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U.S. Banks Industry Analysis

UpdatedMar 19, 2026
DataAggregated Company Financials
Companies631
  • 7D-1.6%
  • 3M-8.8%
  • 1Y15.6%
  • YTD-10.7%

Over the last 7 days, the Banks industry has dropped 1.6%, driven by declines in Truist Financial and Bank of America of 1.1% and 0.3%, respectively. In the past year, the industry has gained 16%. 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, 20 Mar 2026US$2.5tUS$707.1bUS$195.5b11.1x13x3.6x
Sun, 15 Feb 2026US$2.8tUS$708.2bUS$195.8b11.9x14.2x3.9x
Tue, 13 Jan 2026US$2.9tUS$693.7bUS$191.6b11.8x15.1x4.2x
Thu, 11 Dec 2025US$2.7tUS$695.9bUS$192.3b11.9x14.3x3.9x
Sat, 08 Nov 2025US$2.7tUS$695.4bUS$192.1b11.1x13.8x3.8x
Mon, 06 Oct 2025US$2.7tUS$678.0bUS$184.0b11.8x14.5x3.9x
Wed, 03 Sep 2025US$2.7tUS$678.7bUS$184.0b11.8x14.5x3.9x
Fri, 01 Aug 2025US$2.6tUS$678.1bUS$183.6b11.2x14x3.8x
Sun, 29 Jun 2025US$2.5tUS$668.9bUS$177.1b11.4x14.2x3.8x
Tue, 27 May 2025US$2.3tUS$668.5bUS$177.0b11.2x13x3.4x
Thu, 24 Apr 2025US$2.1tUS$667.2bUS$176.6b10.8x11.9x3.2x
Sat, 22 Mar 2025US$2.2tUS$663.0bUS$171.9b11.2x13.1x3.4x
Mon, 17 Feb 2025US$2.5tUS$662.3bUS$171.5b12.1x14.8x3.8x
Wed, 15 Jan 2025US$2.4tUS$654.3bUS$143.4b12.2x16.6x3.6x
Fri, 13 Dec 2024US$2.4tUS$655.1bUS$143.0b13x17x3.7x
Sun, 10 Nov 2024US$2.4tUS$654.4bUS$142.7b12.7x16.8x3.7x
Tue, 08 Oct 2024US$2.1tUS$654.4bUS$145.7b11.4x14.6x3.2x
Thu, 05 Sep 2024US$2.2tUS$653.0bUS$145.6b11.6x14.9x3.3x
Sat, 03 Aug 2024US$2.1tUS$652.4bUS$145.4b11.1x14.4x3.2x
Mon, 01 Jul 2024US$2.0tUS$649.6bUS$149.6b9.9x13.5x3.1x
Wed, 29 May 2024US$2.0tUS$655.5bUS$151.2b9.7x13.3x3.1x
Fri, 26 Apr 2024US$2.0tUS$653.1bUS$162.0b9.6x12.1x3x
Sun, 24 Mar 2024US$2.0tUS$654.3bUS$166.3b9.5x11.8x3x
Tue, 20 Feb 2024US$1.8tUS$652.8bUS$168.4b9.6x11x2.8x
Thu, 18 Jan 2024US$1.8tUS$668.9bUS$185.8b9.1x9.5x2.6x
Sat, 16 Dec 2023US$1.8tUS$667.8bUS$195.5b9.4x9.3x2.7x
Mon, 13 Nov 2023US$1.5tUS$667.4bUS$195.2b8.2x7.8x2.3x
Wed, 11 Oct 2023US$1.5tUS$656.7bUS$191.6b7.9x7.9x2.3x
Fri, 08 Sep 2023US$1.5tUS$656.8bUS$191.7b8x8x2.3x
Sun, 06 Aug 2023US$1.7tUS$656.3bUS$189.6b8.7x8.9x2.6x
Tue, 04 Jul 2023US$1.6tUS$641.8bUS$184.0b7.8x8.6x2.5x
Thu, 01 Jun 2023US$1.5tUS$642.2bUS$184.2b7.4x8x2.3x
Sat, 29 Apr 2023US$1.5tUS$641.2bUS$172.7b8.1x8.9x2.4x
Mon, 27 Mar 2023US$1.5tUS$624.0bUS$165.4b8.5x8.9x2.4x
Price to Earnings Ratio

