5 Best-Performing Bank Stocks In 2024

In this article, we discuss the 5 best-performing bank stocks in 2024. If you want to read our detailed discussion on the banking industry, head over to 12 Best-Performing Bank Stocks In 2024. 

5. Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Number of Hedge Fund Holders: 10

Share Price Performance as of February 10: 10.05%

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) is one of the best-performing bank stocks in 2024. Grupo Financiero Galicia S.A. (NASDAQ:GGAL) is an Argentine financial services holding company that provides personal loans, mortgage loans, credit and debit cards, and banking services. The company paid a $0.1433 per share dividend to stakeholders on September 1, 2023. 

According to Insider Monkey’s third quarter database, 10 hedge funds were bullish on Grupo Financiero Galicia S.A. (NASDAQ:GGAL), same as the prior quarter. Richard Driehaus’ Driehaus Capital is the leading stakeholder of the company, with 689,431 shares worth nearly $9 million. 

4. Woori Financial Group Inc. (NYSE:WF)

Number of Hedge Fund Holders: 2

Share Price Performance as of February 10: 10.59%

Woori Financial Group Inc. (NYSE:WF) is a commercial bank based in Korea, providing a range of financial services to individual, business, and institutional customers. The company operates through different segments, including Banking, Credit Card, Capital, Investment Banking, and Others. Woori Financial Group Inc. (NYSE:WF) is one of the best-performing bank stocks in 2024. 

On January 16, Bank of America analyst Jeehoon Park raised Woori Financial Group Inc. (NYSE:WF) shares from Neutral to Buy. This upgrade is based on the anticipation that substantial banks will experience increased investor attention in Korea due to the recovery in export growth.

According to Insider Monkey’s third quarter database, Arrowstreet Capital and Quantinno Capital were bullish on the stock, with collective stakes worth $279,158. 

3. The Bancorp, Inc. (NASDAQ:TBBK)

Number of Hedge Fund Holders: 18

Share Price Performance as of February 10: 13.82%

The Bancorp, Inc. (NASDAQ:TBBK) operates as a financial holding company for The Bancorp Bank, National Association, providing a variety of banking products and services in the United States. It is one of the top performing bank stocks this year. On January 25, The Bancorp, Inc. (NASDAQ:TBBK) reported a Q4 non-GAAP EPS of $0.95, in-line with market estimates. Revenue for the quarter increased 16.2% year-over-year to $119.15 million, outperforming Wall Street expectations by $28.5 million. 

According to Insider Monkey’s third quarter database, 18 hedge funds were bullish on The Bancorp, Inc. (NASDAQ:TBBK), compared to 22 funds in the preceding quarter. Richard Driehaus’ Driehaus Capital is the largest stakeholder of the company, with 561,045 shares valued at $19.35 million. 

2. Nu Holdings Ltd. (NASDAQ:NU)

Number of Hedge Fund Holders: 50

Share Price Performance as of February 10: 18.73%

Nu Holdings Ltd. (NASDAQ:NU) provides digital banking and financial services in Brazil, Mexico, Colombia, and internationally. Its offerings include credit and debit cards, mobile payment solutions, savings accounts, business accounts, cryptocurrency services, investment products, personal loans, and insurance solutions. It is one of the best-performing bank stocks in 2024. 

Nu Holdings Ltd. (NASDAQ:NU) experienced robust growth in revenue and adjusted net income in Q3 2023, driven by an increase in purchase volume and steady average cost per active customer. The Q3 2023 purchase volume rose to $29.0 billion from $26.3 billion in Q2 and $21.2 billion in the prior-year quarter. In the third quarter of 2023, Nu Holdings Ltd. (NASDAQ:NU) added 5.4 million customers, reaching a total of 89.1 million customers. Q3 2023 revenue reached $2.14 billion, surpassing the $2.05 billion consensus, marking an increase from $1.87 billion in the previous quarter and $1.31 billion a year ago.

According to Insider Monkey’s third quarter database, Nu Holdings Ltd. (NASDAQ:NU) was part of 50 hedge fund portfolios, compared to 44 in the last quarter. Warren Buffett’s Berkshire Hathaway is the leading stakeholder of the company, with a position worth $776.6 million. 

White Falcon Capital Management stated the following regarding Nu Holdings Ltd. (NYSE:NU) in its fourth quarter 2023 investor letter:

“The top 5 positions in the portfolio were: Precious Metals royalty basket, Nu Holdings Ltd. (NYSE:NU), AMD Amazon.com and Converge Technology Services. We often talk about our investment in Nu Holdings but have not presented you with a detailed research report. Our cost base on Nu is about $4 per share while the stock is currently trading for $9 per share. We continue to hold this position and, in the appendix to this letter, we are attaching our thesis on Nu Holdings. We are of the opinion that Nu is a rare company with the powerful combination of substantial market opportunity, an excellent business model, and an outstanding management team.

Nu Holdings is a $40 bn market capitalization company listed on the NYSE that provides digital banking platforms and digital financial services in Brazil, Mexico, Colombia. It offers Nu credit and debit cards; savings solutions, such as Nu Personal Accounts, and a digital account solution that supports all personal finance activities…” (Click here to read the full text)

1. KB Financial Group Inc. (NYSE:KB)

Number of Hedge Fund Holders: 12

Share Price Performance as of February 10: 24.05%

KB Financial Group Inc. (NYSE:KB) provides a wide range of banking and financial services to consumers and corporations in South Korea and internationally. The company operates through seven segments, including Retail Banking, Corporate Banking, Credit Card, Securities, Life Insurance, and Non-Life Insurance. It is one of the best-performing bank stocks to invest in 2024. On February 7, KB Financial Group Inc. (NYSE:KB) reported a net profit of WON 4,631.9 billion and a revenue of WON 12141.7 billion for fiscal year 2023. Revenue for the year increased 5.4% on a year-over-year basis.

According to Insider Monkey’s third quarter database, 12 hedge funds were long KB Financial Group Inc. (NYSE:KB), compared to 11 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company, with 1 million shares worth $41.4 million.

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