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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Source Fool.com
