Although many investors are mixed on the banking sector in 2023, I do see a scenario in which bank stocks perform well if they can manage credit and deposit costs accordingly and there isn't too severe of a recession this year. One good thing about bank stocks is that many of them pay healthy dividends, and banks will definitely be active buyers of their own stock through share repurchases when they have excess capital.
That's why a good strategy for this year could be to look at bank stocks that not only are performing well but also return lots of capital to shareholders through dividends and share repurchases. Here's one of the smartest stocks to buy for this purpose in 2023.
While the brand has been around for centuries, the Citizens Financial Group (NYSE: CFG) that you see today spun out from the Royal Bank of Scotland only in 2014, so it's really a newer bank. With close to $225 billion of assets, I would categorize Citizens as a super-regional bank.
For further details see:
1 of the Smartest Stocks to Buy for Dividends and Share Repurchases in 2023