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☆ These 3 bank stocks are Wall Street's favorites heading into earnings reports for the industry
▼ + stars: | 2023-10-12 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Banks have suffered as interest rates linger at higher levels for longer, making the cost of borrowing money more expensive. Investors such as Neuberger Berman's Steve Eisman aren't optimistic about the sector either heading into earnings season due to higher capital requirements . Earnings per share have been growing at least 5% on average a year for the past three years, showing earnings consistency. Average analyst consensus forecasts call for nearly 13% upside from Wednesday's $122.74 close. JPMorgan also made the list, with the average analyst price target calling for close to 16% upside.

Persons: Banks, Neuberger, Steve Eisman, KeyCorp, Piper Sandler, Ebrahim Poonawala Organizations: CNBC Pro, PNC, Bank of America, JPMorgan Locations: Cleveland, Pittsburgh

☆ Lightning Round: First Solar is doing well and is a strong buy
▼ + stars: | 2023-10-11 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: First Solar is doing well and is a strong buy'Mad Money' host Jim Cramer weighs in on stocks including: SolarEdge Tech, Plug Power, Brookfield Infra, Tyson Foods, Keycorp and Monster Beverage.

Persons: Jim Cramer Organizations: SolarEdge, Brookfield, Tyson Foods, Monster Beverage

☆ Cramer's Lightning Round: 'Can't be a fan' of Plug Power
▼ + stars: | 2023-10-11 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon SolarEdge's year-to-date stock performance. Stock Chart Icon Stock chart icon Plug Power's year-to-date stock performance. Stock Chart Icon Stock chart icon Brookfield Infrastructure Partners' year-to-date stock performance. Stock Chart Icon Stock chart icon KeyCorp's year-to-date stock performance. Stock Chart Icon Stock chart icon Monster's year-to-date stock performance.

Persons: they'd Organizations: Brookfield Infrastructure Partners

☆ Rising interest rates are hurting very broad swaths of the stock and bond markets
▼ + stars: | 2023-10-03 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Dozens of stocks and ETFs are hitting 52-week lows on the relentless rise in interest rates. Treasury bond ETFs: New lows iShares 1-3 Year Treasury Bond ETF (SHY) iShares 7-10 Year Treasury Bond ETF (IEF) iShares 10-20 Year Treasury Bond ETF (TLH) iShares 20+ Year Treasury Bond ETF (TLT) It's not just Treasury bonds. Broad bond ETFs: New lows Vanguard Total Bond Market ETF (BND) iShares Core US Aggregate Bond Fund (AGG) Higher rates are affecting other areas of the U.S. economy: look at clean energy and biotech It's simple. Clean energy ETFs: New lows iShares Global Clean Energy (ICLN) VanEck Low Carbon Energy ETF (SMOG) Invesco WilderHill Clean Energy ETF (PBW) Invesco Solar ETF (TAN) It's the same story with biotech. The SPDR S & P Biotech ETF (XBI) , which tracks an equal-weighted index of US biotechnology stocks, is at a 52-week low.

Persons: Schwab, It's Organizations: Vanguard Utilities, Treasury Bond ETF, Bond Market, Bond Fund, NextEra Energy Partners, Clean Energy, Carbon Energy, P Biotech, Biotechnology, Biotech, Verizon, SPDR Telecom, AT, Property, Comerica, Huntington Bancshares Locations: U.S, Orsted, Denmark, REITs

☆ Here are Friday's biggest analyst calls: Apple, GM, Amazon, Zoom, Arm, Rivian, Ford, Deere & more
▼ + stars: | 2023-09-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

HSBC initiates Zoom as buy HSBC said Zoom is the leader in video conferencing. HSBC initiates Deere as buy HSBC said in its initiation of Deere that it sees "upside in the cycle." HSBC initiates Salesforce as buy HSBC said in its initiation of the stock that it's a "margin expansion story." HSBC initiates Snowflake as buy HSBC said Snowflake is well positioned for AI. HSBC initiates Oracle a buy HSBC said in its initiation of Oracle it likes the company's cloud platform.

