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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFifth Third Bank CEO: Our credit metrics have been very well-behaved as delinquencies declinedFifth Third Bank CEO Timothy Spence joins 'Squawk on the Street' to discuss the company's quarterly earnings results, the lower-than-expected credit provisions, and the risks Fifth Third is willing to take going forward.
Persons: delinquencies, Timothy Spence Organizations: Third Bank, Fifth Third Bank
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFifth Third Bank CEO expects core deposit balances to be stable through year endFifth Third Bank CEO Timothy Spence joins 'Squawk on the Street' to discuss what he sees ahead in the financial sector after a heavy regional banking sell-off.
The selloff in regional banks is overdone, with four names looking especially attractive at these levels, according to UBS. While bank stocks moved higher on Thursday, volatility has risen this week. Regional banks were particularly hard hit. Investors also need to remember that not all regional banks are equivalent, she added. "Thus, we believe that investors should not look at unrealized securities losses in a static manner," Najarian wrote.
The rout in regional banks has resulted in one of the best buying opportunities in "many years," according to Baird. KRE 5D mountain KRE's five-day performance Regional bank stocks nosedived after the failure of Silicon Valley Bank, even after U.S. regulators backstopped all depositors in the banks. George noted that while liquidity movement is generally hard to predict, the average retail or corporate customer of most regional banks is not at all similar to those at SVB. Among his coverage universe, he has overweight ratings on 11 regional bank stocks. But even after Moody's comments, bank stocks were still recovering some lost ground on Tuesday, including Fifth Third Bancorp shares, which rose nearly 3%.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI am exceptionally comfortable with the position we got, says Fifth Third Bank CEO Timothy SpenceTimothy Spence, Fifth Third Bank CEO, joins 'Squawk on the Street' to discuss his thoughts on fallout over the collapse of Silicon Valley Bank.
The dramatic drop in regional bank stocks is a key entry point for investors, according to analyst Christopher Marinac. The SPDR S&P Regional Banking ETF dropped by more than 12% on Monday after regulators shuttered Silicon Valley Bank and Signature Bank. When asked which regional banks look most attractive, Marinac recommends Fifth Third Bank . Marinac also named Truist as a top sector pick, saying the company has a competitive advantage among regional banks after selling a portion of its insurance unit. Truist stock has dropped 30% over the past five sessions.
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