Yahoo Finance 20 Largest Publicly Traded Financial Companies in the US
In this article, we will be taking a look at the 20 largest publicly traded financial companies in the US. If you want to skip our detailed analysis, you can go directly to see the 5 Largest Publicly Traded Financial Companies in the US.
Navigating the Financial Landscape
The finance sector plays a crucial role in the economic well-being of any country. Encompassing a wide range of industries, including banking, insurance, and investment management, the finance sector facilitates the flow of capital and enables businesses and individuals to access the resources they need to invest, grow, and thrive. According to a report by The Business Research Company, the global financial services market was estimated to have reached a value of $31.13 trillion in 2023. Looking forward, the market is expected to grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2028 to reach a value of $44.92 trillion by the end of the forecast period.
The United States is home to one of the biggest financial markets in the world. However, the finance sector is faced with a myriad of challenges that are shaping the industry's landscape. These challenges include regulatory complexity, technological disruption, cybersecurity threats, and economic uncertainty. On May 6, Reuters reported that in the first quarter of 2024, US banks observed a decrease in the demand for industrial loans and a drop in household credit demand, as per a Federal Reserve survey of senior loan officers. The survey revealed that the net share of large and medium-sized banks tightening standards for commercial and industrial loans increased to reach up to 15.6%, while demand for these loans weakened. The tightening of standards for commercial real estate loans decreased to a two-year low, with foreign banks experiencing increased demand for such loans. Regarding household loans, more banks tightened standards for auto loans, while fewer did so for credit cards and other consumer loans. Overall, household loan demand decreased across all categories, with demand for auto loans at its weakest over the past year.
If you are interested in learning about countries with the most developed financial markets, you can also take a look at the Insider Monkey Global Financial Development Index.
A Closer Look at the Top Financial Companies in the US
A number of companies within the finance industry have demonstrated remarkable resilience, adapting to the shifting landscape and capitalizing on emerging opportunities to drive growth. Some of the most valuable financial companies in the US are Wells Fargo & Company (NYSE:WFC), Mastercard Incorporated (NYSE:MA), and JPMorgan Chase & Co. (NYSE:JPM).
JPMorgan Chase & Co. (NYSE:JPM) is an American multinational finance corporation. It is one of the largest banks in the US by asset size in 2024. Under the J.P. Morgan and Chase brands, JPMorgan Chase & Co. (NYSE:JPM) serves millions of customers in the US, and many prominent corporate, institutional, and government clients around the world. On February 6, Forbes reported that JPMorgan Chase & Co. (NYSE:JPM) revealed its plans to open over 500 new Chase branches over the next 3 years. This plan to expand its branch network includes hiring 3,500 employees and also renovating 1,700 existing locations. JPMorgan Chase & Co.’s (NYSE:JPM) Chase bank has the largest branch network in the US and it stands out as the only bank with branches in all 48 contiguous states. The multi-billion dollar investment will facilitate Chase's expansion into new regions, including low-to-moderate income and rural communities, while increasing its presence in Boston, Charlotte, Minneapolis, Philadelphia, and the Washington, D.C. region.
Financial companies are actively expanding their presence and enhancing their business by launching new products and services to meet evolving market demands. Wells Fargo & Company (NYSE:WFC) is an American financial services company that provides a diversified set of banking, investment, and mortgage products and services. It is one of the most profitable banks in the US in 2024. On May 9, Wells Fargo & Company (NYSE:WFC) announced the launch of Signify Business Cash World Elite Mastercard, a new business credit card offering industry-leading cash rewards. This card addresses a gap in the cash rewards business credit card market by providing business owners with straightforward and valuable benefits. It features unlimited 2% cash rewards on business purchases without any caps or categories to track, and it comes with no annual fee. Signify Business Cash by Wells Fargo & Company (NYSE:WFC) provides business owners with clear and valuable rewards. Business owners can earn a $500 cash rewards bonus when they spend $5,000 in purchases for their business in the first three months. Additional benefits include Zero Liability protection, account alerts, and digital wallets.