Persons: Morgan Stanley, Rivian, it's, TD Cowen, Needham, Piper Sandler, Piper, KEY's, Lauder, Redburn, Wolfe, Goldman Sachs, Goldman, Casella, Zoom, Snowflake, Northcoast, Apple, Salesforce, Ford Organizations: Bank of America, underperform Bank of America, HSBC, Anheuser, Busch InBev, UBS, WWE, UFC, Systems, Moffett, Deere, Oracle, of America, Amazon, Apple, Lenovo, Adobe, General Motors, Ford, GM, UAW Locations: Americas, 2H23, North America, U.S, China

☆ Stocks making the biggest moves premarket: Arm Holdings, GM, Ford, Adobe and more
▼ + stars: | 2023-09-15 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

General Motors assembly workers picket outside the General Motors Bowling Green plant during the United Auto Workers national strike in Bowling Green, Kentucky, October 10, 2019. Apellis Pharmaceuticals — The biopharmaceutical company climbed 3.5% before the open after Wells Fargo upgraded to overweight from equal weight. General Motors , Ford , Stellantis — GM and Ford fell less than 1% and Stellantis rose less than 1% after the United Auto Workers went on strike Thursday night. DoorDash — Shares of the food delivery company slid almost 3% premarket after MoffettNathanson downgraded DoorDash to market perform from outperform. Adobe — Shares fell 3.4% on the back of the company's fiscal third-quarter earnings report Thursday.

Persons: —, Piper Sandler, Piper, Morgan Stanley, Wells, Apellis, Stellantis, MoffettNathanson, Needham, Goldman Sachs, — CNBC's Brian Evans, Michelle Fox, Alex Harring, Hakyung Kim, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: Motors, General Motors, United Auto Workers national, Pharmaceuticals, Ford, United Auto Workers, Unity, Bank of America, Arm, Nasdaq, JPMorgan, LSEG Locations: Bowling Green , Kentucky, — The Cleveland, DoorDash, British

☆ Bank stocks have come to life recently. But Jim Cramer explains why the rally may not last
▼ + stars: | 2023-09-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +1 min

KeyCorp (KEY) reiterated its financials Tuesday, sending its shares higher — a rally that's been seen in the wider financial sector recently. The stock, however, edged lower after Wednesday's open on Wall Street. That's because, according to Jim Cramer, investors are focusing their attention on big banks, rather than smaller regionals. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. "There's a big split right between investment banks, big money centers and the regionals," Cramer said, cautioning that the recent banking sector rally may not be sustainable.

Persons: Jim Cramer, Jim Cramer's, Cramer, Wells Fargo, Morgan Stanley Organizations: Cramer's Charitable Trust, CNBC, Silicon Valley Bank Locations: Wells, Cramer's, Silicon

☆ KeyCorp CEO Chris Gorman: We have a variety of ways to generate capital organically
▼ + stars: | 2023-09-11 | 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 EmailKeyCorp CEO Chris Gorman: We have a variety of ways to generate capital organicallyKeyCorp CEO Chris Gorman joins 'Squawk on the Street' to discuss the future of regional banks and more.

Persons: Chris Gorman

☆ S&P downgrades multiple US banks citing 'tough' operating conditions
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

S&P downgraded the ratings of Associated Banc-Corp (ASB.N) and Valley National Bancorp (VLY.O) on funding risks and a higher reliance on brokered deposits. It also downgraded UMB Financial Corp (UMBF.O), Comerica Bank (CMA.N) and Keycorp (KEY.N), citing large deposit outflows and prevailing higher interest rates. A sharp rise in interest rates is weighing on many U.S. banks' funding and liquidity, S&P said in a summarized note, adding that deposits held by Federal Deposit Insurance Corp (FDIC)-insured banks will continue to decline as long as the Federal Reserve is "quantitatively tightening." The rating agency also downgraded the outlook of S&T Bank and River City Bank to negative from stable on high commercial real estate (CRE) exposure among other factors. Reporting by Gokul Pisharody in Bengaluru; Additional reporting by Akanksha Khushi; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Moody's, Bank of New York Mellon BK.N, Gokul, Akanksha Khushi, Varun Organizations: Global, National Bancorp, UMB Financial Corp, Comerica Bank, Federal Deposit Insurance Corp, Federal, T Bank, City Bank, Bank of New York Mellon, US Bancorp, Truist, Silicon Valley Bank, Signature Bank, Thomson Locations: New York City, U.S, Silicon, Bengaluru

