Tag: Regional Banks
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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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Bank ETFs bounce, with this fund heading for potentially best month since 2021
[ad_1] Exchange-traded funds that buy bank stocks jumped Tuesday as investors assessed Wall Street’s latest batch of second-quarter earnings results from giants including Bank of America and Morgan Stanley. The Invesco KBW Bank ETF KBWB, +3.05% closed up slightly more than 3% Tuesday, while the SPDR S&P Regional Banking ETF KRE, +4.22% surged 4.2%, according…
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Why stock-market bulls see small-caps shaking off bank worries to take rally baton
[ad_1] Small-cap stocks — left behind by the 2023 U.S. stock-market rally led by technology stocks — are poised to play catch-up in the second half, shaking off worries about a regional banking crisis that threatened to rattle financial markets earlier this year. “We think that if this rally actually has legs and broadens out,…
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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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JPMorgan raises net-interest-income guidance to reflect $3 billion bump from First Republic Bank takeover
[ad_1] JPMorgan Chase & Co. raised its net-interest-income guidance on Monday by $3 billion to reflect the bump it will get from its takeover of First Republic Bank. The bank is now expecting its 2023 net interest income (NII) to come to $84 billion, up from $81 billion forecast in April. That’s well above the…
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Dow falls with debt-ceiling and regional-bank worries in focus
[ad_1] U.S. stocks turned lower Friday as worries about the debt-ceiling deadline and concerns around the need for more mergers of regional banks. What’s happening The Dow Jones Industrial Average DJIA, -0.33% was down almost 105 points, or 0.3%, at around 33,431. The S&P 500 SPX, -0.14% fell almost 6 points, or 0.1%, to 4,192.…