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East West Bancorp shares have eked out a small gain in 2024, up 2%. Despite the heightened scrutiny around regional banks, little-known East West Bancorp has been able to pull ahead thanks to a key customer base: Asian Americans. American dream = home ownershipPart of what's helping East West succeed with Asian Americans goes all the way back to its origins. East West Bancorp was founded in 1973 as a federal savings and loan in the Los Angeles area to service the Chinese American and immigrant community struggling to obtain mortgages and business loans. East West also drives cross-border activity between the U.S. and other Asian countries, such as Thailand and Vietnam.
Persons: Alexander Yokum, Wells, Timur Braziler, Fannie Mae, Freddie Mac, , Braziler, Christopher Del Moral, Niles, it's, Del, Steven Leung, Leung, CFRA's Yokum, Yokum, Dominic Ng, that's Organizations: East West Bancorp, Regional Banking, Bancorp, West Bancorp, CFRA, Federal Housing Finance Agency, East, East West, U.S, Bancorp's Locations: Southern California, U.S, United States, East, Los Angeles, Asia, FactSet, East West, New York, Beijing, China, Shanghai, Thailand, Vietnam, Washington
JPMorgan analyst Vivek Juneja upgraded the regional bank stock to an overweight rating from neutral, simultaneously lifting his price target to $39.50 from $37.50. — Lisa Kailai Han 6:27 a.m.: Deutsche Bank downgrades Starbucks after disappointing quarterly earnings Starbucks could feel some near-term pressure, according to Deutsche Bank. Analyst C. Stephen Tusa also raised his price target to $111 from $110, implying that shares of 3M could rally 15% from here. 3M stock has added nearly 6% so far in 2024, but the stock is still trading at an attractive valuation given the company's characteristics, Tusa said. Amongst the group, JPMorgan analyst Doug Anmuth has the highest price target of $240, which implies that Amazon stock could rally another 37% from here.
Persons: Vivek Juneja, Juneja, — Lisa Kailai Han, Samik Chatterjee, Chatterjee, Lauren Silberman, Silberman, Lisa Kailai Han, Stephen Tusa, Tusa, 3M's, Morgan Stanley, Doug Anmuth, Anmuth, — Lisa Kailai Han — CNBC's Michael Bloom Organizations: CNBC, JPMorgan, Starbucks, Deutsche Bank, Fifth, Bancorp, Logitech, 3M, Barclays, Bank of America, Amazon, Services, Wall Street, Locations: China
Many shares look expensive in today's market, but there are still cheap stocks to be found — some of which can be held for the next 10 years, according to the pros. They shared with CNBC Pro their tips for picking cheap stocks that hold long-term promise, as well as their top picks. How to pick cheap stocks Morningstar's Susan Dziubinski says she believes in owning stocks that offer "some sense of certainty" in terms of cash flow and company fundamentals. Freddie Lait, chief investment officer at Latitude Investment Management, says a willingness to invest in some cyclical stocks is key. Cheap stocks to hold for the long term Morningstar's Dziubinski named three cheap stocks that investors can hold for the next decade: U.S. consumer health firm Kenvue , regional U.S. bank U.S. Bancorp , and medical equipment firm Zimmer Biomet .
Persons: Susan Dziubinski, isn't, Freddie Lait, Lait, he's, Dziubinski, Zimmer Biomet, Morningstar, Bancorp Morningstar, AutoZone Organizations: CNBC, Latitude Investment Management, U.S . Bancorp, Companies, Bancorp Locations: U.S, AutoZone
It's been a year this week since the collapse of Silicon Valley Bank sent shockwaves through the banking sector. Wells Fargo shares got a big boost after a key win with regulators in mid-February. It would allow Wells Fargo to finally grow its assets again and help rake in more profits. MS YTD mountain Morgan Stanley (MS) year-to-date performance Conversely, the Club's other bank stock, Morgan Stanley , has been lagging in 2024 — down 7% year to date. A combination file photo shows Wells Fargo, Citibank, Morgan Stanley, JPMorgan Chase, Bank of America and Goldman Sachs.
