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Nasdaq, S&P 500 Slip Ahead Of Fed Meeting, Regional Banks Sink After NYCB Disappoints: What's Driving Markets Wednesday?
Wednesday, January 31, 2024 - 1:45pm | 1158It’s a volatile day on Wall Street as tech stocks reacted to disappointing quarterly earnings ahead of the highly anticipated Federal Open Market Committee (FOMC) meeting. What Happened: In the lead-up to the FOMC meeting — scheduled for 2:00 p.m. ET on Wednesday, Jan. 31 — the tech-heavy...
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Top Bank Stock Picks For 2024: 'Valuations Are At 50% Discount To S&P 500,' Analysts Say
Thursday, January 4, 2024 - 3:11pm | 1311The possibility of a soft landing for the U.S. economy is gaining traction, prompting an increased interest in U.S. banking stocks, as Bank of America revealed in a note to clients on Thursday. The group of Bank of America’s equity analysts, led by Ebrahim H. Poonawala, point out several key...
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US Regional Banks Set To Erase All Losses Post SVB Fallout: Can They Maintain Momentum In 2024?
Thursday, December 21, 2023 - 9:43am | 792U.S. regional bank stocks have seen a significant uptrend over the recent weeks, reaching levels reminiscent of those during the onset of the Silicon Valley Bank crisis in March. The SPDR S&P Regional Banking ETF (NYSE:KRE), a pivotal gauge tracking more than a hundred industry players, has...
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Bill Gross Sees 'Extraordinary Long-Term Value' in Regional Banks: 3 ETFs To Watch
Tuesday, October 31, 2023 - 1:21pm | 854Legendary investor, fund manager and PIMCO co-founder Bill Gross sees extraordinary long-term value in regional banks. In a tweet posted on Oct. 30, Gross said he sees regional bank stocks as a “falling knife” that “hasn't hit ground yet“. Back in April, the Bond King had...
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Earnings Disappointment: Regions Financial and Citizens Financial Face Scrutiny By Piper Sandler Analyst
Wednesday, October 25, 2023 - 3:23pm | 559Piper Sandler analyst R. Scott Siefers downgraded Midwest banks Regions Financial Corp (NYSE: RF) and Citizens Financial Group Inc (NYSE: CFG) to Neutral from Overweight. The analyst cut the price target at Regions Financial to $15 from $17. The analyst...
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Small Banks And Credit Unions: From The American Dream To Cannabis Catalysts
Friday, October 20, 2023 - 11:38am | 466At the recent Benzinga Cannabis Capital Conference in Chicago, experts explored the role of small banks and credit unions in the cannabis industry. With regulatory challenges and evolving services, these institutions are vital for the sector's growth. What drives these smaller players into...
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Solving The Current Commercial Real Estate Crisis Will Take Private-Public Partnerships
Friday, September 15, 2023 - 2:35pm | 832The dark clouds over the commercial real estate market – and office buildings in particular – continue to gather as regional and community banks cut their loan exposure to the sector. Regional and community banks continue to dump commercial real estate loans under heavy regulatory...
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Regional Banks: Navigating A Goldilocks Scenario Amid Market & Geopolitical Challenges
Thursday, September 7, 2023 - 1:50pm | 996Regional banks took a hit earlier this year due to the Federal Reserve's rate-hiking cycle, several executives implementing poor risk management strategies, and attractive of money market rates. That said, given this so called "goldilocks" scenario many believe in, we may witness...
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Fed Pushes For Regional Banks To Improve Liquidity, Address Tech Flaws After Silicon Valley's Failure
Wednesday, August 30, 2023 - 3:05pm | 643U.S. regional banks are under the regulatory magnifying glass as the Federal Reserve discreetly pushes for enhanced liquidity planning. Following a series of bank failures this year, hitting the central bank has reportedly been issuing confidential warnings to lenders with assets ranging from $100...
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Regional Banks Navigate Regulatory Challenges Amidst Economic Uncertainties While Facing Credit Downgrades By Moodys And Fitch
Monday, August 21, 2023 - 1:55pm | 508In recent weeks, regional banks have encountered a series of formidable challenges, stemming not only from credit rating agencies but also from statements made by the FDIC Chair. The call for heightened regulations within the sector has cast a shadow over these financial institutions. Responding to...
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US Banking Sector Shaken: Moody's Drops Credit Ratings Of 10 Banks, Sounds Alarm For More Downgrades
Tuesday, August 8, 2023 - 9:02am | 1000Moody’s, the well-known credit rating organization, downgraded the ratings of 10 U.S. small and mid-sized banks by one notch late Monday, sending shockwaves across a sector still reeling from the collapse of regional banks in March. The banks affected by the downgrades includes M&T Bank...
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Banc Of California, PacWest Combine Forces With Aim To Create 'Robust, Well-Capitalized' Institution
Tuesday, July 25, 2023 - 5:32pm | 556Banc of California, Inc. (NYSE: BANC) and PacWest Bancorp (NASDAQ: PACW) shares were volatile in after-hours trading Tuesday after a merger between the companies was announced. The Banc Of California, PacWest Deal: The companies signed a definitive agreement through which they will combine...
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US Banking Heavyweights Set To Release Q2 Results: What To Watch For
Tuesday, July 11, 2023 - 2:20pm | 1024American banks’ earnings season is nearly here, with some industry heavyweights set to announce their second-quarter results on Friday, July 14. JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC), BlackRock Inc. (NYSE:BLK), Citigroup (NYSE:C), and State Street Corp. (...
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Fed's Call For Increased Capital Drives Bank Stocks Higher, Paving The Way For A Stronger Financial System
Monday, July 10, 2023 - 12:11pm | 601In a speech delivered on Monday at the Bipartisan Policy Center in Washington, D.C., the Federal Reserve Vice Chair for Supervision Michael Barr announced plans to enhance the financial cushions for larger banks in order to bolster the resilience of the banking system following a series of bank...
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'Mistakenly Released' FDIC Document Shows Big Venture Capital Firm Got Backstopped A Hefty Amount In SVB Collapse
Friday, June 23, 2023 - 11:18am | 584The aftermath of the Silicon Valley Bank (SVB) collapse has been anything but peaceful for startups, tech companies and regulatory bodies alike. The swift downfall of SVB, which went from solvent to insolvent within a span of two days in March, sent ripples across the banking and tech sectors....