8.9x


Total Market Cap: US$1.5tTotal Earnings: US$165.4bTotal Revenue: US$624.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Banks Industry Price to Earnings3Y Average 12.3x202420252026
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 12.3x.
  • The 3-year average PS ratio of 3.2x is lower than the industry's current PS ratio of 3.6x.
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-2.19%
Financials-1.56%
Banks-1.56%
Diversified Banks-1.29%
Regional Banks-2.32%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry, which is trading close to its 3-year average PE ratio of 12.0x.
    • Analysts are expecting annual earnings growth of 6.6%, 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 6.6% 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$287.971.8%
+US$13.7b		20.5%PB2.3x
C CitigroupUS$109.854.1%
+US$7.6b		53.0%PB1x
WFC Wells FargoUS$76.391.5%
+US$3.5b		5.3%PB1.4x
NU Nu HoldingsUS$14.161.4%
+US$922.6m		24.2%PB6.1x
BAP CredicorpUS$328.321.0%
+US$247.6m		69.0%PB2.3x

Latest News

BAC
US$47.01
Bank of America
7D
-0.3%
1Y
10.7%
TFC
US$43.88
Truist Financial
7D
-1.1%
1Y
6.2%
WFC
US$76.39
Wells Fargo
7D
1.5%
1Y
5.3%
JPM
US$287.97
JPMorgan Chase
7D
1.8%
1Y
20.5%
WTFC
US$133.22
Wintrust Financial
7D
1.3%
1Y
16.8%
FHN
US$21.73
First Horizon
7D
-2.0%
1Y
13.1%
USB
US$51.30
U.S. Bancorp
7D
-0.3%
1Y
20.4%
C
US$109.85
Citigroup
7D
4.1%
1Y
53.0%

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.
HBAN
US$15.17
Huntington Bancshares
7D
-2.0%
1Y
1.5%
WBS
US$68.74
Webster Financial
7D
1.2%
1Y
33.4%

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.
MTB
US$196.24
M&T Bank
7D
-1.0%
1Y
10.9%

MTB: Loan Momentum And Buybacks Will Drive Returns Despite Credit Risk

M&T Bank's updated analyst price target edges higher, with the fair value estimate moving from about $233 to roughly $235. Analysts cite factors such as loan growth, net interest income momentum and balance sheet trends, while acknowledging that some recent price moves already reflect an improved outlook.
PNC
US$202.05
PNC Financial Services Group
7D
-0.3%
1Y
16.5%

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.
BAP
US$328.32
Credicorp
7D
1.0%
1Y
69.0%

BAP: Future Returns Will Rely On Digital Bank And Capital Reserves

Analysts now see Credicorp's fair value at about $345, up from roughly $334, reflecting updated assumptions around discount rates, revenue growth, profit margins, and a higher future P/E multiple. What's in the News Board meeting on April 25, 2024 to consider transferring S/1,778.8 million from retained earnings to reserves, signaling a focus on capital allocation discipline (Key Developments).
NU
US$14.16
Nu Holdings
7D
1.4%
1Y
24.2%

NU: US Banking Approval And F1 Partnership Will Support Upside Potential

Analysts have nudged their price target on Nu Holdings to $17.20 from $17.00, reflecting updated assumptions on discount rates, revenue growth, profit margin and a higher 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. This is a key step toward offering deposit accounts, credit cards, lending and digital asset custody under a US federal banking framework (Key Developments).
FLG
US$12.51
Flagstar Bank National Association
7D
2.2%
1Y
3.3%
FCNC.A
US$1,803.23
First Citizens BancShares
7D
-1.1%
1Y
-2.2%