5 financial services stocks Gu

On the back of the Federal Reserve’s announcement of the largest rate hike in nearly three decades, five bank stocks are high guru buys as of the Q1 13F portfolio filing date Citigroup Inc. (C, Finance), JPMorgan Chase & Co. (JPM, Financial), Webster Financial Corp. (psp, Finance), Bank of America Corp. (BAK, Financial) and Wells Fargo & Co. (WFC, finance) according to the Aggregated Portfolio of Gurus, a premium feature of GuruFocus.

US market explodes as Federal Reserve announces biggest rate hike in three decades

On Wednesday, the Dow Jones Industrial Average closed at 30,668.53, 303.70 points higher than Tuesday’s 30,364.83.

Stocks rose on the back of the central bank, which hiked interest rates to a range of 1.5% to 1.75%, 0.75% higher than the previous range and the highest rate hike since 1994. Fed Chair Jerome Powell added in adding to a news conference that while interest rates would rise while rate hikes will be made by meeting, the central bank may raise interest rates by a further 0.5% to 0.75% in July.

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As investors monitor Fed interest rate movements, GuruFocus’ Aggregated Portfolio allows users to view the most widely held Guru stocks for a specific sector or market cap. For example, users can view bank stocks with high Guru buys from Q1 based on 13F stock portfolio submissions.

Investors should be aware that 13F filings do not provide a complete picture of a company’s holdings, as the reports only include its positions in US stocks and US depositary receipts, but can still provide valuable information. Furthermore, the reports only reflect trades and holdings as of the last portfolio submission date, which may or may not be held by the reporting firm today or even at the time of publication of this article.

Citigroup

27 gurus own shares of Citigroup (C, Finance) with a combined weighting of 44.16%. In the first quarter, 16 gurus bought shares.

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Citigroup shares traded around $47.15, showing the stock is significantly undervalued based on Wednesday’s price-to-GF value ratio of 0.69.

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The New York-based bank has a GF Score of 71 out of 100 based on a GF Value rank of 8 out of 10, a Momentum rank of 7 out of 10, a Profitability rank of 5 out of 10 and a Growth rank of 4 out of 10 and a financial strength rank of 3 out of 10.

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Warren Buffett (Trades, Portfolio) by Berkshire Hathaway Inc. (BRK.A, Financially)(BRK.B, Financial) has invested in 55,155,797 shares of Citigroup, giving the position a 0.81% weighting in its stock portfolio.

JPMorgan Chase

Thirty gurus own shares of JPMorgan Chase (JPM, Finance) with a combined weighting of 31.13%. Fourteen gurus bought shares in the first quarter.

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JPMorgan Chase shares traded around $115.17, showing the stock is slightly undervalued based on Wednesday’s price-to-GF value ratio of 0.79.

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The New York-based bank has a GF Score of 77 out of 100: Although the bank has a GF Value rank of 9 out of 10 and a rank of 6 out of 10 for profitability and growth, JPMorgan Chase’s financial strength is second to none Ranked 4th out of 10 while its momentum is 5th out of 10.

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Gurus with holdings in JPMorgan Chase include

PRIMECAP administration (Trades, Portfolio) and

ken fisherman (Trades, Portfolio) by Fisher Investments.

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Webster Financial

Fourteen gurus own shares of Webster Financial (psp, Finance) with a combined weighting of 4.64%. Eleven gurus invested in stocks in the first quarter.

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Shares of Webster Financial traded around $45.73, showing the stock is slightly undervalued based on Wednesday’s price-to-GF-value ratio of 0.87.

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The Stamford, Connecticut-based bank has a GF Score of 83 out of 100, driven by a rank of 8 out of 10 for growth and momentum and a rank of 7 out of 10 for profitability and GF value, although financial strength ranks only 3rd of 10.

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Bank of America

Thirty gurus own shares of Bank of America (BAK, Finance) with a combined weighting of 107.87%. Ten gurus bought shares in the first quarter.

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Bank of America shares traded around $32.05, showing the stock is slightly undervalued based on Wednesday’s price-to-GF-value ratio of 0.85.

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The Charlotte, North Carolina-based bank has a GF Score of 71 out of 100, driven by a Momentum rank of 8 out of 10 and a GF Value rank of 7 out of 10, although profitability, growth and financial strength are between 3 and 5 are out of 10.

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Wells Fargo

36 gurus own stocks of Wells Fargo (WFC, Finance) with a combined weighting of 97.22%. Eight gurus bought shares in the first quarter, although 22 gurus sold shares.

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Wells Fargo shares traded around $38.17, showing the stock is slightly undervalued based on Wednesday’s price-to-GF-value ratio of 0.80.

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The San Francisco-based bank has a GF score of 80 out of 100, driven by a momentum rank of 10 out of 10, a GF value rank of 9 out of 10, a growth rank of 7 out of 10, and a profitability rank of 6 out of 10 10 and a financial strength rank of 3 out of 10.

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About Paige McCarthy

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