Persons: It's, SVB, NYCB, Steven Mnuchin's, Wells Fargo, Wells, they've, Scott Siefers, Piper Sandler, we're, Charlie Scharf, Morgan Stanley, Morgan Stanley's underperformance, management's, Ted Pick, Jim Cramer, Morgan Stanley's, Morgan, Jim, Reddit, Jim Cramer's, JPMorgan, Goldman Sachs Organizations: Silicon Valley Bank, shockwaves, Bank, , New, , New York Community, Strategic Capital, Wells, Wells Fargo, Currency, Federal Reserve, CNBC, Club, Management, Morgan Stanley's IB, Citibank, JPMorgan Chase, Bank of America, Reuters Locations: Silicon, Wells, ,, , New York, Wells Fargo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat New York Community Bancorp's billion dollar lifeline means for the battered stockChris McGratty, KBW Head of Bank Research, joins 'Fast Money' to talk NYCB's recent cash infusion to help it stay afloat and what he expects to see from the bank moving forward.
Persons: Chris McGratty Organizations: York Community, of Bank Research Locations: York
A real estate boss expects at least 500 banks to fail or be taken over in the next two years. Scott Rechler, CEO of RXR, said the maturing of commercial real estate loans would hit smaller lenders. Commercial real estate has been hit by declining asset prices, costlier borrowing, and tighter lending. AdvertisementHundreds of American banks will collapse or be taken over by 2026, a top real estate executive predicted. Silicon Valley Bank, Signature Bank, and Silvergate Bank folded last spring after worries about their health spurred a wave of deposit withdrawals.
Persons: Scott Rechler, , Fortune, I'm, It's, Jamie Dimon's Organizations: Service, Deposit Insurance Corporation, Silicon Valley Bank, Signature Bank, Silvergate Bank, New, New York Community, Federal Reserve, JPMorgan Locations: New York
Total assets in money market funds have hit a new record high, according to the latest data from the Investment Company Institute. The funds, which still have yields above 5%, saw total assets hit $6.06 trillion for the week ended Feb. 28, the firm said . While some on Wall Street think some of the cash in money markets will move into stocks, Crane has said there is no correlation between the two. Instead, money markets are competing with bank deposits, he believes. The annualized seven-day yield on the Crane 100 list of the 100 largest taxable money funds is currently 5.14%.
Persons: Peter Crane, January's, Moody's, Crane, Teresa Ho Organizations: Investment Company Institute, New York Community Bancorp, Crane, New, New York Community, Fitch, JPMorgan, CNBC Locations: New, New York
Goldman Sachs lowered its rating on Estée Lauder to neutral, and its new price target calls for a slight decline going forward. Elsewhere, Daiwa raised its price target on Nvidia, which points to more than 10% upside over the next 12 months. The firm stood by its outperform rating on the chipmaker stock, but lifted its price target to $900 from $535. FLYW YTD mountain FLYW in 2024 Faucette accompanied his downgrade by lifting his price target to $30 from $27. He also lifted his price target on the stock to $40 from $30, implying upside of 24.6% from Thursday's close.
Persons: Goldman Sachs, Estée Lauder, Jefferies, Root, Daiwa, Brad Sills, Sills, — Lisa Kailai Han, Stephens, Vita Coco, Coco, Jim Salera, COCO, Lisa Gill, Gill, Louis Miscioscia, Miscioscia, Lisa Kailai Han, Piper Sandler downgrades, Piper Sandler, Mark Fitzgibbon, Fitzgibbon, Morgan Stanley downgrades Flywire, Morgan Stanley, James Faucette, Faucette, Goldman Sachs downgrades Estée Lauder, Lauder, Goldman, Yaron Kinar, Kinar, Fred Imbert Organizations: CNBC, Nvidia, Bank of America, of America, Vertex, Accenture, RSM, BDO, JPMorgan, Daiwa, Markets, Riding, AMD, Intel, York Community Bancorp, York Community, New York Community Bancorp, Travel, B2B, U.S, Jefferies Locations: York, Canada, Asia, China, Hainan, Thursday's
AdvertisementThe Federal Reserve is worried about expensive stocks and homes, sinking office prices, shaky banks, and cash-strapped consumers. The S&P 500 soared to record highs this year as investors bet that the Fed will conquer inflation and start cutting rates within months, pushing stocks higher and staving off a recession. Fed economists said during their latest meeting that the value of multi-family homes, offices, and other commercial real estate could decline further. AdvertisementThe commercial real estate sector certainly faces a raft of headwinds. But its experts are clearly concerned about lofty stocks and home values, further commercial real estate fallout, vulnerable banks, and struggling consumers as potential threats to a soft landing.
