5 Best Bank and Finance Stocks to Buy According to Mario Gabelli

1. American Express Company (NYSE: AXP)

Number of Hedge Fund Holders: 52

American Express Company (NYSE: AXP) is ranked first on our list of 10 best bank and finance stocks to buy according to Mario Gabelli. The company provides payments services and is based in New York. GAMCO Investors owned more than 1 million shares in the firm at the end of the second quarter of 2021 worth $168 million, representing 1.42% of the portfolio. 

On July 26, investment advisory RBC Capital reiterated a Sector Perform rating on American Express Company (NYSE: AXP) stock and raised the price target to $185 from $174, noting that the second quarter earnings of the firm were strong with revenue trends improving. 

Out of the hedge funds being tracked by Insider Monkey, Washington-based firm Fisher Asset Management is a leading shareholder in American Express Company (NYSE: AXP) with 15.3 million shares worth more than $2.5 billion. 

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and American Express Company (NYSE: AXP) was one of them. Here is what the fund said:

“In financials, American Express has done an excellent job demonstrating the resiliency of its franchise in the midst of a global pandemic that drove a 60% decline in its core travel and entertainment business. The company’s spend-centric model has been helped by fiscal stimulus ensuring a flush consumer, while management continues to execute well by adding millions of new consumer and small and medium business accounts, which should benefit the franchise over the medium to long term. We remain optimistic regarding the company’s prospects as travel and entertainment activity rebounds, adding to our position in the quarter.”

You can also take a peek at Stanley Druckenmiller is Loading Up on These 15 Stocks and 10 Stocks to Buy and Hold for Long Term According to Warren Buffett.

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