☆ S&P downgrades multiple U.S. banks citing 'tough' operating conditions
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: +1 min

S&P Global on Monday cut credit ratings and revised its outlook for multiple U.S. banks, following a similar move by Moody's, warning that funding risks and weaker profitability will likely test the sector's credit strength. S&P downgraded the ratings of Associated Banc-Corp and Valley National Bancorp on funding risks and a higher reliance on brokered deposits. It also downgraded UMB Financial Corp , Comerica Bank and Keycorp , citing large deposit outflows and prevailing higher interest rates. A sharp rise in interest rates is weighing on many U.S. banks' funding and liquidity, S&P said in a summarized note, adding that deposits held by Federal Deposit Insurance Corp-insured banks will continue to decline as long as the Federal Reserve is "quantitatively tightening." The rating agency also downgraded the outlook of S&T Bank and River City Bank to negative from stable on high commercial real estate exposure among other factors.

Persons: Moody's Organizations: Global, Corp, National Bancorp, UMB Financial Corp, Comerica Bank, Keycorp, Federal Deposit Insurance Corp, Federal, T Bank, City Bank, Bank of New York Mellon, US Bancorp, Truist, Silicon Valley Bank, Signature Bank Locations: Silicon, U.S

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. The yield on the 10-year Treasury note scaled over 15-year highs after a brief pullback, dragging equities lower. Wall Street had regained some ground on Monday due to a rally in Nvidia and other tech stocks. Shares of Nvidia (NVDA.O) hit an all-time high of $481.87 soon after markets opened but were last down 1.5%. The S&P index recorded one new 52-week highs and 8 new lows, while the Nasdaq recorded 23 new highs and 76 new lows.

Persons: Carlo Allegri, Phil Blancato, Ladenburg, Robert Pavlik, Jerome Powell, Cos, Amruta Khandekar, Shinjini Organizations: New York Stock Exchange, REUTERS, Nvidia, KeyCorp, Comerica, Dow, Nasdaq, Treasury, Asset Management, Federal, Dakota Wealth, Microsoft, Reuters Graphics, Traders, Dow Jones, Nike, Sporting, Activision, Ubisoft Entertainment, NYSE, Thomson Locations: New York, U.S, Fairfield, Jackson

☆ Will Chinese deflation help cure the West’s inflation problem?
▼ + stars: | 2023-08-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The Chinese economy has hit a rough patch. What’s happening: Chinese consumer spending, factory production and investments in long-term assets like property or machinery all slumped last month. On Monday, the Chinese government surprised investors by deciding not to cut an important interest rate that influences mortgages. The beauty company is “mindful of the headwinds that have emerged in China’s economy,” said the report. And even still, many regional banks have struggled to prevent deposit outflows.

Persons: ”, Jason Pride, Michael Reynolds, Lisa Shalett, Edward Moya, Estee Lauder, Moya, “, Elisabeth Buchwald, Moody’s, ‘ Barbie ’, “ Barbie ”, Jordan Valinsky, Greta Gerwig, “ Oppenheimer, “ Barbie Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Morgan Stanley Wealth Management, European, Apple, Intel, Ford, Starbucks, Nike, Saudi, Comerica Inc, National Bancorp, UMB Financial Corp, Bank of New York Mellon, State, Northern Trust, & $ Locations: New York, China, Europe, Beijing, Asia, Russia, Saudi Arabia, Silicon

☆ CNBC Daily Open: Rising yields couldn’t stifle excitement over Nvidia
▼ + stars: | 2023-08-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Tech rallied amid rising yieldsThe Nasdaq Composite rallied Monday, breaking a four-day losing streak, even as the 10-year U.S. Treasury yield hit 4.342%, a decades-long high. The index was lifted by SoftBank shares rising 1.57% on the news that its chip unit Arm has filed for a Nasdaq listing. "What seems to be clear is that food price volatility will continue in coming months," an analyst said.