Persons: They've Organizations: New, New York Community, Silicon Valley Bank Locations: New York, Silicon
Jefferies initiates Sprout Social as buy Jefferies said the social media software provider is a market leader. Morgan Stanley names Huntington Bancshares a top pick Morgan Stanley said it likes the regional bank's low exposure to commercial real estate. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley raised its price target on Nvidia to $750 per share from $603. Morgan Stanley downgrades Aptiv to underweight from equal weight Morgan Stanley said it sees slowing growth for the automotic tech company. Jefferies initiates ZoomInfo as buy Jefferies initiates the software data company with a buy and says it sees new customer growth.
Persons: Redburn, Key, it's, Gordon, Gordon Haskett, Jefferies, Steven Madden, Morgan Stanley, Huntington, Morgan Stanley downgrades Aptiv, Piper Sandler, Piper, Davidson, Goldman Sachs, Goldman, DA Davidson, it's bullish, Oppenheimer Organizations: Services, Bank of America, Google, Leerink, SPT, Citi, JPMorgan downgrades New York Community Bancorp, JPMorgan, Jefferies, Nvidia, Crown Holdings, Holdings, Civitas Resources, Corp, Vans, VF Corp, Bank of America downgrades, York Community Bancorp, New, Apple, Apple's Locations: F24E, New York
The "zombie economy" is haunting the stock market and stoking uncertainty, Canaccord Genuity's chief market strategist told Bloomberg. AdvertisementThe stock market has been jittery lately. One strategist says they've created a "zombie economy" that's contributed to volatility as interest rates have risen. "We kind of still have the zombie economy," Tony Dwyer, the chief market strategist at Canaccord Genuity, told Bloomberg on Wednesday. It's that uncertainty that is bleeding into the stock market.
Persons: Canaccord, , they've, that's, Tony Dwyer, Genuity, It's, That's, Dwyer, haven't, Jerome Powell Organizations: Bloomberg, Service Locations: New York
The implosion of New York Community Bancorp highlights an unusual risk for banks: growing too fast. New York Community Bancorp's 64% stock crash was in part caused by the increased regulatory scrutiny it received after crossing $100 billion in assets. But it can be a completely different story in the banking sector, and New York Community Bancorp is the latest example. Since then, New York Community Bancorp stock has crashed 64% and reignited fears of another regional banking crisis. "The case underpins a core principle of banking that may seem counterintuitive beyond: In banking, growth is … not good," Rubinstein said.
Persons: Marc Rubinstein, SVBFG, Thomas Cangemi, Rubinstein Organizations: York Community Bancorp, New, New York Community, New York Community Bancorp, Signature Bank, Valley Bank, Foreign Banking Organization, Bank, York Community, Bloomberg, Wall Locations: New York, New, America
U.S. regional banking shares tumble for second straight day
  + stars: | 2024-02-01 | by ( ) www.cnbc.com   time to read: +2 min
The KBW Regional Banking Index slipped 4.8% after seeing its biggest single-day decline since the collapse of Signature Bank in March last year. NYCB shares lost another 13.4% of their value and were last trading at $5.60. The frenzied selling in banking shares has rekindled fears about regional lenders, even as many analysts and investors said the problems at NYCB were mostly unique. Western Alliance Bancorp's shares fell nearly 11%, while those of Valley National Bancorp dropped 8.8%. Comerica's shares fell 5.8%.
Persons: NYCB, Martin Rauchenwald, Arthur D, Steven Alexopoulos, Alexopoulos, Moody's, Western Alliance Bancorp's Organizations: New York Community Bank, U.S, New York Community Bancorp, Signature Bank, Flagstar Bank, Jefferies, Western Alliance, National Bancorp Locations: Yonkers , New York, U.S, NYCB
Morgan Stanley raised its price target on General Motors. 6:56 a.m.: Morgan Stanley calls Bloom Energy a 'secular winner' Morgan Stanley reiterated its overweight rating on Bloom Energy , naming it an underappreciated AI beneficiary. The firm also maintained its $22 price target on shares, which suggests shares surging more than 94% from where they closed on Wednesday. — Hakyung Kim 6:14 a.m.: Morgan Stanley steps to the sidelines on ZoomInfo ZoomInfo Technologies is "unlikely to zoom into a recovery," according to Morgan Stanley. — Hakyung Kim 5:40 a.m.: Morgan Stanley raises GM price target A focus shift back to internal combustion engine vehicles can give General Motors another jolt higher, according to Morgan Stanley.
