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U.S. Banks Industry Analysis

UpdatedMar 27, 2026
DataAggregated Company Financials
Companies632
  • 7D2.0%
  • 3M-9.4%
  • 1Y17.3%
  • YTD-8.5%

In the last week, the Banks industry is up 2.0%, with JPMorgan Chase up 1.3%. In the last 12 months, the industry was up 17%. Earnings are forecast to grow by 8.7% annually.

Industry Valuation and Performance

Has the U.S. Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Mar 2026US$2.6tUS$707.1bUS$195.5b11.2x13.4x3.7x
Sun, 22 Feb 2026US$2.8tUS$706.9bUS$195.7b11.9x14.5x4x
Tue, 20 Jan 2026US$2.8tUS$702.9bUS$192.1b11.9x14.5x4x
Thu, 18 Dec 2025US$2.8tUS$699.8bUS$194.0b12x14.6x4x
Sat, 15 Nov 2025US$2.6tUS$695.7bUS$192.3b11.2x13.7x3.8x
Mon, 13 Oct 2025US$2.6tUS$678.1bUS$184.0b11.3x13.9x3.8x
Wed, 10 Sep 2025US$2.6tUS$677.8bUS$184.1b11.9x14.4x3.9x
Fri, 08 Aug 2025US$2.5tUS$678.5bUS$183.6b11.1x13.5x3.7x
Sun, 06 Jul 2025US$2.6tUS$668.4bUS$177.0b12x14.8x3.9x
Tue, 03 Jun 2025US$2.3tUS$668.7bUS$177.1b11.2x13.2x3.5x
Thu, 01 May 2025US$2.2tUS$666.9bUS$176.4b10.9x12.4x3.3x
Sat, 29 Mar 2025US$2.3tUS$663.1bUS$172.0b11.2x13.3x3.4x
Mon, 24 Feb 2025US$2.4tUS$662.1bUS$171.5b11.7x14.2x3.7x
Wed, 22 Jan 2025US$2.5tUS$660.1bUS$166.4b12.6x14.8x3.7x
Fri, 20 Dec 2024US$2.3tUS$655.1bUS$143.0b12.3x15.9x3.5x
Sun, 17 Nov 2024US$2.4tUS$654.9bUS$143.0b12.9x17.1x3.7x
Tue, 15 Oct 2024US$2.2tUS$652.6bUS$145.0b11.7x15.2x3.4x
Thu, 12 Sep 2024US$2.1tUS$652.6bUS$145.6b11.3x14.2x3.2x
Sat, 10 Aug 2024US$2.0tUS$652.5bUS$145.4b10.9x13.9x3.1x
Mon, 08 Jul 2024US$2.0tUS$649.1bUS$149.5b9.8x13.5x3.1x
Wed, 05 Jun 2024US$2.0tUS$655.4bUS$151.1b9.6x13.2x3x
Fri, 03 May 2024US$1.9tUS$653.6bUS$159.8b9.6x12.2x3x
Sun, 31 Mar 2024US$2.0tUS$653.9bUS$166.2b9.6x12.1x3.1x
Tue, 27 Feb 2024US$1.8tUS$654.3bUS$168.9b9.4x10.9x2.8x
Thu, 25 Jan 2024US$1.8tUS$665.6bUS$175.0b9.5x10.4x2.7x
Sat, 23 Dec 2023US$1.8tUS$668.0bUS$195.5b9.5x9.3x2.7x
Mon, 20 Nov 2023US$1.6tUS$667.9bUS$195.5b8.6x8.3x2.4x
Wed, 18 Oct 2023US$1.5tUS$665.7bUS$197.0b7.8x7.8x2.3x
Fri, 15 Sep 2023US$1.6tUS$656.8bUS$191.7b8.1x8.1x2.4x
Sun, 13 Aug 2023US$1.7tUS$656.3bUS$191.3b8.6x8.7x2.5x
Tue, 11 Jul 2023US$1.6tUS$641.8bUS$184.0b7.8x8.5x2.4x
Thu, 08 Jun 2023US$1.6tUS$642.3bUS$184.2b8x8.4x2.4x
Sat, 06 May 2023US$1.5tUS$641.6bUS$174.7b7.6x8.3x2.3x
Mon, 03 Apr 2023US$1.5tUS$623.9bUS$165.4b8.4x9.2x2.4x
Price to Earnings Ratio

9.2x


Total Market Cap: US$1.5tTotal Earnings: US$165.4bTotal Revenue: US$623.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Banks Industry Price to Earnings3Y Average 12.4x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Banks industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 12.4x.
  • The 3-year average PS ratio of 3.2x is lower than the industry's current PS ratio of 3.7x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 5.7% per year over the last three years.
  • Revenues for these companies have grown 4.3% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Financials industry?

US Market-1.62%
Financials0.57%
Banks2.01%
Regional Banks2.39%
Diversified Banks1.87%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry which is trading above its 3-year average PE ratio of 12.0x.
    • Analysts are expecting annual earnings growth of 6.7%, which is lower than the prior year's growth of 14.1% per year.
  • Investors are most pessimistic about the Regional Banks industry, which is trading close to its 3-year average of 14.0x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 15% over the next 5 years.
  • However this is lower than its past earnings growth rate of 20% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 6.7% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
JPM JPMorgan ChaseUS$291.661.3%
+US$10.0b		17.5%PB2.3x
WFC Wells FargoUS$79.023.4%
+US$8.1b		9.3%PB1.5x
BAC Bank of AmericaUS$48.242.6%
+US$7.3b		13.3%PB1.2x
C CitigroupUS$112.412.3%
+US$4.5b		56.5%PB1x
FITB Fifth Third BancorpUS$45.414.0%
+US$1.6b		14.2%PB2.1x

