DB - This Is the Best-Performing Large Bank Stock in 2020
The struggles of the banking sector have been well documented, with most bank indexes down more than 30% this year. While some investors are optimistic about the industry, there hasn't been a lot of recovery to show among bank stocks, unlike in other industries. In fact, of the top 100 banks by assets according to the FDIC, only a few have seen their share prices rise above where they started the year.
So, maybe it's fitting that the top-performing large bank stock this year -- by far -- is one that few investors would guess. Deutsche Bank (NYSE: DB) traded for $7.78 per share on Dec. 31 and hit $9.81 at Wednesday's close, representing a 26% gain year to date. Let's examine what is driving this growth during such a difficult time for banks.
Image source: Deutsche Bank.