WAL - 2 Overlooked Bank Stocks That Just Crushed Earnings
Despite interest rates sitting at all-time lows, banks have found ways to make record amounts of money -- and financial stocks are among the best performers of 2021 as a result. Typically, banks are favored by institutional investors for their safe haven status and steady income streams, but this year many of them have performed like growth stocks .
Consumers are cashed up with stimulus dollars and appear willing to borrow and spend as we emerge from the pandemic. Ally Financial (NYSE: ALLY) and Western Alliance Bancorporation (NYSE: WAL) have been big beneficiaries, with their shares up roughly 46% and 59%, respectively, in 2021. Both companies just delivered second-quarter earnings reports that suggest there's still plenty of growth left.
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2 Overlooked Bank Stocks That Just Crushed Earnings