Persons: Morgan Stanley, Andrew Percoco, — Hakyung Kim, Antonio Reale, Reale, Hakyung Kim, Elizabeth Porter, Porter, Richard Choe, Choe, Jefferies, NYCB, Jon Arfstrom, Arfstrom, Christopher Danely, Danely, Bank of America's Tal Liani, Liani, Samik Chatterjee, Chatterjee, Adam Jonas, Jonas, — Fred Imbert Organizations: CNBC, General Motors, Qualcomm, Citi, Bloom, Bloom Energy, Bank of America, Santander Santander, Santander, ZoomInfo, JPMorgan, T, RBC, New York, Bancorp New, Bancorp New York Community, Bank, NYCB, Citi Citi, chipmaker Qualcomm, Samsung, Bank of America's, GM Locations: Spanish, Spain, Santander, Europe, U.S, Wednesday's, Bancorp New York
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLending issues are 'slow but there' and starting to 'ripen', says Raging Capital's Bill MartinBill Martin, Raging Capital, joins 'Fast Money' to talk New York Community Bancorp's disaster quarter and stock reaction.
Persons: Bill Martin Bill Martin Organizations: Raging, New York
The firm named the stock a top pick for 2024 and reiterated an overweight rating alongside a $105 per share price target. The firm downgraded the health insurance stock to neutral from buy, and lowered its price target to $370 per share from $530. Sur reiterated an underweight rating on Intel stock alongside a $37 per share price target, or more than 25% downside moving forward. Deutsche Bank's Ross Seymour reiterated a hold rating on the stock as well as a $42 per share price target, implying about 15% downside. Analysts Benjamin Black upgraded the Snapchat parent company to buy from hold and raised his price target to $19 from $10.
Persons: Oppenheimer, Wells, Timur Braziler, — Brian Evans, AJ Rice, Brian Evans, Piper Sandler downgrades, Bancorp Piper Sandler, Piper Sandler's, Scott Siefers, Harlan Sur, Sur, America's Vivek Arya, Arya, Deutsche Bank's Ross Seymour, Seymour, Owen Lau, Lau, Coinbase, Analysts Benjamin Black, Black, Fred Imbert Organizations: CNBC, Deutsche Bank, UBS downgrades Humana, UBS, Humana, Piper Sandler downgrades U.S, Bancorp, U.S . Bancorp, Intel, . Bank, America's, GM, Deutsche, U.S . Securities, Exchange Commission, Analysts Locations: Wells Fargo, Puerto Rican, ., Coinbase, Thursday's, China
OFG Bancorp rises on earnings beat
  + stars: | 2024-01-24 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOFG Bancorp rises on earnings beatJose Rafael Fernandez, OFG Bancorp vice chair and CEO, joins 'The Exchange' to discuss OFG Bancorp's stock, Puerto Rico's economic recovery, and more.
Persons: Jose Rafael Fernandez Organizations: OFG Bancorp
Cramer's Lightning Round: 'Too much hype' for C3.ai
  + stars: | 2023-11-14 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
Stock Chart Icon Stock chart icon HubSpot's year-to-date stock performance. Stock Chart Icon Stock chart icon Albemarle's year-to-date stock performance. Stock Chart Icon Stock chart icon Chewy's year-to-date stock performance. Stock Chart Icon Stock chart icon Leonardo DRS's year-to-date stock performance. Stock Chart Icon Stock chart icon CrowdStrike's year-to-date stock performance.
Persons: it's, Leonardo DRS's, Leonardo DRS, Brown, Forman, I've, They're, I'm, they're, Tom Siebel, George Kurtz Organizations: New York Community, New York Community Bancorp, Therapeutics, Sarepta Therapeutics, US Bancorp
Cramer's Lightning Round: Sell Seagen
  + stars: | 2023-11-03 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon TKO Group's year-to-date stock performance. Stock Chart Icon Stock chart icon DocuSign's year-to-date stock performance. Stock Chart Icon Stock chart icon U.S. Bancorp's year-to-date stock performance. Stock Chart Icon Stock chart icon Seagen's year-to-date stock performance. Stock Chart Icon Stock chart icon First Solar's year-to-date stock performance.
Persons: I've, I'm, you've Organizations: U.S . Bancorp, Gas, National Fuel Gas, Fuel Gas
REUTERS/Brendan McDermid Acquire Licensing RightsNEW YORK, Oct 18 (Reuters) - Several U.S. regional banks beat analysts third-quarter profit expectations on Wednesday as higher interest rates allowed them to charge more for loans, although rising loan loss provisions and deposit retention costs crimped margins. Shares of several regional banks fell, including M&T Bank and US Bancorp. Regional banks remain a focus of investor scrutiny. The KBW regional banking index (.KRX) is down nearly 24% year-to-date, while the S&P regional bank (.SPCOMBNKS) has also dropped 33% in the same period. Citizens Financial Group (CFG.N) and First Horizon Corp (FHN.N) both reported a decline in their third quarter profit weighed down by rising credit loss provisions and deposit costs.