Persons: Softbank Organizations: CNBC, Tech, Nasdaq, Treasury, Nikkei, P Global, Corp, National Bancorp, UMB Financial Corp, Comerica Bank, Keycorp, UBS Locations: Asia, Pacific, Asia Rice, India, Swiss

☆ S&P downgrades five US banks following Moody’s lead
▼ + stars: | 2023-08-21 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +1 min

New York CNN —S&P Global Ratings downgraded five regional US banks by one notch and signaled a negative outlook for several others on Monday. Following the banking turmoil earlier this year that began with Silicon Valley Bank’s collapse, many regional banks have had to pay higher interest rates on deposits to keep customers from pulling their funds. And even still, many regional banks have struggled to prevent deposit outflows. Overall, 90% of the banks S&P rates have stable outlooks. The remaining 10% have negative outlooks and none have positive outlooks, S&P said Monday.

Persons: New York CNN —, Moody’s Organizations: New, New York CNN, Comerica Inc, National Bancorp, UMB Financial Corp, Bank of New York Mellon, State, Northern Trust, & $ Locations: New York, Silicon

☆ U.S. bank stocks fall on Fitch downgrade warning, tougher oversight worries
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

A person waits on the Wall Street subway platform in the Financial District of Manhattan, New York City, U.S., August 20, 2021. The warning followed rival Moody's downgrading 10 mid-sized lenders earlier this month, citing funding risks and weaker profitability. Among the mid-sized lenders, Western Alliance Bancorp (WAL.N) and PacWest Bancorp (PACW.O) fell 8.4% and 1.6%, respectively. The S&P 500 banks index (.SPXBK) was down 2.1%, hitting its lowest in a month. Separately, Discover Financial Services (DFS.N) shares fell 8.3% to $94.10, a day after its CEO stepped down.

Persons: Andrew Kelly, Banks, Wells, JPMorgan Chase, Goldman, Morgan Stanley, MS.N, Michael Burry's, Niket, Arun Koyyur Organizations: Financial, of, REUTERS, CNBC, Federal Deposit Insurance Corp, Bank of America, JPMorgan, Goldman Sachs, Citigroup, Western Alliance Bancorp, PacWest Bancorp, Michael Burry's Scion Asset Management, Comerica, Discover Financial Services, Thomson Locations: of Manhattan , New York City, U.S, Bengaluru

☆ Stock Market Today: Dow, Nasdaq Close Lower; Big Bank Stocks Slide
▼ + stars: | 2023-08-08 | by ( ) www.wsj.com time to read: +2 min

A broad sell off in regional bank shares—including KeyCorp and Comerica—made financial stocks among the worst performers in the S&P 500. ET:Stock indexes fell. The S&P 500 and Dow industrials pared some of their losses from earlier in the day, but still ended down. Eli Lilly led the S&P 500 higher. Bank shares were among the biggest losers, with UniCredit and other Italian banks sinking after Rome said it plans a windfall tax.

Persons: Dow industrials, Eli Lilly, Wall Organizations: KeyCorp, Comerica, Bank of America, JPMorgan Chase, Citigroup, United Parcel Service, Dow, Nasdaq, Treasury, Shanghai, Nikkei, Bank Locations: Government, Europe, Rome

☆ How you could be impacted by higher bank capital requirements
▼ + stars: | 2023-07-27 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

Their risk-level assessments have been the basis for informing how much capital they need to hold on top of baseline requirements. Silicon Valley Bank accumulated a lot of paper losses, or unrealized losses, from holding bonds while the Fed hiked interest rates. But it did not need to hold capital to protect depositors from those losses. Some also expressed concerns that banks would pass on their higher capital costs to consumers in the form of higher fees to maintain their profit levels. However, UBS, Citizens Bank and Capital One will have to hold more capital.

