Coronavirus Recovery Watch: Major U.S. Banks Underperform The Market, But There Are A Few Bright Spots
Our bank portfolio of 9 stocks shows an average return of 11% in the last five trading days compared with a 13% return in the Dow during the same period. This portfolio reflects one set of possible stocks that will very likely underperform the broader market if there’s a reasonably quick Coronavirus-recovery.
Top Performers
The top 3 performers within the portfolio in the last five trading days were:
- Citigroup (15.1% return)
- Morgan Stanley (14.6% return)
- JPMorgan (14.4% return)
The top 3 performers on Friday were:
- U.S Bancorp (-1.1% return)
- BNY Mellon (-1.4% return)
- State Street (-1.5% return)
Portfolio Summary (at market close on Friday March 27)
Ticker | Market Cap | Stock Price | Return | ||
BAC | $188.5 Bil | $21.60 | 1D: -4.9% | 5D: 9.8% | YTD: -38.7% |
BK | $28.8 Bil | $32.54 | 1D: -1.4% | 5D: 11.9% | YTD: -35.3% |
C | $91.9 Bil | $43.80 | 1D: -4.8% | 5D: 15.1% | YTD: -45.2% |
JPM | $280.1 Bil | $91.13 | 1D: -7.1% | 5D: 9.1% | YTD: -34.6% |
STT | $17.2 Bil | $48.66 | 1D: -1.5% | 5D: 4.3% | YTD: -38.5% |
USB | $54.4 Bil | $35.35 | 1D: -1.1% | 5D: 9.8% | YTD: -40.4% |
WFC | $123.8 Bil | $30.28 | 1D: -2% | 5D: 14.3% | YTD: -43.7% |
GS | $54.5 Bil | $158.34 | 1D: -4.5% | 5D: 14.4% | YTD: -31.1% |
MS | $52.1 Bil | $34.01 | 1D: -4.8% | 5D: 14.6% | YTD: -33.5% |
Financial Highlights for Top Performer Citigroup
Citigroup’s market cap has declined by $86.6 billion from about $178.5 billion on 12/31/2019 to $91.9 billion now. The company had $74.3 billion in revenue in 2019, from which it derived $19.4 billion in net income and $8.08 in earnings per share.
As a comparison, Goldman Sachs had $36.5 billion in revenue in 2019, from which it derived $8.5 billion in net income and $21.18 in earnings per share and saw its market cap from $84.9 billion on 12/31/2019 to current level of $54.5 billion.
See the Bank portfolio for more financial highlights on each portfolio company.
Reminder: Portfolio Performance Hinges on Speedy Recovery
Our dashboard forecasting US COVID-19 cases with cross-country comparisons analyzes expected recovery time-frames and possible spread of the virus.
Further, our dashboard -28% Coronavirus crash vs. 4 Historic crashes builds a complete macro picture and complements our analyses of the coronavirus outbreak’s impact.
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