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U.S. Banks Industry Analysis

UpdatedJan 28, 2026
DataAggregated Company Financials
Companies640
  • 7D1.1%
  • 3M6.6%
  • 1Y14.4%
  • YTD-2.5%

Over the last 7 days, the Banks industry has risen 1.1%, driven by gains from Nu Holdings of 9.3%. In the last 12 months, the industry was up 14%. Looking forward, earnings are forecast to grow by 9.1% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 28 Jan 2026US$2.8tUS$708.6bUS$195.1b11.8x14.1x3.9x
Fri, 26 Dec 2025US$2.9tUS$696.2bUS$192.4b11.9x15.1x4.2x
Sun, 23 Nov 2025US$2.6tUS$695.9bUS$192.4b11.2x13.5x3.7x
Tue, 21 Oct 2025US$2.6tUS$691.4bUS$190.2b11.3x13.7x3.8x
Thu, 18 Sep 2025US$2.7tUS$677.7bUS$183.9b11.8x14.5x3.9x
Sat, 16 Aug 2025US$2.6tUS$678.0bUS$183.8b11.4x13.9x3.8x
Mon, 14 Jul 2025US$2.6tUS$668.4bUS$177.0b11.9x14.5x3.8x
Wed, 11 Jun 2025US$2.4tUS$668.7bUS$177.1b11.3x13.4x3.6x
Fri, 09 May 2025US$2.2tUS$667.9bUS$176.6b11.1x12.7x3.3x
Sun, 06 Apr 2025US$1.9tUS$662.3bUS$171.9b10.5x11.2x2.9x
Tue, 04 Mar 2025US$2.4tUS$662.9bUS$171.9b11.7x14.2x3.7x
Thu, 30 Jan 2025US$2.5tUS$662.4bUS$169.1b12.1x14.8x3.8x
Sat, 28 Dec 2024US$2.4tUS$655.1bUS$143.0b12.4x16.4x3.6x
Mon, 25 Nov 2024US$2.5tUS$654.9bUS$143.0b13.2x17.5x3.8x
Wed, 23 Oct 2024US$2.2tUS$651.7bUS$143.5b11.9x15.4x3.4x
Fri, 20 Sep 2024US$2.1tUS$653.8bUS$145.5b11.9x14.5x3.2x
Sun, 18 Aug 2024US$2.1tUS$653.1bUS$145.7b11.2x14.4x3.2x
Tue, 16 Jul 2024US$2.1tUS$661.4bUS$153.5b10.6x13.4x3.1x
Thu, 13 Jun 2024US$1.9tUS$655.5bUS$151.1b9.7x12.7x2.9x
Sat, 11 May 2024US$2.0tUS$655.2bUS$151.0b9.8x13.3x3.1x
Mon, 08 Apr 2024US$2.0tUS$653.7bUS$166.2b9.4x11.9x3x
Wed, 06 Mar 2024US$1.9tUS$654.2bUS$166.3b9.5x11.4x2.9x
Fri, 02 Feb 2024US$1.8tUS$662.9bUS$171.6b9.8x10.5x2.7x
Sun, 31 Dec 2023US$1.8tUS$668.2bUS$195.6b9.4x9.4x2.8x
Tue, 28 Nov 2023US$1.6tUS$668.0bUS$195.5b8.5x8.3x2.4x
Thu, 26 Oct 2023US$1.4tUS$665.2bUS$195.5b7.7x7.4x2.2x
Sat, 23 Sep 2023US$1.5tUS$656.8bUS$191.7b7.8x7.9x2.3x
Mon, 21 Aug 2023US$1.6tUS$656.8bUS$191.7b8.3x8.3x2.4x
Wed, 19 Jul 2023US$1.7tUS$652.5bUS$189.8b8.2x8.7x2.5x
Fri, 16 Jun 2023US$1.6tUS$642.3bUS$184.2b7.9x8.5x2.4x
Sun, 14 May 2023US$1.4tUS$641.8bUS$184.0b7.4x7.7x2.2x
Tue, 11 Apr 2023US$1.5tUS$624.0bUS$165.4b8.4x9.1x2.4x
Thu, 09 Mar 2023US$1.8tUS$617.8bUS$163.5b9.4x10.7x2.8x
Sat, 04 Feb 2023US$1.9tUS$616.8bUS$163.3b9.8x11.5x3.1x
Price to Earnings Ratio

11.5x


Total Market Cap: US$1.9tTotal Earnings: US$163.3bTotal Revenue: US$616.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Banks Industry Price to Earnings3Y Average 12.2x202420252026
Current Industry PE
  • Investors are optimistic on the American Banks industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 14.1x which is higher than its 3-year average PE of 12.2x.
  • The 3-year average PS ratio of 3.1x is lower than the industry's current PS ratio of 3.9x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 6.1% per year over the last three years.
  • Revenues for these companies have grown 4.7% 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 Market2.04%
Financials-0.23%
Banks1.12%
Regional Banks1.79%
Diversified Banks0.89%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry which is trading above its 3-year average PE ratio of 11.8x.
    • Analysts are expecting annual earnings growth of 7.0%, which is lower than the prior year's growth of 12.0% per year.
  • Investors are most pessimistic about the Regional Banks industry, which is trading close to its 3-year average of 13.8x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 7.0% 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
NU Nu HoldingsUS$18.559.3%
+US$7.7b		46.8%PB8.5x
WFC Wells FargoUS$88.712.4%
+US$6.3b		13.9%PB1.7x
C CitigroupUS$114.791.8%
+US$3.5b		43.6%PB1x
USB U.S. BancorpUS$56.534.0%
+US$3.3b		16.7%PB1.5x
BAP CredicorpUS$356.158.9%
+US$2.3b		96.3%PB2.6x

