.12 a share, following on from the last 12 months when the company distributed a total of US$0.48 per share to shareholders. FNB has moved up 49.50% from its 52-weeks low and moved down -41.61% from its 52-weeks high.
People’s United Financial Inc. (NASDAQ: PBCT)
People’s United Financial Inc. (NASDAQ: PBCT) stock soar by 0.85% to $10.65. The most recent rating by RBC Capital Mkts, on June 24, 2020, is at a Sector perform. People’s United Financial Inc. has earlier disclosed the formation of the Business Transformation Office (BTO) to support product strategy and management of the bank. It has also announced the addition of two senior executives. Anne Donahue, SVP, New York Regional Wealth Leader, and David Murphy, SVP, Massachusetts Regional Wealth Leader in its regional leadership team. PBCT has moved up 13.66% from its 52-weeks low and moved down -38.15% from its 52-weeks high.
Sterling Bancorp (NYSE: STL)
Sterling Bancorp (NYSE: STL) rose 0.95% after gaining more than $0.11 on Wednesday. Sterling National Bank and Cashfac Announce Strategic Business Alliance for Launch of New Escrow Account Platform. After the partnership, the Virtual Bank Technology of Cashfac flagship will be utilized and delivered remotely via cloud. Previously, it has entered into an agreement with iPsoft to introduce the cognitive customer service agent ‘Skye’. The decision is taken to enhance customer satisfaction and to accelerate the digital transformation.
The PNC Financial Services Group Inc. (NYSE: PNC)
The PNC Financial Services Group Inc. (NYSE: PNC) last closed at $112.40, in a 52-week range of $79.41 to $161.79. PNC Bank Celebrates 10th Annual Women In Business Week. Analysts have a consensus price target of $114.58. PNC Treasury Management earlier disclosed it has enhanced its payment offerings by adding push-to-debit card capabilities, called Direct to Debit Card. It has moved up 41.54% from its 52-weeks low and moved down -30.53% from its 52-weeks high.
Cadence Bancorporation (NYSE: CADE)
Cadence Bancorporation (NYSE: CADE) Shares headed rising, higher as much as 2.58%. The most recent rating by Keefe Bruyette, on August 19, 2020, is at an Outperform. Cadence Bancorporation (NYSE: CADE) has announced Tuesday that it has named Myra Caldwell as its Chief diversity officer. Its market capitalization has remained high, hitting 1.22 billion at the time of writing.
Comerica Incorporated (NYSE: CMA)
Comerica Incorporated (NYSE: CMA) last closed at $40.18, in a 52-week range of $24.28 to $73.43. Analysts have a consensus price target of $40.40. Comerica Incorporated (CMA) has revealed earlier that it has joined the Partnership for Carbon Accounting Financials (PCAF). PCAF is striving to offer a consistent and transparent approach to assess and disclose greenhouse gas (GHG) emissions associated with loans and investments in the financial services industry.
CIT Group Inc. (NYSE: CIT)
CIT Group Inc. (NYSE: CIT) stock drop by -0.77% to $19.31 after Consumers focus on saving and evolve spending habits. The most recent rating by Oppenheimer, on July 21, 2020, is at a Perform. CIT Group Inc. (CIT) has revealed earlier that it has concluded the sale of wealth management business to FirstSun Capital Bancorp. This deal support CIT Group to focus on its core strengths and to enhance its capability to meet client’s expectations.
KeyCorp (NYSE: KEY)
KeyCorp (NYSE: KEY) last closed at $12.71, in a 52-week range of $7.45 to $20.52. Analysts have a consensus price target of $13.91. It has traded up $7.45 from its 52-weeks low and traded down $20.52 from its 52-weeks high. Its market capitalization has remained high, hitting $12.31 billion.
U.S. Bancorp (NYSE: USB)
U.S. Bancorp (NYSE: USB) stock soar by 2.51% to $37.61. The most recent rating by Wolfe Research, on July 31, 2020, is at an Outperform. U.S. Bancorp (NYSE: USB) share price went from a low point around $28.36 to briefly over $61.11 in the past 52 weeks. USB market cap has remained high, hitting $56.26B at the time of writing.
Citizens Financial Group Inc. (NYSE: CFG)
Citizens Financial Group Inc. (NYSE: CFG) last closed at $26.79, in a 52-week range of $14.12 to $41.29. Analysts have a consensus price target of $29.58. Looking at its profitability, it has a return on assets of 0.60%, return on equity of 5.30%, and return on investment of 10.80%. CFG has moved up 89.73% from its 52-weeks low and moved down -35.12% from its 52-weeks high.
Fifth Third Bancorp (NASDAQ: FITB)
Fifth Third Bancorp (NASDAQ: FITB) stock soar by 2.09% to $21.28. The most recent rating by Wolfe Research, on July 31, 2020, is at an Outperform. Fifth Third Bancorp market cap remained high, hitting 15.04 billion at the time of writing. This company’s stock has fluctuated between the low of $11.10 and a high of $31.64. It has moved up 91.76% from its 52-weeks low and moved down -32.73% from its 52-weeks high.
New York Community Bancorp Inc. (NYSE: NYCB)
New York Community Bancorp Inc. (NYSE: NYCB) Shares headed rising, higher as much as 1.69%. The most recent rating by Compass Point, on April 14, 2020, is at a Neutral. New York Community Bancorp Inc. (NYSE: NYCB) share price went from a low point around $8.19 to briefly over $13.79 in the past 52 weeks, though shares have since pulled back to $9.04. NYCB market cap has remained high, hitting $4.19B at the time of writing.
First Horizon National Corporation (NYSE: FHN)
First Horizon National Corporation (NYSE: FHN) rose 0.63% after gaining more than $0.06 on Wednesday. First Horizon National Corporation has a 52-weeks low and high range of $6.27 and $17.42, respectively. It has moved up 52.95% from its 52-weeks low and moved down -44.95% from its 52-weeks high. Looking at its profitability, it has return on assets of 0.60%, returns on equity of 6.20%, and return on investment of 18.80%
Umpqua Holdings Corporation (NASDAQ: UMPQ)
Umpqua Holdings Corporation (NASDAQ: UMPQ) Shares headed rising, higher as much as 2.68%. The most recent rating by Piper Sandler, on June 19, 2020, is at a Neutral. Umpqua Holdings Corporation (NASDAQ: UMPQ) total market capitalization has remained high, hitting 2.58 billion at the time of writing.
Zions Bancorporation National Association (NASDAQ: ZION)
Zions Bancorporation National Association (ZION) stock soar by 0.64% to $32.39. The most recent rating by Wolfe Research, on July 31, 2020, is at an Underperform. Zions Bancorporation National Association (ZION) revealed it has scheduled to present at Barclays Global Financial Services Conference on Tuesday, September 15. Its market capitalization remained high, hitting 5.35 billion at the time of writing.
Valley National Bancorp (NASDAQ: VLY)
Valley National Bancorp (NASDAQ: VLY) rose 1.86% after gaining more than $0.14 on Wednesday. Valley National Bancorp (NASDAQ: VLY) has a 52-weeks low and high range of $6.00 and $12.14, respectively. It has moved up 27.67% from its 52-weeks low and moved down -36.90% from its 52-weeks high. This company’s total market capitalization is 3.16 billion.
First Republic Bank (NYSE: FRC)
First Republic Bank (NYSE: FRC) Shares headed rising, higher as much as 0.90% after First Republic Bank Declares Dividends on Four Series of Perpetual Preferred Stock for Third Quarter 2020. The most recent rating by Wolfe Research, on July 31, 2020, is at an Outperform.
