Top 5 Bank Stocks To Own Right Now

It’s no secret that millennials prefer to use mobile apps instead of walking into a bank – and with good reason. Mobile financial apps offer a way to automatically invest, make purchases or transfer funds, and provide additional security options to protect customers from identity theft. According to a 2015 survey, 53% of smartphone owners with a bank account used a form of mobile banking

But which app or process has a strong chance of significantly changing how people bank or make purchases in the next few years? Four financial experts from Forbes Finance Council offer their predictions.

Clockwise from left: Ryan Marquis, Charlie Youakim,Vlad Rusz, Jeremy Almond.

1. Acorns 

Acorns simplifies investing to the point that anyone with a smartphone can launch a diverse portfolio and makes saving or investing fun. I even set aside time to use it with my kids and compare portfolios. They’re having fun while learning valuable lessons about investing and building wealth. These days, we want things to be both simple and on demand, and Acorns offers the best of both worlds. – Ryan Marquis, Plastc, Inc.

Top 5 Bank Stocks To Own Right Now: First Commonwealth Financial Corporation(FCF)

Advisors’ Opinion:

  • [By Ethan Ryder]

    First Commonwealth Financial (NYSE:FCF) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Monday.

  • [By Joseph Griffin]

    Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)

    For more information about research offerings from Zacks Investment Research, visit Zacks.com

  • [By Ethan Ryder]

    Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)

    For more information about research offerings from Zacks Investment Research, visit Zacks.com

  • [By Logan Wallace]

    Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)

    For more information about research offerings from Zacks Investment Research, visit Zacks.com

Top 5 Bank Stocks To Own Right Now: HSBC Holdings PLC (HSBA)

Advisors’ Opinion:

  • [By Stephan Byrd]

    Morgan Stanley set a GBX 855 ($10.91) price target on HSBC (LON:HSBA) in a research note issued to investors on Tuesday. The brokerage currently has a buy rating on the financial services provider’s stock.

  • [By Joseph Griffin]

    HSBC (LON:HSBA) had its target price lowered by equities research analysts at Shore Capital from GBX 721 ($9.60) to GBX 625 ($8.32) in a report issued on Tuesday. The brokerage presently has a “sell” rating on the financial services provider’s stock. Shore Capital’s price objective indicates a potential downside of 14.71% from the company’s previous close.

  • [By Max Byerly]

    HSBC Holdings plc (LON:HSBA) has received an average recommendation of “Hold” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is GBX 768.33 ($9.80).

  • [By Max Byerly]

    Credit Suisse Group set a GBX 720 ($9.32) price target on HSBC (LON:HSBA) in a research report sent to investors on Tuesday morning. The firm currently has a neutral rating on the financial services provider’s stock.

  • [By Ethan Ryder]

    HSBC (LON:HSBA) had its price target dropped by equities research analysts at Citigroup from GBX 810 ($10.78) to GBX 800 ($10.65) in a report released on Tuesday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target points to a potential upside of 9.59% from the stock’s previous close.

Top 5 Bank Stocks To Own Right Now: Wells Fargo & Company(WFC)

Advisors’ Opinion:

  • [By Chris Lange]

    Wells Fargo & Co. (NYSE: WFC) short interest rose to 31.18 million shares from the previous reading of 29.85 million. Shares were trading at $54.05, within a 52-week range of $49.27 to $66.31.

  • [By ]

    After Wells Fargo’s (NYSE: WFC) fake-accounts scandal was revealed in 2016, Buffett said that the bank remained a compelling long-term investment and that he had no plans to sell any of Berkshire’s massive stake. At last year’s meeting, Buffett reiterated that while the bank made a big mistake by incentivizing cross-selling, it still was a great company.

  • [By Jordan Wathen]

    The Federal Reserve isn’t pleased with Wells Fargo’s (NYSE:WFC) scandals, but it isn’t opposed to the bank paying out billions of dollars to its shareholders.

Top 5 Bank Stocks To Own Right Now: Ampco-Pittsburgh Corporation(AP)

Advisors’ Opinion:

  • [By ]

    In this Aug. 7, 2018, file photo the Samsung Galaxy Note 9 is shown in New York. (Photo: AP)

    If you’re not willing to switch or add a line, trading in your current phone could give you sizable discounts, particularly right now when values are boosted to entice people to upgrade to the latest iPhone, Galaxy or Android phone.

  • [By ]

    This undated photo provided by Ford shows the 2018 Ford Transit Connect, an example of a small cargo van. The Transit Connect's cargo van variant comes in two trims, the basic XL and the XLT, as well as an extended-wheelbase model that has additional space for cargo. And the Transit Connect has a notable advantage: It offers technology features such as Ford's Sync 3 infotainment system, blind-spot monitoring and adaptive fog lights. (Photo: AP)

  • [By ]

    Despite claims by President Donald Trump saying the U.S. stock market would crash if he was impeached, money managers stress that the stock market's longer-term direction and health are less about political drama and more about the overall strength of the economy. (Photo: AP)

  • [By ]

    Wellington, New Zealand (AP) — New Zealand plans to slaughter about 150,000 cows as it tries to eradicate a strain of disease-causing bacteria from the national herd.