Persons: wouldn’t, ”, Banks, aren’t, Steven Kelly, won’t, SVB, Jonathan McKernan, Michelle Bowman, Kelly, ” Kelly, JPMorgan Chase, Morgan Stanley Organizations: New, New York CNN, Federal Reserve, Federal Deposit Insurance Corporation, Huntington Bank, Silicon Valley Bank, Signature Bank, Valley Bank, FDIC, ”, Manufacturers, JPMorgan, JPMorgan Chase, Bank of America, UBS, Citizens Bank, Capital, Nasdaq Locations: New York, Basel, Banc, California, Silicon

☆ US commercial property delinquencies rise further in July -report
▼ + stars: | 2023-07-26 | by ( Matt Tracy | ) www.reuters.com time to read: +2 min

The rise in the rate reflects continued stress in the U.S. commercial real estate sector as a post-pandemic environment had more people working from home or shopping online. Office loans made up roughly 35% of the newly special serviced and delinquent loans in July rated by KBRA at $898.4 million. So far in July, multiple office properties have been transferred to special servicing due to imminent monetary default. The total special servicing balance on multi-loan CMBS sharply increased $830.7 million to $14 billion, the largest rise since August 2020, the report said. KeyBank's subsidiary KeyBank Real Estate Capital handles commercial real estate lending and servicing.

Persons: Amr Alfiky, KBRA, Chris Gorman, KeyCorp, Matt Tracy, Shankar Ramakrishnan, Jamie Freed Organizations: REUTERS, KBRA, Estate Capital, Thomson Locations: New York City, U.S

☆ Regional bank yields have fallen but plenty are still paying more than 4%
▼ + stars: | 2023-07-21 | by ( Scott Schnipper | ) www.cnbc.com time to read: +3 min

Western Alliance Bancorporation of Phoenix left its dividend unchanged at 36 cents a share in May and yields 3%. As of Friday, the bank's common stock still yields 7.1%, albeit down from 8.5% as recently as May. Comerica Bank in Dallas pays a dividend equivalent to a 5.5% yield, down from 7.9% in May. The banks' yields have fallen as the stocks have recovered some of their losses from earlier in the year. To judge the safety of bank dividends, take a look at their dividend payout ratios , which measure the percentage of earnings paid out in dividends.

Persons: Janney Montgomery Scott, Janney, Daniel Cardenas, — CNBC's Michael Bloom Organizations: PacWest Bancorp, Western Alliance, Truist Financial Corp, Rhode, Financial, Valley Bank, First Republic Bank, Comerica Bank, Heritage Commerce, Northrim BanCorp, Financial of, National Bancorp of Locations: Phoenix, Charlotte , North Carolina, Cleveland, Dallas, 2H23, Los Angeles, San Jose , California, Alaska, Financial of Ohio, National Bancorp of New Jersey

☆ Bank stocks volatile on mixed results, Discover sinks amid regulatory review
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +3 min

July 20 (Reuters) - Bank stocks were volatile in premarket trading on Thursday as lenders reported mixed quarterly results, while shares of Discover Financial Services (DFS.N) tanked after it disclosed a regulatory review over some of its credit products. Meanwhile, two major mid-sized banks missed quarterly profit estimates, while one came ahead of Wall Street expectations on Thursday. KeyCorp (KEY.N) shares dropped 2.7% after the bank's profit plunged 50% and it forecast a decline in net interest income. They fell 5.7% in the second quarter compared with a year earlier. Outperforming peers, Fifth Third Bancorp's (FITB.O) shares rose 1.9% premarket as the bank's quarterly profit topped expectations, even as it trimmed its growth forecast for full-year NII.

Persons: Zions, Manya Saini, Jaiveer Shekhawat, Sri Hari, Shweta Agarwal, Krishna Chandra Organizations: Bank, Discover Financial Services, Discover, Federal Deposit Insurance Corporation, Truist, Major, Thomson Locations: Truist, Major U.S, Bengaluru

☆ Lightning Round: It's time to buy KeyCorp, says Jim Cramer
▼ + stars: | 2023-07-20 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: It's time to buy KeyCorp, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Illumina, Compass Pathways, KeyCorp, Eaton, Verve Theraputics, Informatica and ASML.

