DIRS.INFO The most relevant business & tech news

☆ US regional banks are still under pressure. That’s likely to continue
▼ + stars: | 2024-04-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Despite overcoming a crisis in 2023, the pain isn’t over for America’s regional banks. Shares of New York Community Bank have tumbled 71%, Bank OZK shares have slid 16% and Webster Financial shares have lost 11%. Regional banks reported wide losses on their profits during the first quarter. PNC projects that its net interest income will fall between 4% to 5% in 2024 from last year. “I’m worried about a handful of [regional banks],” Bair told CNBC on Tuesday.

Persons: that’s, Jerome Powell, “, ” Powell, Sheila Bair, “ I’m, ” Bair, ” Tesla, Tesla, Elon Musk, Chris Isidore, Musk, Chancellor Kathaleen McCormick, Read, Samantha Delouya, —, Maximilian Kotz, Leonie Wenz, Noah Diffenbaugh Organizations: CNN Business, Bell, New York CNN, Regional Banking, New York Community Bank, Bank OZK, Webster Financial, PNC Financial, T Bank, US Bancorp, Citizens, PNC, Valley Bank, Signature Bank, First Republic Bank, Federal Reserve, Wilson Center, Federal Deposit Insurance Corporation, CNBC, Tesla, Securities and Exchange Commission, United Nations, Potsdam, Climate, CNN, Stanford University Locations: New York, Delaware, ” Delaware

☆ This little-known bank is offering one of the highest CD rates
▼ + stars: | 2024-02-16 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Banks are dialing back the yields they pay on certificates of deposit, but a notable name is still commanding one of the highest rates available. New York Community Bank offers the highest CD rate for maturities under 36 months among the banks in Morgan Stanley's coverage, coming in at 5.5%. Webster Financial followed in second place, with a rate of 5.4%, and Bank OZK rounded out the top three with a rate of 5.3%. New York Community Bank is offering a sweetened annual percentage yield at a time when the institution itself is going through a period of tumult. NYCB YTD line YTD performance of NYCB shares In late January, the Hicksville, New York-based bank took a higher-than-anticipated charge against expected loan losses .

Persons: Banks, Morgan Stanley, Betsy Graseck Organizations: New York Community Bank, Webster, Bank OZK, Moody's Investors Service, Federal Deposit Insurance Corporation, Fed Locations: Morgan, , New York

☆ The 4 most important things we're watching in the stock market this coming week
▼ + stars: | 2024-01-20 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago

☆ These regional banks are at greatest risk of being taken over by rivals, according to KBW
▼ + stars: | 2023-11-27 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

A trio of regional banks face increasing pressure on returns and profitability that makes them potential targets for acquisition by a larger rival, according to KBW analysts. Banks with between $80 billion and $120 billion in assets are in a tough spot, says Christopher McGratty of KBW. The remaining lenders, including East West Bank, Popular Bank and New York Community Bank each have higher returns and could end up as acquirers rather than targets. "Not every bank is as profitable as others and there are scale demands you have to keep in mind." The moves broadly take measures that applied to the biggest global banks down to the level of institutions with at least $100 billion in assets, increasing their compliance and funding costs.

Persons: Banks, Christopher McGratty, McGratty, Zions Organizations: Comerica, Zions, Western Alliance, Webster, East West Bank, Popular Bank, New York Community Bank, Banking

☆ What does Moody’s downgrade mean for markets?
▼ + stars: | 2023-08-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Moody’s on Monday evening downgraded 10 US banks and put the credit ratings of six others on review, an indication that the agency could also eventually downgrade those institutions. Some investors say that while the Moody’s downgrade isn’t groundbreaking, it’s a reminder that the economy, and markets, still have challenges ahead. Moody’s downgraded Commerce Bank, BOK Financial, M&T Bank, Old National Bank, Prosperity Bank, Amarillo National Bank, Webster Financial, Fulton Financial, Pinnacle Financial and Associated Bank. Wall Street firms fined $549 million for using WhatsApp and other channelsWells Fargo is among a number of Wall Street firms that admitted Tuesday to using WhatsApp, Signal and other messaging platforms for “off-channel” communications in violation of federal recordkeeping requirements. The Securities and Exchange Commission said the Wall Street firms acknowledged wrongdoing and have agreed to pay penalties totaling $289 million, reports my colleague Matt Egan.