  • [By ]

    New York (AP) — The bitter cold that followed a massive East Coast snowstorm should begin to lessen as temperatures inch up and climb past freezing next week, weather forecasters said.

  • [By ]

    New York (AP) — Demi Lovato has checked out of the hospital she was rushed to two weeks ago for a reported overdose.

    A person close to Lovato said she was released from Cedars-Sinai Medical Center in Los Angeles over the weekend. The person spoke on the condition of anonymity because the person wasn't allowed to speak publicly about the topic.

Top 5 Bank Stocks To Own Right Now: Canadian Imperial Bank of Commerce(CM)

Advisors’ Opinion:

  • [By Stephan Byrd]

    Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) declared a quarterly dividend on Wednesday, May 23rd, Zacks reports. Stockholders of record on Thursday, June 28th will be paid a dividend of 1.036 per share by the bank on Friday, July 27th. This represents a $4.14 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Wednesday, June 27th.

  • [By Garrett Baldwin]

    We’re about to reveal a little wealth secret that could unlock the trade of a lifetime. Money Morning Special Situation Strategist Tim Melvin takes you inside what could easily be a 10-bagger for investors in the weeks ahead. Read more right here.

    The Top Stock Market Stories for Tuesday
    The Euro has plunged to its lowest point against the U.S. dollar in 2018 thanks to political problems in Europe. The breakdown of power in Italy has raised new concerns about the nation’s ability to repay its debts, as the spread between German and Italian bonds has widened. Market instability has also spread to Spain where the nation’s parliament is preparing to vote on whether to oust Prime Minister Mariano Rajoy and his party. Oil prices slid one news that OPEC and Russia will consider hikes in production during a meeting in Vienna, Austria on June 22nd. The news accompanied reports that U.S. production is expected to rise throughout the summer. The price of WTI oil sat at $67.20 per barrel. The Brent crude oil price recovered this morning, adding 1% to hit $76.12. Canadian banks are under pressure this morning over a major breach by cyber criminals. The Bank of Montreal (NYSE: BMO) and the Canadian Imperial Bank of Commerce (NYSE: CM) – the two largest banking institutions in the country – announced that roughly 90,000 customers’ data may have been stolen. This would be the first major cybersecurity event to happen in Canada involving financial firms.
    Three Stocks to Watch Today: CRM, SBUX, MOMO
    com (NYSE: CRM) will lead a busy day of earnings reports on Wall Street. The cloud computing giant is set to report fiscal first quarter 2019 numbers after the bell on Tuesday. The average analyst projection calls for a 46% jump in EPS of $0.46 on top of a 23% gain in revenue to $2.94 billion. Starbucks’ Corporation (Nasdaq: SBUX) will temporarily close about 8,000 locations on Tuesday to train roughly 175,000 employees on racial bias. The training sessions were

  • [By Lisa Levin] Companies Reporting Before The Bell
    Target Corporation (NYSE: TGT) is estimated to report quarterly earnings at $1.38 per share on revenue of $16.50 billion.
    Ralph Lauren Corporation (NYSE: RL) is expected to report quarterly earnings at $0.83 per share on revenue of $1.48 billion.
    Lowe's Companies, Inc. (NYSE: LOW) is projected to report quarterly earnings at $1.25 per share on revenue of $17.63 billion.
    Tiffany & Co. (NYSE: TIF) is estimated to report quarterly earnings at $0.83 per share on revenue of $957.49 million.
    Canadian Imperial Bank of Commerce (NYSE: CM) is expected to report quarterly earnings at $2.23 per share on revenue of $3.40 billion.
    Citi Trends, Inc. (NASDAQ: CTRN) is projected to report quarterly earnings at $0.9 per share on revenue of $210.70 million.
    Qiwi plc (NASDAQ: QIWI) is expected to report quarterly earnings at $0.25 per share on revenue of $60.19 million.
    iClick Interactive Asia Group Limited (NASDAQ: ICLK) is projected to report quarterly loss at $0.06 per share on revenue of $34.87 million.

     

  • [By Logan Wallace]

    Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) – Analysts at Desjardins reduced their Q2 2018 earnings per share estimates for Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Wednesday, May 2nd. Desjardins analyst D. Young now forecasts that the company will post earnings of $2.85 per share for the quarter, down from their prior estimate of $2.86.

  • [By Motley Fool Staff]

    Canadian Imperial Bank of Commerce (NYSE:CM)Q2 2018 Earnings Conference CallMay 23, 2018, 8:00 a.m. ET

    Contents:
    Prepared Remarks Questions and Answers Call Participants
    Prepared Remarks:

    Operator

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