5 Best Bank Penny Stocks to Buy Now

In this piece, we will take a look at the five best bank penny stocks to buy now. If you want to take a look at what’s going on in the banking industry right now, head on over to 10 Best Bank Penny Stocks to Buy Now.

5. Grupo Aval Acciones y Valores S.A. (NYSE:AVAL)

Number of Hedge Fund Investors in Q1 2023: 6

Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) is a Colombian bank headquartered in Bogota. It offers products and services to both regular customers and businesses. These include different kinds of accounts, working capital loans, payroll products, and pension funds.

By the end of this year’s first quarter, six out of the 943 hedge funds part of Insider Monkey’s database had held a stake in Grupo Aval Acciones y Valores S.A. (NYSE:AVAL). Out of these, the firm’s largest shareholder is Jim Simons’ Renaissance Technologies with a $2 million stake that comes courtesy of 860,644 shares.

4. Mizuho Financial Group, Inc. (NYSE:MFG)

Number of Hedge Fund Investors in Q1 2023: 8

Mizuho Financial Group, Inc. (NYSE:MFG) is one of the bigger financial firms in the world. It is headquartered in Tokyo, Japan. The company provides retail and corporate banking services, as well as asset management and correspondence settlement products. Mizuho expanded its footprint in May 2023 when it acquired a mergers and acquisition advisory company.

Eight of the 943 hedge funds surveyed by Insider Monkey for their March quarter of 2023 shareholdings had bought the bank’s shares. Jim Simons’ Renaissance Technologies is Mizuho Financial Group, Inc. (NYSE:MFG)’s largest investor through a $4.8 million investment.

3. Banco Bradesco S.A. (NYSE:BBD)

Number of Hedge Fund Investors in Q1 2023: 11

Banco Bradesco S.A. (NYSE:BBD) is a Brazilian bank headquartered in Osasco, Brazil. It offers different kinds of deposit accounts as well as vehicle, mortgage, and other loans. Banco Bradesco S.A. (NYSE:BBD) was set up in 1943.

Insider Monkey’s March quarter of 2023 research that covered 943 hedge funds revealed that 11 had invested in Banco Bradesco S.A. (NYSE:BBD). Out of these, the bank’s biggest hedge fund shareholder is Ken Fisher’s Fisher Asset Management with a $63 million stake.

2. Banco Santander, S.A. (NYSE:SAN)

Number of Hedge Fund Investors in Q1 2023: 15

Banco Santander, S.A. (NYSE:SAN) is a Spanish bank headquartered in Madrid, Spain. It has a global presence and a diversified operational base including retail and investment operations. The bank claims to have provided thousands of individuals with financial education in 2022.

15 of the 943 hedge funds part of Insider Monkey’s database had held a stake in the bank as of Q1 2023. Banco Santander, S.A. (NYSE:SAN)’s largest hedge fund investor in our database is Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital with a stake that is worth $32 million.

1. First Foundation Inc. (NASDAQ:FFWM)

Number of Hedge Fund Investors in Q1 2023: 16

First Foundation Inc. (NASDAQ:FFWM) is an American regional bank operating out of Dallas, Texas. It has operations in five U.S. states. Through an investor presentation in June 2023, the bank outlined that 71% of its loans are in California, and that its shares have appreciated by 174% from listing until March 2022. However, the shares are down by more than 70% year to date.

As of March 2023, 16 of the 943 hedge funds covered by Insider Monkey had invested in First Foundation Inc. (NASDAQ:FFWM). Out of these, the biggest shareholder is Ravi Chopra’s Azora Capital with a $12.8 million investment.

Disclosure: None. You can also take a look at 25 Poorest Cities In The US That Are Getting Poorer and 11 Most Undervalued Foreign Stocks To Buy.

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