10 Best American Bank Stocks To Buy Now

5. The Goldman Sachs Group, Inc. (NYSE:GS)

Number of Hedge Fund Holders: 72

The Goldman Sachs Group, Inc. (NYSE:GS) is an American investment banking and financial services firm, offering a range of financial services to a diversified pool of clients. It operates through the Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments.

On January 13, the company announced the formation of the Capital Solutions Group to expand its private credit business. The unit is being established by combining solution activities within the company’s Global Banking & Markets segment. It will include the provision of investment banking services to private equity firms, finding investors who could offer capital for deals, and making loans tied to collateral to other lenders.

The move is among the string of measures Goldman Sachs has undertaken in recent years to combine its investment banking franchise with leading market businesses to offer comprehensive strengths to its customers. The creation of the Capital Solutions Group will provide clients access to differentiated investment and sourcing opportunities in private credit, which is one of the hottest areas on Wall Street currently.

On January 15, The Goldman Sachs Group, Inc. (NYSE:GS) announced financial results for the fourth quarter of fiscal 2024, topping estimates on both revenue and earnings. The bank’s profits have roughly doubled year-over-year, driven by a surge in higher equities and fixed-income trading revenue, robust investment banking results, and shrinking expenses.

The company’s share price has spiked 13% since the declaration of Q4 2024 results which reflected the bank’s strength in serving clients despite a challenging macroeconomic environment. Wall Street analysts are bullish on The Goldman Sachs Group, Inc. (NYSE:GS) with a consensus Buy rating. It is one of the best American stocks to buy now, with 72 hedge funds having a stake in the company.