The Rise of the Magnificent Seven in the Banking Industry
While the tech sector is bustling with the likes of Nvidia, Microsoft, Amazon, Meta, Apple, Alphabet, and Tesla, there is a new lineup emerging in the small- and mid-cap banking sphere. JPMorgan analysts have dubbed them the “Magnificent 7” of regional lenders, pointing to their promising performance post-Q1 earnings.
Founded almost four decades ago in Raleigh, North Carolina, First Citizens Bancshares is making waves in the banking industry. The bank holding company with subsidiaries in various banking segments boasts a market cap of $25.17 billion.
Western Alliance Bancorporation
Western Alliance Bancorporation, established in 1919 in Phoenix, is a key player in commercial lending and specialty finance. Despite a 2.7% dip in share price YTD, analysts maintain a “Strong Buy” rating for the company.
Based in Wilmington, North Carolina, Live Oak Bancshares is known for its financing solutions tailored to specialized markets. With a market cap of $1.59 billion, the stock presents an opportunity for growth post-Q1 earnings.
Pinnacle Financial Partners
Pinnacle Financial Partners, a regional bank founded in 2000, offers a range of financial services primarily in the southeastern United States. Analysts project a potential upside of approximately 14.8% for this bank stock.
Cullen/Frost Bankers
Merger-created in 1977, Cullen/Frost Bankers provides comprehensive financial services to consumers and businesses. This banking giant, with a market cap of $6.88 billion, has a dividend yield of 3.39%.
Mvb Financial Corp
Operating out of Fairfax, Virginia, Mvb Financial Corp focuses on traditional community banking services and Banking-as-a-Service solutions. Despite a YTD dip, analysts see a beacon of hope for this financial holding company.
Webster Financial Corp
With roots stretching back to 1853, Webster Financial Corp serves southern New England and Westchester County, New York. The stock is down 9.5% YTD but offers a dividend yield of 3.48%.