5 Best Performing Bank Stocks in 2023

In this article, we discuss 5 best performing bank stocks in 2023. If you want to see more stocks in this selection, check out 12 Best Performing Bank Stocks in 2023. 

5. Banco Bbva Argentina SA (BCBA:BBAR)

Year To date Gain: 52%

Banco Bbva Argentina SA (BCBA:BBAR) is another bank out of Argentina that has outperformed the overall market. The stock is up by about 52% year to date outperforming the S&P 500, which is up by about 15% over the same period. The company has carved a niche in offering retail banking products and services as well as checking and savings accounts. It also offers loans, mortgages, Insurance, and other investment products.

In addition to significant price appreciation, Banco Bbva Argentina SA (BCBA:BBAR) also pays a solid 3.62% dividend yield, ideal for anyone looking to generate some passive income.

4. Banco Macro SA Class B (BCBA:BMA)

Year To date Gain: 60%

Banco Macro SA Class B (BCBA:BMA) is headquartered in Buenos Aires, Argentina, and offers banking products and services to retail and corporate customers. The bank is mostly focused on low to middle-income customers and small and mid-sized companies. While the bank delivered lackluster Q1 results, with net income dropping 52% as operating income increased 28% year over year.

While trading with a price-to-earnings multiple of 14, Banco Macro SA Class B (BCBA:BMA) is up by about 60% year to date and offers an enticing dividend yield of 3.50%.

3. First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Year To date Gain: 74%

Headquartered in Raleigh, North Carolina, First Citizens BancShares, Inc. (NASDAQ:FCNCA) is a leading regional bank that offers retail and commercial banking services to individual businesses and professionals. it offers checking savings and money market services in addition to offering loans products, including commercial construe union and mortgage

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has gained nearly 74% in market value year to date thanks to stellar financial results characterized by meaningful growth in tangible book value per share. Net interest income soared to $850 million in Q1 from $802 million the previous year as non-interested income totaled $10.26 billion compared to $429 million in Q4

2. Grupo Financiero Galicia S.A. (BCBA:GGAL)

Year To date Gain: 80%

Grupo Financiero Galicia S.A. (BCBA:GGAL) is a financial service holding company that has carved a niche in offering financial products and services in Argentina. While operating through banks, Insurance, and other business segments, it also offers personal loans, express, and mortgage loans.

Grupo Financiero Galicia S.A. (BCBA:GGAL) also offers consumer finance, digital baking, and financial and stock market services. While Grupo boasts of a dividend yield of 1.05%, the stock is up by more than 80% year to date.

1. Nu Holdings Ltd (NYSE:NU)

Year To date Gain: 130%

Nu Holdings Ltd (NYSE:NU) stand out as one of the best-performing banking stocks rallying by about 130% year to date. The stock has been flying high amid the high-interest rate environment, making banking stocks attractive. The financial institution offers digital financial services in Brazil, Mexico, and Columbia through its Nu credit don debit cards.

While lending to a credit-starved population, Nu Holdings Ltd (NYSE:NU) has gained access to valuable data that it uses to sell higher-margin products to customers, therefore, generating higher returns. The digital financial services company delivered record fourth-quarter results with growth across all metrics. Its customer base grew by 38% to 20.7 million as net income grew to $58 million, as revenue increased 168% to $1.45 billion and $4.8 billion for the year.

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