Mastercard Incorporated (NYSE:MA) is a global financial technology company. The company offers payment solutions and services in over 210 countries and territories around the world. On May 1, Mastercard Incorporated (NYSE:MA) reported strong earnings for the fiscal first quarter of 2024. The company reported earnings per share (EPS) of $3.31, surpassing EPS estimates by $0.07. The company’s revenue for the quarter grew by 10.44% year-over-year and amounted to $6.35 billion, ahead of market consensus by $4.7 million. Here are some comments from Mastercard Incorporated’s (NYSE:MA) Q1 2024 earnings call:
“On a macroeconomic front, the picture remains mixed. First, strong labor markets and solid wage growth remain in countries across the globe. This is supportive of healthy consumer spending. Second, inflation has been moderating with a path towards normalization of monetary policy in most countries. Persistent inflation in the United States could delay rate cuts here. And third, geopolitical uncertainty remains in several countries. In addition to these areas, we are closely monitoring the strength of the dollar, commodity prices and consumer balance sheet health. With tailwinds and headwinds to economic growth remain on balance, we are positive about the growth outlook. With this backdrop, we are focused on our strategic priorities. Consumer payments, new flows and services and new networks.”
Now that we have discussed what’s going on in the world of finance, let’s take a look at the 20 largest publicly traded financial companies in the US.
A close-up of a hand holding a credit card, representing the companies multi-level payment services.
Methodology
In this article, we have listed the 20 largest publicly traded financial companies in the US. To find the top financial companies in the US, we consulted stock screeners from Yahoo Finance and Finviz. We then compiled a list of the top financial companies in the US by market cap as of May 9, 2024. We have ranked the 20 largest publicly traded financial companies in the US in ascending order of their market caps.
20 Largest Publicly Traded Financial Companies in the US
20. Capital One Financial Corporation (NYSE:COF)
Market Capitalization: $54.42 Billion
Capital One Financial Corporation is an American bank holding company that ranks among the 20 largest publicly traded financial companies in the US. Specializing in credit cards, auto loans, banking, and savings accounts, the company offers a wide range of financial products and services to consumers, small businesses, and commercial clients in the US, Canada, and the UK. Capital One Financial Corporation (NYSE:COF) has a market capitalization of $54.42 billion as of May 9, 2024.
19. PNC Financial Services Group Inc. (NYSE:PNC)
Market Capitalization: $62.52 Billion
PNC Financial Services Group Inc. (NYSE:PNC) is an American bank holding company and financial services corporation. It offers a full range of lending products and specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending, wealth management, and asset management. As of May 9, 2024, PNC Financial Services Group Inc. (NYSE:PNC) has a market capitalization of $62.52 billion.
18. Apollo Global Management Inc. (NYSE:APO)
Market Capitalization: $63.83 Billion
Apollo Global Management Inc. (NYSE:APO) is an asset management and retirement solutions corporation. It provides capital solutions to companies and retirement income solutions to institutions, companies, and individuals. As one of the top financial services companies in the US, Apollo Global Management Inc. (NYSE:APO) has a market capitalization of $63.83 billion as of May 9, 2024.
17. U.S. Bancorp (NYSE:USB)
Market Capitalization: $64.83 Billion
U.S. Bancorp (NYSE:USB) is an American bank holding company that ranks among the largest publicly traded financial companies in the United States. It is the parent company of the U.S. Bank National Association, and it provides a comprehensive line of banking, investment, mortgage, trust, and payment services and products to consumers, businesses, and institutions. As of May 9, 2024, U.S. Bancorp (NYSE:USB) has a market capitalization of $64.83 billion.
16. Paypal Holdings Inc. (NASDAQ:PYPL)
Market Capitalization: $67.41 Billion
PayPal Holdings Inc. (NASDAQ:PYPL) is an American multinational financial technology company that operates an online payment system. As one of the most valuable fintech companies in the US, PayPal Holdings Inc. (NASDAQ:PYPL) has a market capitalization of $67.41 billion as of May 9, 2024.
15. Moody's Corporation (NYSE:MCO)
Market Capitalization: $73.31 Billion
Moody's Corporation (NYSE:MCO) is an American financial services company that ranks among the top 15 largest publicly traded financial companies in the US. It is the parent company of Moody's Ratings, an American credit rating agency. The company also provides financial analysis data, software, and services. As of May 9, 2024, Moody's Corporation (NYSE:MCO) has a market capitalization of $73.31 billion.