Latest News

WFC
US$88.71
Wells Fargo
7D
2.4%
1Y
13.9%
TFC
US$50.89
Truist Financial
7D
3.6%
1Y
7.7%
PNFP
US$95.30
Pinnacle Financial Partners
7D
-2.0%
1Y
-23.5%

PNFP: 2026 Merger Integration And Mid Cap Catch Up Will Unlock Upside

Our fair value estimate for Pinnacle Financial Partners has inched up to $115.71 from $114.86 as analysts lift price targets by $4 to $5 across several firms, citing updated views on growth, profitability and the bank's role in a mid cap group they see as poised for catch up in 2026. Analyst Commentary Recent research shows a mix of optimism and caution around Pinnacle Financial Partners, with several firms adjusting price targets and refreshing views ahead of upcoming earnings and through 2026.
FCNC.A
US$2,000.82
First Citizens BancShares
7D
-5.8%
1Y
-8.2%

FCNC.A: 2026 Roadmap Execution And Net Interest Income Trends Will Drive Upside

Analysts trimmed their price target on First Citizens BancShares by about $66, reflecting slightly higher discount rate assumptions and a lower future P/E multiple, even as they incorporate modestly stronger revenue growth and profit margin expectations supported by recent research updates across the Street. Analyst Commentary Street research on First Citizens BancShares is mixed, with some firms lifting targets while others pull back, often on the same set of fundamental drivers.
FBK
US$57.17
FB Financial
7D
-2.3%
1Y
8.3%

FBK: Share Repurchases And Dividend Increases Will Support Future Upside

Analysts have nudged their price target for FB Financial higher from US$65.17 to US$66.00, citing updated assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E. What's in the News FB Financial's board declared a quarterly cash dividend of $0.21 per share, a $0.02 increase from the prior quarterly dividend.
PNC
US$223.70
PNC Financial Services Group
7D
1.2%
1Y
10.9%

PNC: Higher Earnings Power And FirstBank Deal May Support Rerating

Analysts lifted their fair value estimate for PNC Financial Services Group by about $9.81 to $245.93, citing updated assumptions for modestly higher revenue growth and profit margins, along with a slightly lower discount rate and a recalibrated future P/E multiple in line with recent Street price target increases from firms including TD Cowen, HSBC and Evercore ISI. Analyst Commentary Recent Street research on PNC Financial Services Group centers on a series of higher price targets, updated earnings assumptions, and differing views on how quickly regional banks might regain favor with investors.
CFG
US$63.42
Citizens Financial Group
7D
6.0%
1Y
33.9%

CFG: Prime Rate Cut And Credit Trends Will Support Multi Year Upside

Analysts have lifted their price targets on Citizens Financial Group, supporting an increase in our fair value estimate from $67.18 to $71.38. This reflects updated assumptions around revenue growth, profit margins, and a slightly higher future P/E multiple.
CADE
US$43.15
Cadence Bank
7D
-3.0%
1Y
22.8%

CADE: All-Stock Huntington Deal Will Proceed With Balanced Rating Resets

Analysts have nudged their average price target on Cadence Bank slightly lower, from about $44 to roughly $43.11. This reflects updated merger related views and more measured assumptions for growth, profitability, and future P/E levels following the announced all stock sale to Huntington Bancshares.
JPM
US$300.31
JPMorgan Chase
7D
-0.8%
1Y
12.4%
PFBC
US$84.49
Preferred Bank
7D
-12.8%
1Y
-3.6%
HBAN
US$17.43
Huntington Bancshares
7D
-3.1%
1Y
1.2%
NU
US$18.55
Nu Holdings
7D
9.3%
1Y
46.8%

NU: Fair Outlook As Global Racing Partnership Aims To Lift Brand Profile

Analysts have raised their price target for Nu Holdings from US$9.35 to US$17.00, citing updated expectations for revenue growth, profit margins and a slightly higher assumed future P/E multiple. What's in the News Nu and the Mercedes-AMG PETRONAS F1 Team agreed to a new multi-year partnership, with Nu becoming an Official Team Partner ahead of the 2026 FIA Formula One World Championship Season.
BAP
US$356.15
Credicorp
7D
8.9%
1Y
96.3%

BAP: Stable Outlook Will Rely On Digital Progress And Steady Profitability

Analysts have nudged their price target on Credicorp higher to about US$314 from roughly US$301, citing updated model inputs around revenue growth, profit margins and future P/E assumptions that slightly shift the valuation range. What's in the News Tenpo, Credicorp's digital banking subsidiary in Chile, received operating authorization from the Comisión para el Mercado Financiero, the country's financial markets regulator (Key Developments).
CBSH
US$52.09
Commerce Bancshares
7D
-2.6%
1Y
-17.9%
USB
US$56.53
U.S. Bancorp
7D
4.0%
1Y
16.7%

USB: Higher Capital Returns And Capital Markets Expansion Will Support Steady Outlook

Analysts nudged their price targets for U.S. Bancorp higher after updating models that now point to a fair value of about $62.16. This figure is supported by slightly adjusted discount rates, a higher assumed revenue growth outlook, a somewhat lower profit margin assumption, and a modestly higher future P/E multiple.
C
US$114.79
Citigroup
7D
1.8%
1Y
43.6%

C: Future Buybacks And Impairment Charges Will Shape Earnings Quality

Analysts have lifted their fair value estimate for Citigroup from about US$95.74 to around US$111.68, citing updated assumptions for revenue growth, profit margin, and a lower future P/E multiple as key drivers of the change. What's in the News Citi is considering additional stake sales in its Mexican retail banking unit Banamex, after closing the sale of a 25% stake to Mexican investor Fernando Chico Pardo in mid December, while continuing preparations for a public sale of its remaining shares (Key Developments).