Persons: CNN — Moody’s, JPMorgan Chase, Wells, Goldman Sachs, BNY, Cullen, Frost, ” Moody’s, ”, Kara Murphy, Fitch, Christopher Marinac, Janney Montgomery Scott, Price, Matt Egan, Houlihan Lokey, Alicia Wallace Organizations: CNN Business, Bell, CNN, Bank, Dow Jones, Nasdaq, JPMorgan, Banking, BNY Mellon, Northern Trust, Frost Bankers, Truist Financial, US Bank, Moody’s, Commerce Bank, BOK, T Bank, National Bank, Prosperity Bank, Amarillo National Bank, Webster Financial, Fulton Financial, Pinnacle Financial, Associated Bank, PNC Financial Services, Financial, Citizens Financial, Fifth Third Bank, Huntington Bank, Regions Financial, Cadence Bank, FNB Corp, Simmons, Ally Financial, Bank OZK, Valley Bank, Signature Bank, Federal Reserve, Kestra Investment Management, Consumer, Wall Street, Securities, Exchange Commission, SEC, BNP, SG Americas, BMO Capital Markets, Mizuho Securities, SMBC Nikko Securities, Federal Reserve Bank of New Locations: Wells Fargo, Amarillo, Marinac, Wells, SMBC Nikko Securities America, WhatsApp, Federal Reserve Bank of New York, York

☆ Stocks making the biggest moves midday: Beyond Meat, Chegg, PNC Financial, Dish & more
▼ + stars: | 2023-08-08 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The health care company reported earnings per share of $1.31. Organon posted $1.61 billion in revenue, beating analysts' expectations of $1.57 billion. Beyond Meat — The plant-based meat company fell 16% during midday trading after missing on second-quarter revenue, citing weak U.S. demand. The fragrance and cosmetics company reported revenue of $2.93 billion, falling shorter than analysts' estimates of $3.07 billion, according to StreetAccount. See Corp. — Shares of the packaging company lost 7% after See missed revenue expectations for the second quarter.

Persons: Moody's, Goldman Sachs, JPMorgan Chase, Organon, StreetAccount, Chegg, Charlie Ergen, EchoStar, Eli Lilly —, Eli Lilly, Palantir, —, Samantha Subin, Jesse Pound, Alex Harring, Hakyung Kim Organizations: PNC Financial, Citizens, T Bank —, T Bank, Webster, PNC, JPMorgan, Nordisk —, Technologies, Refinitiv . Fox Corp, Corp, —

☆ Moody's cuts ratings of 10 U.S. banks and puts some big names on downgrade watch
▼ + stars: | 2023-08-08 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Moody's cut the credit ratings of a host of small and mid-sized U.S. banks late Monday and placed several big Wall Street names on negative review. Moody's also changed its outlook to negative for 11 banks, including Capital One , Citizens Financial and Fifth Third Bancorp . Among the smaller lenders receiving an official ratings downgrade were M&T Bank , Pinnacle Financial , BOK Financial and Webster Financial . "Meanwhile, many banks' Q2 results showed growing profitability pressures that will reduce their ability to generate internal capital. Though the stress on U.S. banks has mostly been concentrated in funding and interest rate risk resulting from monetary policy tightening, Moody's warned that a worsening in asset quality is on the horizon.

Persons: Moody's, Cullen, Frost, Jill Cetina, Ana Arsov Organizations: New York Stock Exchange, Bank, New York Mellon, U.S . Bancorp, Truist, Frost Bankers, Northern Trust, Capital, Citizens Financial, Fifth Third Bancorp, T Bank, Pinnacle Financial, BOK, Webster, Regional, Silicon Valley Bank, Signature Bank, Credit Suisse, UBS, Federal Reserve, Fed Locations: New York City, U.S, Regional U.S, Silicon, Europe, Swiss

☆ Regional bank shares under fire again after credit downgrade, head for worst day in three months
▼ + stars: | 2023-08-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Moody's downgraded the credit of 10 small regional banks by one notch apiece, while 17 other banks were either given negative outlook or had their rating put under review. In a note, Moody's cited many of the concerns around interest rate risk that led to the collapse of several regional banks earlier this year. Among the banks that were downgraded on Tuesday, shares of M&T Bank and Webster Financial fell more than 3% each. Shares of PNC Financial and Citizens Financial Group , which were given negative outlooks by Moody's, fell about 4%. That puts the fund on track for its worst day since May 4, when the fund fell nearly 5.5%.

Persons: Moody's Organizations: T Bank, Webster Financial, PNC Financial, Citizens Financial Group, Regional Banking

☆ US stocks fall as Moody's downgrades drag bank shares lower
▼ + stars: | 2023-08-08 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Moody's bank downgrades late Monday added to the uncertain macroeconomic landscape. Bank stocks moved lower, and investors will look ahead to Thursday's CPI report. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The smaller lenders that Moody's officially downgraded include Pinnacle Financial, Webster Financial, and M&T Bank. Already, 89% of S&P 500 companies have reported for the second quarter, and nearly 80% have beaten Wall Street expectations, FactSet data shows.

