Jim Cramer says these are his favorite bank stocks in 2022

Date:

CNBC Jim Cramer On Thursday we reviewed a recent slate of major bank earnings and explained why his philanthropic trusts are sticking to their ownership. Morgan Stanley When Wells Fargo..

“Banks are everywhere this season, which only shows the importance of individual stock selection.” “Seriously” Said the host. “Not all banks are built equally,” he said, even though he expects 2022 to be a solid year for the overall finances, given the potential for a Federal Reserve rate hike. Added.

Citigroup

when Citigroup Report on friday, This shows that operating expenses increased by 18% year-on-year. It was a shame for Wall Street, as the company’s revenue increased by only 1%, Kramer said.

Kramer said the best thing he could say about Citi’s stock was that it was cheap and traded at about 80% of its tangible book value. However, he acknowledged that stocks, which fell nearly 5% last week, could rise this quarter when Citi resumed stock repurchases. The bank suspended the repurchase program in December due to regulatory issues.

JP Morgan

Investors were also disappointed JP MorganExpenses other than interest surged, 11% increase from the previous yearSaid Kramer. It’s no secret that JP Morgan is investing in its business to fend off FinTech competition, but Cramer said Street was a little surprised by the size of its capital commitment.

Kramer said he believes the sharp post-earnings sold out of JP Morgan’s stock are a bit exaggerated. “After this fall, JP Morgan has been trading at just 13 times more profit, [a book value basis].. I think we can do better. “

Wells Fargo

Owned by Wells Fargo, a Kramer charitable trust Exceed analysts’ expectations at top and bottom lines.. “Most importantly, think of Wells Fargo when you see bond yields soaring because Wells is so sensitive to interest rates,” Kramer said under CEO Charlie Schaff. The bank’s turnaround in Japan was “finally rewarded,” he added.

Goldman Sachs

Kramer Repeated his positive outlook upon Goldman SachsExplain that he believes investment banking giants can Follow up on that record 2021 We showed a strong performance this year as well. “Goldman is one of the best franchises on the planet, but it sells for heaven with less than nine times the revenue,” he said.

He said the only reason his charitable trust doesn’t own Goldman Sachs is because it already owns Morgan Stanley. “I have a lot of faith in diversification. You don’t have to have two investment banks in your portfolio,” he said.

Morgan Stanley

Kramer said he was very impressed Wednesday Morgan Stanley QuartersPlease note that earnings and earnings per share exceed Street’s expectations. The investment banking sector and wealth management are doing well, and expenses remain under control, Kramer said.

“Oh, they’re actively buying back stock. What do you hate?” Kramer asked rhetorically.

Bank of America

Kramer said Bank of America, Which Report on Wednesday, Brought solid numbers, including the fact that revenue growth of 10% outperformed cost growth of 6%.

“Like Wells Fargo, Bank of America is very sensitive to interest rates, which means it’s in a great position in 2022,” said Kramer, whose charitable trust owns Bank of America. He added that the only reason he didn’t do it was because he liked Wells Fargo. ..

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Jim Cramer says these are his favorite bank stocks in 2022

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The post Jim Cramer says these are his favorite bank stocks in 2022 appeared first on Eminetra.

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