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8 mentions found


☆ Trading Fed rate cuts: These banks are primed to outperform when rates fall, Evercore ISI says
  + stars: | 2024-08-24 | by ( Pia Singh | In | ) www.cnbc.com   time to read: +2 min
A few well-known regional banks are poised to benefit from the Federal Reserve's upcoming interest rate cuts, according to Evercore ISI. Fed Chair Jerome Powell indicated on Friday that the central bank is ready for interest rate cuts ahead , although he declined to provide the exact timing or extent of the cuts. As investors await the Fed's moves, Evercore ISI used its updated asset/liability committee scenarios and several banks' net interest income commentary to find which names appear strongest in a lower interest rate environment. According to the note, Comerica, U.S. Bancorp and Fifth Third each forecast two interest rate cuts this year. Comerica shares dipped more than 10% on July 19 after the company posted its second-quarter results.
Persons: Jerome Powell, John Pancari, Pancari, Curtis Farmer, Truist Organizations: Federal, ISI, Comerica, Truist Financial, U.S . Bancorp, Fifth Third Bancorp, FactSet Locations: U.S
☆ These stocks set to report earnings next week have a history of beating estimates
  + stars: | 2024-07-11 | by ( Alex Harring | ) www.cnbc.com   time to read: +3 min
As earnings season begins ramping up, there are some early reports to watch that have historically beaten expectations and rallied as a result. Earnings season kicks into higher gear next week, with major names including Goldman Sachs , United Airlines and Netflix on the docket. Bespoke Investment Group screened for stocks reporting next week that have beaten the Street's consensus earnings estimate at least 75% of the time. Entering this earnings season, JPMorgan Michael Rehaut named the stock one of his longs. But the average analyst, while having a buy rating, sees a correction of more than 2% coming over the next year.
Persons: Goldman Sachs, John Pancari, Pancari, Ally, LSEG, Horton, JPMorgan Michael Rehaut, Rehaut, D.R, David Roman Organizations: United Airlines, Netflix, Wall, Investment, JPMorgan
☆ CNBC Daily Open: Trading on fear, not fundamentals
  + stars: | 2023-05-05 | 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. Regional bank stocks continued tumbling Thursday; shares of PacWest and Western Alliance were halted more than once. At one point on Thursday, every stock in the KRE traded lower as investors sold off regional banks. Subscribe here to get this report sent directly to your inbox each morning before markets open.
☆ CNBC Daily Open: Fear, not fundamentals
  + stars: | 2023-05-05 | 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. Regional bank stocks continued tumbling Thursday; shares of PacWest and Western Alliance were halted more than once. At one point on Thursday, every stock in the KRE traded lower as investors sold off regional banks. Subscribe here to get this report sent directly to your inbox each morning before markets open.
☆ 'Self-fulfilling prophecy is a risk' in regional bank crisis, Evercore ISI says
  + stars: | 2023-05-03 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com   time to read: +2 min
Regional bank stocks have fallen sharply this week after the failure and sale of First Republic, with the SPDR S & P Regional Banking ETF (KRE) tumbling 8.9% in just two days, on Monday and Tuesday. KRE 5D mountain Regional bank stocks have fallen after First Republic's failure. But even if the immediate concerns have been put to rest, now the falling bank stocks could create a new round of issues, according to Evercore ISI. ... regional banks' troubles are earnings issues for most, rather than liquidity issues," Pancari said. He added that "select regionals appear oversold," highlighting Fifth Third Bancorp as one of Evercore ISI's favorite mid-sized banks.
☆ Wall Street analysts say $30 billion lifeline to First Republic should temper future bank runs, boost confidence in sector
  + stars: | 2023-03-17 | by ( Samantha Subin | ) www.cnbc.com   time to read: +2 min
The move by major banks on Thursday to extend a much needed lifeline to First Republic should help reignite confidence in the sector after a difficult week, Wall Street says. "We view the move by the industry as a positive step to stem contagion amid the regional bank crisis," wrote Evercore ISI's John Pancari in a Thursday note. "We believe the move sends a message of broader stability for the sector and should help further temper depositor fears," and enables the "bank to fight another day." First Republic shares have plummeted 58% this week, after the failure of Silicon Valley Bank triggered a massive selloff among regional bank stocks and panic deposit flight from customers. "It is also a sly vote of confidence in the contributing banks," he said.
☆ First Republic drops 70%, leads decline in bank stocks despite government's backstop of SVB
  + stars: | 2023-03-13 | by ( Jesse Pound John Melloy | Jesse Pound | John Melloy | ) www.cnbc.com   time to read: +3 min
A First Republic Bank branch in New York, US, on Friday, March 10, 2023. San Francisco's First Republic shares lost 70% in premarket trading Monday after declining 33% last week. First Republic Bank led a decline in bank shares Monday that came even after regulators' extraordinary actions Sunday evening to backstop all depositors in failed Silicon Valley Bank and Signature Bank and offer additional funding to other troubled institutions. The SPDR S&P Regional Banking ETF lost 4% in premarket trading Monday following a 16% decline last week. The slide for regional bank stocks on Monday comes after a rush of withdrawals from SVB Financial forced that bank to close.
☆ America’s biggest banks now pay attractive dividend yields, so long as they're safe
  + stars: | 2022-10-13 | by ( Scott Schnipper | ) www.cnbc.com   time to read: +2 min
Given the downdraft in bank stock prices this year, some of the biggest financial companies in the U.S. are all of the sudden offering sky high dividend yields. Those lofty payouts are attractive in absolute terms, and even when compared with prevailing Treasury yields. Even Wells Fargo yields about 2.5%, far above what banks pay on savings or checking accounts. Q3 bank earnings playbook All eyes turn to bank earnings for clues on slowing U.S. economy after Dimon's recession warning Treasury yields in some instances may be higher, but the "volatility of bank dividend yields have traditionally been far less than that of Treasuries," Evercore ISI wrote. As a result, today's above-average financial dividend yields "present an opportunity - particularly given banks' still-solid earnings power (despite eventual credit normalization), robust capital levels, and historical dividend progression," Evercore ISI said.
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