Latest News

AGBK
US$7.32
AGI
7D
-21.6%
1Y
n/a
CMTV
US$32.09
Community Bancorp
7D
-21.7%
1Y
80.5%
BAC
US$48.24
Bank of America
7D
2.6%
1Y
13.3%

BAC: Net Interest Income And Expense Discipline Will Support Future Returns

Analysts have nudged the Bank of America price target slightly lower to about $61.77, reflecting a modestly reduced fair value estimate alongside updated assumptions on discount rate, profit margin, and future P/E after a mix of target raises and cuts across recent research. Analyst Commentary Recent Street research on Bank of America shows a mix of optimism and caution, with several firms adjusting price targets and ratings as they revisit assumptions on earnings power, profitability, and valuation multiples.
CASH
US$88.82
Pathward Financial
7D
-2.8%
1Y
18.3%

CASH: Partner Wins And Tax Season Strength Will Drive P E Re Rating

Narrative update The fair value estimate for Pathward Financial has been revised to $103.50 from $100.00 as analysts factor in recent Overweight and Outperform views, a $107 price target, and expectations that above peer returns and potential partner wins could support a higher future P/E multiple. Analyst Commentary Recent research updates highlight a mix of optimism around Pathward Financial’s earnings power and valuation, alongside some areas where expectations could prove too optimistic if business conditions or partner activity do not line up with forecasts.
JPM
US$291.66
JPMorgan Chase
7D
1.3%
1Y
17.5%

JPMorgan Chase & Co. (JPM): The Fortress of AI Banking – Leading the New Financial Frontier

JPMorgan Chase (JPM) is trading at $289.91 USD on the NYSE as of March 23, 2026, marking a 1.17% gain in today's session. While the stock has faced some technical resistance earlier in the quarter—pulling back from its January all-time high of $337.25—the narrative for 2026 is one of structural evolution.
TFC
US$44.97
Truist Financial
7D
2.5%
1Y
8.6%

TFC: Excess Capital And Buybacks Are Expected To Lift Future Returns

The fair value estimate for Truist Financial has been adjusted slightly lower to $56.55 as analysts weigh higher discount rate assumptions against a series of recent upgrades and price target increases that highlight excess capital, buyback potential, and improving fundamentals. Analyst Commentary Recent Street research around Truist Financial centers on excess capital, buyback capacity, and potential for improving returns, with a growing cluster of upgrades and higher price targets.
WFC
US$79.02
Wells Fargo
7D
3.4%
1Y
9.3%

WFC: Future Returns Will Reflect ROTCE Expansion Despite Sector Multiple Pressure

The analyst price target on Wells Fargo has been trimmed slightly, reflecting a modest fair value adjustment to about $100.52 as analysts weigh mixed target changes across the Street and updated assumptions on profitability and sector valuations. Analyst Commentary Recent research on Wells Fargo points to a split view, with some analysts focusing on upside to earnings power and capital return, while others question how much of that story is already reflected in the share price.
NU
US$14.02
Nu Holdings
7D
-1.0%
1Y
26.4%

NU: US Bank Charter And F1 Partnership Will Support Long-Term Earnings

Analysts kept their $22.00 price target for Nu Holdings unchanged, citing updated assumptions that include a lower discount rate, a revised revenue growth outlook, a higher profit margin and a lower future P/E multiple. What's in the News Nu received conditional approval from the US Office of the Comptroller of the Currency to form a de novo national bank, Nubank, N.A., moving into the bank organization phase that includes meeting OCC conditions and obtaining additional approvals from the FDIC and the Federal Reserve (Regulatory Authority – Compliance).
FITB
US$45.41
Fifth Third Bancorp
7D
4.0%
1Y
14.2%
MTB
US$205.73
M&T Bank
7D
4.8%
1Y
14.5%
BFC
US$132.64
Bank First
7D
-1.2%
1Y
28.3%
C
US$112.41
Citigroup
7D
2.3%
1Y
56.5%

C: Banamex Stake Sale And Capital Actions Will Drive Future Upside

Analysts have raised their price target on Citigroup from $116.00 to about $134.32, citing updated assumptions that include different revenue growth, profit margin, future P/E expectations, and an adjusted discount rate. What's in the News Citi signed a long term lease for premium office space in The Rock, a new 9,492 m² office development in Luxembourg’s Cloche d’Or district.
TBBK
US$52.45
Bancorp
7D
-0.8%
1Y
-2.1%
WBS
US$68.45
Webster Financial
7D
-0.4%
1Y
31.6%

WBS: Santander Deal Uncertainty And Mixed Ratings Will Shape Balanced Outlook

The analyst price target for Webster Financial has nudged higher in our model to $74.92 from $74.77, as analysts factor in the proposed Banco Santander exchange ratio, a series of refreshed targets across the regional bank group, and emerging deal approval risks flagged in recent research. Analyst Commentary Recent Street research around Webster Financial has turned more polarized, with one camp focusing on deal math and sector re-rating potential, and another zeroing in on execution and regulatory risks tied to the proposed Banco Santander transaction and broader bank sector assumptions.
PNC
US$205.46
PNC Financial Services Group
7D
1.7%
1Y
17.4%

PNC: Higher Future P/E And Buybacks May Support Gradual Repricing

Our price target for PNC Financial Services Group edges higher by about $0.45 to $251.90. This reflects analysts' updated assumptions around fair value, discount rate, and a slightly higher future P/E multiple in light of recent price target increases across the Street.
CCB
US$74.86
Coastal Financial
7D
-1.7%
1Y
-18.7%