Goldman Sachs Bank Stocks: Top 5 Stock Picks

In this article, we discuss the top 5 bank stocks in the Goldman Sachs portfolio. If you want to read our discussion on the banking industry, head over to Goldman Sachs Bank Stocks: Top 10 Stock Picks. 

5. American Express Company (NYSE:AXP)

Goldman Sachs’ Stake Value: $594,833,757

Number of Hedge Fund Holders: 77

American Express Company (NYSE:AXP) provides credit cards, banking, and travel-related services worldwide. It is one of the top Goldman Sachs bank stocks. In the first quarter of 2023, Goldman Sachs held 3.60 million shares of American Express Company (NYSE:AXP) worth $594.8 million, representing 0.12% of the total portfolio. 

On July 21, American Express Company (NYSE:AXP) reported Q2 GAAP earnings per share of $2.89, beating market estimates by $0.08. However, the revenue increased 12.3% year-over-year to $15.05 billion, yet fell short of Wall Street consensus by $310 million. 

According to Insider Monkey’s first quarter database, Warren Buffett’s Berkshire Hathaway held the largest stake in the company, with 151.6 million shares worth $25 billion. Overall, 77 hedge funds were long American Express Company (NYSE:AXP) during the March quarter. 

ClearBridge Large Cap Value Strategy made the following comment about American Express Company (NYSE:AXP) in its first quarter 2023 investor letter:

“Other financial holdings were among the top contributors, such as American Express Company (NYSE:AXP), whose business is less sensitive to changes in the yield curve than most financials, and Progressive, which has minimal interest rate mismatch exposure.”