14. CME Group Inc. (NASDAQ:CME)
Market Capitalization: $76.91 Billion
CME Group Inc. (NASDAQ:CME) is a financial services company that operates one of the world’s biggest derivatives marketplaces. Through its exchanges, the company offers a wide range of products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals. CME Group Inc. (NASDAQ:CME) provides electronic trading globally on its CME Globex platform. As one of the top finance companies in the world, CME Group Inc. (NASDAQ:CME) has a market capitalization of $76.91 billion as of May 9, 2024.
13. Intercontinental Exchange Inc. (NYSE:ICE)
Market Capitalization: $77.41 Billion
Intercontinental Exchange Inc. (NYSE:ICE) is a financial technology and services company that ranks among the largest publicly traded financial companies in the US. It operates exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital, and manage risk across multiple asset classes. As of May 9, 2024, Intercontinental Exchange Inc. (NYSE:ICE) has a market capitalization of $77.41 Billion billion.
12. Fiserv Inc. (NYSE:FI)
Market Capitalization: $91.04 Billion
Fiserv Inc. (NYSE:FI) is an American multinational financial services company. It specializes in financial technology services and solutions for global commerce, merchant acquiring, banking, billing and payments, and point-of-sale. As a global fintech and payments company, Fiserv Inc. (NYSE:FI) has a market capitalization of $91.04 billion as of May 9, 2024. It ranks 12th on our list of the largest publicly traded financial companies in the US.
11. Citigroup Inc. (NYSE:C)
Market Capitalization: $120.79 Billion
Citigroup Inc. (NYSE:C) is a banking institution and financial services corporation. As a major provider of wealth management and valued personal banking, it is one of the largest banks in the US by customers. The corporation does business in over 160 countries and jurisdictions, providing corporations, governments, investors, institutions, and individuals with a broad range of financial products and services. As of May 9, 2024, Citigroup Inc. (NYSE:C) has a market capitalization of $120.79 billion.
10. S&P Global Inc. (NYSE:SPGI)
Market Capitalization: $135.28 Billion
S&P Global Inc. (NYSE:SPGI) ranks among the top 10 largest publicly traded financial companies in the US. Specializing in financial information and analytics, the corporation provides credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity, and automotive markets. S&P Global Inc. (NYSE:SPGI) has a market capitalization of $135.28 billion as of May 9, 2024.
9. The Charles Schwab Corporation (NYSE:SCHW)
Market Capitalization: $137.82 Billion
The Charles Schwab Corporation (NYSE:SCHW) is an American multinational financial services company. Through its operating subsidiaries, the corporation provides a full range of brokerage, banking, and financial advisory services. As of May 9, 2024, The Charles Schwab Corporation (NYSE:SCHW) has a market capitalization of $137.82 billion.
8. Goldman Sachs Group Inc. (NYSE:GS)
Market Capitalization: $146.95 Billion
Goldman Sachs Group Inc. (NYSE:GS) is a global investment banking, securities and investment management firm. It offers a wide range of financial products and services to corporations, financial institutions, governments, and individuals. It is one of the largest banks in the US by total deposits. Goldman Sachs Group Inc. (NYSE:GS) has a market capitalization of $146.95 billion as of May 9, 2024.
7. Morgan Stanley (NYSE:MS)
Market Capitalization: $159.47 Billion
Morgan Stanley (NYSE:MS) is one of the top financial services companies in the US. It provides a wide range of investment banking, securities, wealth management, and investment management services to corporations, governments, institutions, and individuals. The company has offices in 42 countries around the world. As of May 9, 2024, Morgan Stanley (NYSE:MS) has a market capitalization of $159.47 billion.
6. American Express Company (NYSE:AXP)
Market Capitalization: $172.01 Billion
American Express Company (NYSE:AXP) is an American multinational financial services corporation that specializes in payment cards. The corporation also provides travel-related services. The corporation has an online-only banking division with no physical branch locations. As a globally integrated payments company, American Express Company (NYSE:AXP) has a market capitalization of $172.01 billion as of May 9, 2024. It ranks 6th on our list of the largest publicly traded financial companies in the US.
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Disclosure: None. 20 Largest Publicly Traded Financial Companies in the US is published on Insider Monkey.
