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U.S. Banks Industry Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies630
  • 7D-3.0%
  • 3M-9.9%
  • 1Y16.8%
  • YTD-11.4%

Over the last 7 days, the Banks industry has dropped 3.0%, driven by declines in JPMorgan Chase and Wells Fargo of 1.3% and 3.9%, respectively. Over the past 12 months, the industry was up 17%. As for the next few years, earnings are expected to grow by 8.7% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 17 Mar 2026US$2.5tUS$707.1bUS$195.5b11.2x12.9x3.6x
Thu, 12 Feb 2026US$2.9tUS$706.1bUS$195.4b11.8x14.9x4.1x
Sat, 10 Jan 2026US$2.9tUS$693.7bUS$191.7b11.9x15.2x4.2x
Mon, 08 Dec 2025US$2.8tUS$695.9bUS$192.3b11.6x14.3x4x
Wed, 05 Nov 2025US$2.6tUS$695.2bUS$192.0b11x13.8x3.8x
Fri, 03 Oct 2025US$2.7tUS$678.0bUS$184.0b11.7x14.5x3.9x
Sun, 31 Aug 2025US$2.7tUS$678.7bUS$184.0b11.8x14.5x3.9x
Tue, 29 Jul 2025US$2.6tUS$677.3bUS$183.3b11.4x14.2x3.8x
Thu, 26 Jun 2025US$2.5tUS$668.9bUS$177.1b11.3x13.9x3.7x
Sat, 24 May 2025US$2.3tUS$668.5bUS$177.0b11.2x13.1x3.5x
Mon, 21 Apr 2025US$2.1tUS$666.6bUS$176.3b10.7x11.7x3.1x
Wed, 19 Mar 2025US$2.2tUS$663.0bUS$171.9b11.2x12.9x3.3x
Fri, 14 Feb 2025US$2.5tUS$662.3bUS$171.5b12.1x14.7x3.8x
Sun, 12 Jan 2025US$2.3tUS$654.3bUS$143.4b11.9x16x3.5x
Tue, 10 Dec 2024US$2.5tUS$655.1bUS$143.0b13.1x17.2x3.8x
Thu, 07 Nov 2024US$2.2tUS$654.1bUS$142.6b13x15.6x3.4x
Sat, 05 Oct 2024US$2.1tUS$654.4bUS$145.7b11.5x14.2x3.2x
Mon, 02 Sep 2024US$2.2tUS$653.0bUS$145.7b11.8x15.1x3.4x
Wed, 31 Jul 2024US$2.2tUS$652.5bUS$145.5b11.7x14.8x3.3x
Fri, 28 Jun 2024US$2.0tUS$655.4bUS$151.1b9.8x13x3x
Sun, 26 May 2024US$2.0tUS$655.5bUS$151.2b9.8x13.3x3.1x
Tue, 23 Apr 2024US$1.9tUS$654.1bUS$161.6b9.4x11.8x2.9x
Thu, 21 Mar 2024US$1.9tUS$654.3bUS$166.3b9.5x11.6x2.9x
Sat, 17 Feb 2024US$1.9tUS$652.8bUS$168.4b9.6x11x2.8x
Mon, 15 Jan 2024US$1.8tUS$667.1bUS$193.3b9.1x9.3x2.7x
Wed, 13 Dec 2023US$1.7tUS$667.9bUS$195.5b8.9x8.8x2.6x
Fri, 10 Nov 2023US$1.5tUS$666.8bUS$195.2b8.2x7.8x2.3x
Sun, 08 Oct 2023US$1.5tUS$656.7bUS$191.6b7.8x7.8x2.3x
Tue, 05 Sep 2023US$1.6tUS$656.8bUS$191.7b8.3x8.3x2.4x
Thu, 03 Aug 2023US$1.6tUS$655.0bUS$189.1b8.6x8.5x2.5x
Sat, 01 Jul 2023US$1.6tUS$642.2bUS$184.2b7.8x8.4x2.4x
Mon, 29 May 2023US$1.5tUS$642.2bUS$184.2b7.6x8.1x2.3x
Wed, 26 Apr 2023US$1.5tUS$673.7bUS$181.0b8x8.3x2.2x
Fri, 24 Mar 2023US$1.5tUS$623.8bUS$165.4b8.4x8.9x2.4x
Price to Earnings Ratio