Persons: Brendan McDermid, Chris Marinac, Janney Montgomery Scott, Marinac, Citizen Financial's, Chibuike Oguh, Michelle Price, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, U.S, T Bank, US Bancorp, T Bank Corp, Wall, Bank, Citizens Financial, Horizon Corp, Citizens, Citizen, Thomson Locations: New York, U.S, Silicon
Cramer's Lightning Round: Veeva is a buy
  + stars: | 2023-10-09 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Veeva's year-to-date stock performance. Stock Chart Icon Stock chart icon US Bancorp's year-to-date stock performance. Stock Chart Icon Stock chart icon Marvell's year-to-date stock performance. Stock Chart Icon Stock chart icon Snowflake's year-to-date stock performance. Stock Chart Icon Stock chart icon Teekay's year-to-date stock performance.
Persons: they'll, Stock's, Frank Slootman's, Gray, I'm, that's Organizations: US Bancorp, American Electric, Marvell, Gray Television
Cramer's Lightning Round: Stay away from PacWest Bancorp
  + stars: | 2023-10-02 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Energy Transfer's year-to-date stock performance. Stock Chart Icon Stock chart icon Perrigo's year-to-date stock performance. Stock Chart Icon Stock chart icon Robinhood's year-to-date stock performance. Stock Chart Icon Stock chart icon Palantir's year-to-date stock performance. Stock Chart Icon Stock chart icon PacWest Bancorp's year-to-date stock performance.
Persons: PacWest, Kratos, Jim Cramer's Organizations: Energy, Costco
Supreme Court ethics concerns aren't going away
  + stars: | 2023-09-27 | by ( Andrew Chung | ) www.reuters.com   time to read: +5 min
The ethics concerns are not going away, according to legal experts, even as the court in its new term takes up cases that could further expand gun rights and curtail the regulatory authority of federal agencies. Some conservatives view the ethics narrative involving the court as cooked up by liberals upset at its rightward leanings. Supreme Court justices decide for themselves whether to disqualify themselves from cases due to a conflict of interest. Thomas, Alito and lawyers involved in the two cases did not respond to requests for comment. The lack of an ethics code, Fogel added, "will continue to fuel doubts, fairly or unfairly, about the court's integrity."
Persons: Clarence Thomas, Samuel Alito, Jeremy Fogel, drumbeat, John Malcolm, Malcolm, Thomas, Harlan Crow, ProPublica, Koch, Alito, Paul Singer, Singer's, Neil Gorsuch, Sonia Sotomayor, Geoffrey Stone, Fogel, Andrew Chung, John Kruzel, Will Dunham 私 たち Organizations: U.S, Supreme, hobnobbing, Judicial, University of California, Berkeley School of Law, Reuters, Heritage Foundation, Singer, Singer's Elliott Investment Management, Windstream, University of Chicago Law Locations: U.S, Texas, Alaska, Chicago, New York, Washington
Cramer's Lightning Round: Stay away from JetBlue
  + stars: | 2023-08-07 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Vici Properties' year-to-date stock performance. Stock Chart Icon Stock chart icon Draftkings' year-to-date stock performance. Draftkings : "[Buy, buy, buy!] Stock Chart Icon Stock chart icon JetBlue's year-to-date stock portfolio. Stock Chart Icon Stock chart icon Cava's year-to-date stock portfolio.
Persons: Draftkings, They've, they've, Electric's, Archer Aviation's, Cava Organizations: New York Community, New York Community Bancorp, General, JetBlue
Cramer's Lightning Round: Verizon is 'going nowhere'
  + stars: | 2023-08-01 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Verizon's year-to-date stock performance. Stock Chart Icon Stock chart icon Pacwest Bancorp's year-to-date stock performance. Stock Chart Icon Stock chart icon U-Haul's year-to-date stock performance. Stock Chart Icon Stock chart icon BP's year-to-date stock performance. Stock Chart Icon Stock chart icon Evolv's year-to-date stock performance.
Persons: Pacwest, it's, You've Organizations: Verizon, Pacwest Bancorp
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