Jim Cramer’s Top 5 Bank Stock Picks This Year

In this article, we will take a look at Jim Cramer’s top 5 bank stock picks this year. To see more such companies, go directly to Jim Cramer’s Top 10 Bank Stock Picks This Year.

5. American Express Company (NYSE:AXP)

Number of Hedge Fund Holders: 73

Jim Cramer recently said that he’d be looking at American Express Company (NYSE:AXP)’s latest quarter earnings. While Cramer acknowledged that an under-pressure consumer in the US amid rising rates and inflation might impact American Express Company (NYSE:AXP) in the short-term, he said the company has “so much going for it” that the stock could be an interesting play.

As of the end of the second quarter of 2023, 73 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in American Express Company (NYSE:AXP). The biggest stakeholder of American Express Company (NYSE:AXP) was Warren Buffett’s Berkshire Hathaway which owns a $26 billion stake in the company.

ClearBridge Large Cap Value Strategy made the following comment about American Express Company (NYSE:AXP) in its Q3 2023 investor letter:

“Other detractors included American Express Company (NYSE:AXP), which fell on concerns over slower consumer spending and rising charge-offs, as well as wireless tower REIT American Tower, which was pressured by the increase in rates along with the broader real estate sector.”