Tag: CFG
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Regional-bank stocks move up after PacWest deal suggests stabilization in sector
[ad_1] Regional-bank stocks rose Wednesday as hard-hit PacWest Bancorp agreed to be acquired by Banc of California in a sign that the hangover from bank failures earlier this year may be receding. “The implied take out price of $9.60 is higher than many estimated, with ‘[PacWest] resolution’ a net positive for the banking sector,” KBW…
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HELOCs are back. Cash-strapped borrowers are tapping into a $33 trillion pile of home equity.
[ad_1] Goodbye pandemic refi cash-outs. Hello HELOCs? Home-equity lines of credit (HELOCs) and second-lien mortgages have been staging a notable comeback as U.S. homeowners look for liquidity and ways to monetize the pandemic surge in home prices, according to BofA Global. It used to be that borrowers sitting on an estimated $33 trillion pile of…
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Regional bank crisis may be far from over, experts warn
[ad_1] The stock-market panic over the regional banks has subsided for now, but experts say that regulators should remain focused on shoring up the stability of the sector amid economic headwinds that could persist for years to come. Shares of regional banks like PacWest Bancorp Corp. PACW, +4.41% have rebounded in the past week following…
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Mastercard rolls out its first credit card for visually impaired consumers
[ad_1] Mastercard Inc. will roll out its first U.S. credit card for visually impaired consumers, done in partnership with Citizens Financial Group. Citizens’ CFG, -2.78% new private-client credit card will feature a square notch on the side of the card meant to signify to blind and partially sighted customers that the card is a credit…
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Big banks performed well in Q1 despite ‘gut-wrenching volatility’: analyst
[ad_1] JPMorgan Chase & Co. and Goldman Sachs Group Inc. earned the highest praise from KBW analyst David Konrad for their first-quarter profits, according to a research note. “Despite the gut-wrenching volatility in bank stocks, the overall market has performed well, supporting growth in wealth and investment management revenues,” Konrad said in a report published…
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Loan growth, lower margins cloud the skies over big banks: analyst
[ad_1] While bank stocks may recover slightly after lagging the broad market in 2023, first-quarter earnings updates from big banks may not provide much additional lift as big clouds hang over the sector, JPMorgan analysts said Monday. Banks continue to face a litany of concerns from inflation to recession to jitters around the banking system…