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Stocks•30 June 2026•

1 min read

Analyst Recommends Selling Bank Stocks After Record Highs

Key Facts

1JPMorgan, Goldman Sachs, and Bank of America hit fresh highs this month.

2Oppenheimer says it's time to take profits and exit bank stocks.

Following a strong rally that pushed major bank stocks to new record highs this month, Oppenheimer analysts have recommended taking profits and exiting positions, arguing the gains may be unsustainable. According to reports from Barron's, shares of JPMorgan, Goldman Sachs, and Bank of America hit all-time highs in recent days.

The warning comes as market data shows other bank stocks such as Citigroup, Morgan Stanley, and Wells Fargo are trading below their record levels, indicating divergence within the sector. JPMorgan closed at $329.61 on June 30, while Goldman Sachs closed at $1,020.21 on June 29, and Bank of America at $57.88 on June 29.

Investors are now watching the Federal Reserve's bank stress test results released recently, which may provide further insight into sector resilience. Upcoming economic reports on inflation and GDP could also influence interest rate expectations and consequently bank profitability.