8.9x


Total Market Cap: US$1.5tTotal Earnings: US$165.4bTotal Revenue: US$623.8bTotal 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-2.40%
Financials-2.98%
Banks-2.98%
Diversified Banks-2.91%
Regional Banks-3.18%
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
C CitigroupUS$107.350.7%
+US$1.3b		53.5%PB1x
BAP CredicorpUS$332.660.9%
+US$242.9m		74.3%PB2.4x
ESQ Esquire Financial HoldingsUS$110.3811.9%
+US$104.2m		54.8%PB3.1x
BPOP PopularUS$131.271.2%
+US$102.2m		45.1%PB1.4x
MCHB Mechanics BancorpUS$14.441.7%
+US$53.1m		123.7%PB1.1x

Latest News

ESQ
US$110.38
Esquire Financial Holdings
7D
11.9%
1Y
54.8%
BAC
US$47.06
Bank of America
7D
-1.8%
1Y
13.6%
NTB
US$50.77
Bank of N.T. Butterfield & Son
7D
2.0%
1Y
33.9%

NTB: Raised Price Outlook And Share Repurchases Will Support Future Upside Potential

Narrative Update on Analyst Price Target Analysts have raised their price target on Bank of N.T. Butterfield & Son by $7, citing updated research that reflects their latest views on valuation and business fundamentals. Analyst Commentary The recent price target increase on Bank of N.T. Butterfield & Son is based on updated analyst views of how the bank is executing against its business fundamentals and how that compares with its current valuation.
JPM
US$286.16
JPMorgan Chase
7D
-1.3%
1Y
22.3%
FITB
US$44.10
Fifth Third Bancorp
7D
-6.1%
1Y
13.1%

FITB: Comerica Integration Expected To Drive Best In Class 2026 Profitability

Analysts have nudged their fair value estimate for Fifth Third Bancorp higher by roughly $0.35 to $57.68. This reflects a series of recent price target increases across the Street that highlight expectations for loan growth, net interest margin support, capital return, and potential benefits from the Comerica acquisition.
CMTV
US$39.49
Community Bancorp
7D
26.1%
1Y
124.0%
TFC
US$44.52
Truist Financial
7D
-4.8%
1Y
8.5%
PNC
US$200.75
PNC Financial Services Group
7D
-2.2%
1Y
15.4%

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.
WFC
US$75.75
Wells Fargo
7D
-3.9%
1Y
6.9%

WFC: Future Returns Will Reflect ROTCE Expansion And Capital Return Durability

Analysts have nudged our Wells Fargo fair value estimate slightly lower to about $101 from roughly $102, reflecting modestly reduced sector valuation assumptions, even as they highlight stable earnings forecasts, steady profitability expectations, and a slightly lower future P/E multiple in recent price target moves across the Street. Analyst Commentary Recent Street research on Wells Fargo reflects a mix of optimism and caution, with several firms adjusting price targets in both directions while largely keeping earnings assumptions intact.
BAP
US$332.66
Credicorp
7D
0.9%
1Y
74.3%

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$14.27
Nu Holdings
7D
-2.7%
1Y
20.7%

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).
BPOP
US$131.27
Popular
7D
1.2%
1Y
45.1%

BPOP: Normalized Yield Curve And Buybacks Will Support Profitability Outlook

The analyst price target for Popular in our model has increased from $156.10 to $157.00, reflecting a series of recent target hikes across the Street as analysts cite a solid profitability outlook for regional banks and a more normalized yield curve. Analyst Commentary Across recent research updates, analysts are broadly positive on Popular, with several higher price targets and rating changes pointing to improving confidence in the regional and mid cap bank group.
C
US$107.35
Citigroup
7D
0.7%
1Y
53.5%

C: Capital Actions And Consumer Restructuring Will Shape Future Earnings Quality

Analysts have nudged their Citigroup price target slightly lower to about $114.04 from roughly $114.36, reflecting updated views on growth, profitability, discount rates and future P/E assumptions. What's in the News Citigroup Global Markets Inc.
FCNC.A
US$1,766.01
First Citizens BancShares
7D
-7.4%
1Y
-3.8%
MCHB
US$14.44
Mechanics Bancorp
7D
1.7%
1Y
123.7%
NWFL
US$28.66
Norwood Financial
7D
-1.0%
1Y
14.3%