Tag: PNC
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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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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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First Republic seen drawing bids from JPMorgan and PNC amid report of ‘imminent’ FDIC seizure
[ad_1] First Republic Bank FRCis said to be drawing bids from lenders JPMorgan Chase & Co. JPM and PNC Financial Services Group PNC, according to the Wall Street Journal late Friday night, citing people familiar with the matter. The WSJ report follows another harrowing day for the San Francisco-based lender that has lost nearly all…
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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…