Persons: Jim Cramer, Eaton Organizations: Verve Locations: Informatica, ASML

☆ KeyCorp second-quarter profit halves on higher loan loss provisions
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +1 min

July 20 (Reuters) - KeyCorp (KEY.N) reported on Thursday a bigger-than-expected 50% fall in quarterly profit, as it set aside more rainy day funds amid growing economic uncertainties. Shares of the company fell nearly 3% in premarket trading. The lender's provisions for credit losses jumped by 271% to $167 million at the quarter end, compared with $45 million in a year-ago quarter. Banks have started to raise their provisions for loan losses as high borrowing costs threaten to cripple the banking sector from the risk of defaults. The company's net interest income fell nearly 11% to $986 million for the quarter ended June 30, compared with $1.1 billion, a year earlier.

Persons: Banks, Jaiveer Singh, Shweta Agarwal Organizations: Thomson Locations: Bengaluru

☆ Morning Bid: Tesla, Netflix underwhelm
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +4 min

[1/2] A Tesla logo is seen outside a showroom of the carmaker in Beijing, China May 31, 2023. REUTERS/Thomas Peter/File PhotoA look at the day ahead in U.S. and global markets from Mike DolanAn overdue cold shower? July 20 (Reuters) - The first of the supercharged Big Tech firms to report in this earnings season - Tesla and Netflix - seemed to underwhelm markets overnight, cutting across the enthusiastic reception for big banks and knocking back bulled-up Wall St from 2023 highs. Although electric car giant Tesla (TSLA.O) comfortably beat second quarter profit forecasts, markets seized on plans for continued price discounting and squeezed margins as a reason to drag its shares down almost 4% in overnight trading. In the fixed income world, Treasury yields crept back higher ahead of next week's Federal Reserve meeting.

Persons: Thomas Peter, Mike Dolan, Dow Jones, McLennan, Philip Morris, WR, DR Horton, Janet Yellen, John Organizations: REUTERS, Big Tech, Netflix, Overseas, Citizens, US Bancorp, Energy, Healthcare, Abbott Laboratories, Johnson, Blackstone, Truist Financial, American Airlines, Marsh, WR Berkley, CSX, Philadelphia Federal Reserve, Treasury, Reuters Graphics Housing, Reuters Graphics Reuters, Thomson, Reuters Locations: Beijing, China, U.S, Russia, Britain, Newmont, Freeport, McMoRan, DR, Philadelphia, Turkey, South Africa, Vietnam

☆ Cramer's Lightning Round: KeyCorp is a buy
▼ + stars: | 2023-07-20 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Illumina's year-to-date stock portfolio. Stock Chart Icon Stock chart icon Compass Pathways' year-to-date stock performance. Stock Chart Icon Stock chart icon KeyCorp's year-to-date stock performance. Stock Chart Icon Stock chart icon Eaton's year-to-date stock performance. Stock Chart Icon Stock chart icon ASML Holding's year-to-date stock performance.

Persons: Eaton, you've, ASML Organizations: Verve Therapeutics, ASML, Taiwan Semi Locations: Informatica, Taiwan

☆ U.S regional bank shares rise on interest income, deposits stabilizing
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +3 min

July 19 (Reuters) - Three major U.S. regional banks met or beat profit expectations on Wednesday as higher interest rates allowed them to charge more for loans, while deposits stabilized, sending shares across the sector up. Investors have been anxiously awaiting regional bank second quarter earnings as they look for reassurance that the turmoil that rocked the sector earlier this year has finally passed. M&T Bank Corporation (MTB.N) and Citizens Financial Group (CFG.N) both beat Wall Street estimates from charging clients higher interest rates after the U.S. Federal Reserve raised borrowing costs to rein in stubborn inflation. The KBW Regional Bank Index (.KRX) and S&P regional bank index (.SPCOMBNKS) were each gaining nearly 2% in line with the broader market. M&T's deposits rose to $162.1 billion from $159.1 billion at the end of the first quarter, but fell about 4.9% year-on-year.

Persons: NII, Dennis Dick, Michelle Price, Manya Saini, Jaiveer Singh Shekhawat, Johann Cherian, Chibuike, Nick Zieminski Organizations: T Bank Corporation, Citizens Financial, Wall, U.S . Federal Reserve, Citizens, US Bancorp, Big, Regional, Zions Bancorp, Truist, Fifth Third Bancorp, Bank, Triple D, Thomson Locations: Big U.S, Silicon, Bengaluru, New York

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