The Top 10 Largest USA Banks market capitalization increased $30.92 billion (+4.69%) as of June 29, 2012, compared to the last time reviewed at May 18, 2012. Benjamin Graham said, “In the short run, the market is a voting machine but in the long run it is a weighing machine.” How has the market voted and weighed since? The answer has been a rebound from the drop reported in the prior review, even though financial system uncertainty remains elevated.
The market valuation below is as of the market close on 6-29-12 and provides a snapshot of value. All prior and expected financial performance and position has been priced into these publicly traded stocks, along with any other financial system, economic, and political uncertainties to-date.
Wells Fargo continues to lead all USA and worldwide banks with a market capitalization of $171 billion. JPMorgan Chase, despite the trading losses, continues #2 at $137 billion. Bank of America ($83 billion) has surpassed Citigroup ($77 billion) to claim the #3 position.
Further back are #5 U.S. Bancorp ($60 billion) and #6 Goldman Sachs ($46 billion). PNC Financial Services ($31.40 billion) continues at #7 but Capital One at #8 has closed the gap ($31.01 billion). Both jumped ahead of struggling #9 Morgan Stanley at $27 billion earlier this year. BNY Mellon continues last and #10 at $25 billion.
The current aggregate market capitalization of these 10 Largest USA Banks is $690 billion, an increase of +$31 billion and +5% since last reviewed at the 5-18-12 market close.
By percentage and dollar change, from 5-18-12 to 6-29-12:
Bank of America +10.25%, +$7.75 billion
Capital One +8.81%, +$2.51 billion
JPMorgan +7.14%, +$9.13 billion
Wells Fargo +4.98%, +$8.13 billion
BNY Mellon +3.98%, +$0.97 billion
Morgan Stanley +3.90%, +$1.03 billion
US Bancorp +3.87%, +$2.24 billion
Citigroup +1.46%, +$1.11 billion
Goldman Sachs -2.09%, -$0.99 billion
PNC Fin Svcs -2.97%, -$0.96 billion
Data Source: YCharts