5 Best Diversified Bank Stocks to Invest In

1. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 103    

JPMorgan Chase & Co. (NYSE:JPM) operates as a financial services company worldwide. On March 13, investment advisory RBC Capital maintained an Outperform rating on JPMorgan Chase & Co. (NYSE:JPM) stock with a price target of $185. 

At the end of the fourth quarter of 2023, 103 hedge funds in the database of Insider Monkey held stakes worth $9 billion in JPMorgan Chase & Co. (NYSE:JPM), compared to 109 in the preceding quarter worth $6 billion. 

In its Q4 2023 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and JPMorgan Chase & Co. (NYSE:JPM) was one of them. Here is what the fund said:

“PNC Financial and JPMorgan Chase & Co. (NYSE:JPM) performed well due to more benign inflation data, which the market likely interpreted as a sign that a recession is now less likely to occur. Recall that historically speaking, banks are hyper-cyclical stocks and typically will trade lower if investors foresee a recession, because recessions tend to trigger loan losses.”

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