Tag: XLF
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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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U.S. bank stocks fall again in fourth straight day of losses
[ad_1] U.S. bank stocks fell Thursday for the fourth straight day amid talk of higher interest rates and increased capital requirements by regulators to strengthen the banking system. The stocks fell as Martin Gruenberg, chairman of the Federal Deposit Insurance Co., said U.S. regulators may lower the threshold for Basel III capital requirements to institutions…
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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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Morgan Stanley stock dips as CEO James Gorman announces departure within ‘the next 12 months’
[ad_1] Morgan Stanley’s stock dipped early Friday as CEO James Gorman, speaking at the bank’s annual general shareholder meeting, aired a plan to step down sometime in the next 12 months. He has been in the role since 2010. “The specific timing of the CEO transition has not been determined, but it is the board’s…
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JPMorgan investor day should ‘reinforce the resiliency’ of the megabank: analyst
[ad_1] BofA Securities reiterated its buy rating on JPMorgan Chase & Co. ahead of the megabank’s investor day on Monday, calling the bank an outperformer in a tough year for the sector. “We expect Monday’s investor day to reinforce the resiliency of the business model while showcasing franchise investments that should position the bank to remain…
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PacWest, Western Alliance stocks rise as Hovde Group calls ‘near bottom’ in sector after potential ‘market manipulation’
[ad_1] Hovde Group analysts on Friday said bank stocks offer a “rare entry point” as they called a potential bottom to the steep selloffs in the sector amid speculation about further bank failures despite updates from regional banks on deposit strength. “There is nothing new fundamentally occurring with bank system deposits (other than the already…
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Bank stocks drop again as PacWest free fall ‘feeds that narrative’ of weakness despite a ‘fundamentally sound’ business
[ad_1] Western Alliance Bancorp, PacWest Bancorp and First Horizon Corp. posted steep losses Thursday as clouds hung over the banking sector a day after the U.S. Federal Reserve hiked interest rates by a quarter-point. First Horizon FHN dropped 36% after it said its merger with Toronto-Dominion Bank TD CA:TD would not close, some 15 months…