Persons: Stocks, Moody's Organizations: Dow, Nasdaq, CPI, Service, US Bancorp, Bank of New York Mellon, Northern Trust, Pinnacle Financial, Webster Financial, T Bank, Federal, Dow Jones Locations: Bank, Wall, Silicon, Here's

☆ Factbox: U.S. banks increase reserves for commercial real estate exposure
▼ + stars: | 2023-07-21 | by ( Matt Tracy | ) www.reuters.com time to read: +5 min

While regional banks carry the greatest exposure to the commercial real estate (CRE) sector, second quarter earnings show that a number of big banks have prepared for potential defaults, primarily on office loans. However, Borthwick noted the bank's office CRE exposure was low relative to its overall loan portfolio, at 2%. CRE loans represented just 15% of the bank's overall lending book, while only 1% of the CRE loan portfolio was office-related. WELLS FARGO (WFC.N)The bank said it had a $949 million increase in its allowance for credit losses, primarily CRE office loans. WEBSTER FINANCIAL CORP (WBS.N)The regional bank's nonperforming CRE loans ticked up to $47.9 million last quarter from $35.8 million in the first quarter.

Persons: Goldman Sachs, Andrew Kelly, Alastair Borthwick, Borthwick, GOLDMAN SACHS, markdowns, Denis Coleman, Jeremy Barnum, WELLS, Charlie Scharf, Bruce Van Saun, Dominic Ng, East, James Leonard, MORGAN STANLEY, Webster, Glenn MacInnes, John Ciulla, Matt Tracy, Michelle Price, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, U.S, AMERICA CORP, GOLDMAN SACHS GROUP INC, Goldman, JPMORGAN CHASE &, JPMorgan, Citizens, EAST WEST BANCORP, East, BANCORP, WEBSTER FINANCIAL, Thomson Locations: New York City , New York, U.S, California, CRE

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

☆ Wall Street analysts like these regional bank stocks if you can withstand the chaos in the market
▼ + stars: | 2023-05-09 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The continued slide for regional bank stocks after the failure of First Republic last week has created some buying opportunities in the sector, according to Wall Street analysts. "We believe this recent stock reaction is overdone as there is currently no evidence of accelerating deposit outflows. We see accelerating deposit costs, not accelerating deposit outflows, as the most significant headwind for the midcap banks over the next several quarters," Gosalia wrote. Huntington and Webster also rise to the top of the heap for RBC Capital Markets analyst Jon Arfstrom. Both Huntington and Webster are down about 30% for the year, which is better than the SPDR S & P Regional Banking ETF (KRE).

☆ Small caps will be large this year, says Jefferies. Here are 10 buy ideas
▼ + stars: | 2023-04-20 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Small-cap stocks could beat their large-cap counterparts in 2023, according to Jefferies. Equity strategist Steven DeSanctis said small-cap stocks have cheap relative valuations while volume has slid, high-yield spreads have tightened and cyclicals have been sold off. Expectations are low with poor sentiment for small caps, DeSanctis said. Taken together with the attractive valuations, improving merger and acquisition landscape and better macroenvironment, he said he believes small caps will outperform in 2023. Given this varied landscape, DeSanctis screened for smaller-cap stocks that have lagged year to date but do well in Jefferies' modeling.

☆ The SVB crisis has opened up a window to buy 'great banks at a severe discount' after a panic-induced sell-off, CFRA says
▼ + stars: | 2023-03-29 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

East West Bancorp and Citizens Financial made its list of stocks investors should look at. Regional banks with strong deposit balances and have high percentages of insured deposits are solid bets. Silicon Valley Bank's deposits fell 13% during that same period as the bank's primary venture capital customers struggled with rising interest rates. Yokum called Regions Financial is a leader in insured deposits, with an outsized 63% of its deposits insured. Yokum has "buy" ratings on Citizens Financial Group, Fifth Third Bancorp, Regions Financial, Synovus Financial and Webster Financial.

☆ These are the 3 essential questions nobody is asking after Silicon Valley Bank's implosion — and the 5 bank stocks you should be buying, according to UBS
▼ + stars: | 2023-03-16 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Regional banks remain under fire after the sudden undoing of Silicon Valley Bank. UBS answered three of the biggest questions bank investors should be asking right now. Here are five of the firm's favorite regional bank stocks to buy for upside. The shocking collapse of Silicon Valley Bank, the shutdown of Signature Bank, and "material weaknesses" reported at Credit Suisse led investors to panic-sell bank stocks — even those without financial issues. Below is a summary of those questions and the best answers based on UBS projections, along with the regional bank stocks that stand out in regards to each.

Search resuls for: "Webster Financial"

15 mentions found