DIRS.INFO The most relevant business & tech news

☆ Regional bank shares fall as Fed persists with rate hikes despite industry turmoil
▼ + stars: | 2023-03-22 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Regional bank stocks spiraled lower Wednesday as investors weighed the Federal Reserve's latest interest rate hike and commentary about the health of U.S. financial institutions. The SPDR S&P Regional Bank ETF (KRE) closed down 5.7%. The fate of regional banks has been in question since the closure of Silicon Valley Bank sparked a broader industry crisis. "The U.S. banking system is sound and resilient," the FOMC said in its statement. Adding to the drop in regional bank shares were comments from Treasury Secretary Yellen, who told the U.S. Senate appropriations subcommittee that the U.S. was not currently working on "blanket insurance" for bank deposits.

☆ Top banking analyst Mike Mayo just made two regional banks his prime picks to buy
▼ + stars: | 2023-03-22 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Regional banks PNC and U.S. Bancorp could prove smart picks in the sector while it's still feeling pressure from the latest crisis, Wells Fargo said. Investors have zeroed in on regional bank stocks in recent days while trying to decipher whether plans to help First Republic shore up liquidity are enough to keep the bank afloat. The SPDR S & P Regional Bank ETF (KRE) has risen 6% this week, regaining some of the ground lost last week, when it slid 14%. U.S. Bancorp, the parent of U.S. Bank, completed its acquisition of Union Bank's regional franchise near the end of 2022. 'Highest quality banks' Mayo called both among the "highest quality banks," noting a strong history of underwriting.

☆ If you like big banks, there's an ETF for that.
▼ + stars: | 2023-03-22 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +3 min

Roundhill Investments launched its new Big Bank ETF (BIGB) on Tuesday in response to the banking crisis. The fund includes no regional banks but holds equally weighted positions in six institutions: Bank of America , Citigroup , Goldman Sachs , JPMorgan Chase , Morgan Stanley and Wells Fargo . Comparably, the SPDR S&P Bank ETF (KBE) holds a 0.35% ratio. The launch of the ETF comes as larger banks are increasingly being seen as relative safe havens in the sector, while regional bank stocks remain volatile this week. "With these sector ETFs in general, and more concentrated ETFs, you really want to make sure you want to overweight them."

☆ The stock market is amazingly in the green since the bank crisis broke out. Here's why
▼ + stars: | 2023-03-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Despite the banking crisis, the S & P 500 is actually higher than it was the day before Silicon Valley Bank's troubles dragged the banking sector down. Crisis causes Fed to 'grip the wheel' The bank crisis is also seemingly affecting the Federal Reserve 's policy of raising interest rates, experts said. Yet on Wednesday, the Fed announced a 25 percentage point increase , while expressing caution about the banking crisis. "The banking crisis basically caused the Fed to grip the wheel with two hands and take a more cautious approach to its rate tightening policy," Stovall said. "Other areas of the economy, including larger companies who may maintain access to bank credit and public markets (and perhaps consumer relative to commercial borrowers) might then escape with less negative impacts," he said.

☆ CNBC Daily Open: Not everyone’s happy about UBS buying Credit Suisse
▼ + stars: | 2023-03-21 | 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. Markets might face a Minsky moment soon, warned Marko Kolanovic, JPMorgan Chase's chief market strategist and co-head of global research. With that in mind, investors might want to heed Kolanovic's warning that a Minsky moment could be on the horizon. Subscribe here to get this report sent directly to your inbox each morning before markets open.

In this article FRCKRE Follow your favorite stocks CREATE FREE ACCOUNTwatch nowPeople make their way near a First Republic Bank branch on March 16, 2023 in New York City. First Republic has been seen as one the remaining regional banks most at risk for the same fate as SVB, due to the large percentage of uninsured deposits it had as of the end of the fourth quarter. JPMorgan Chase led a group of 11 banks last week that deposited a combined $30 billion into First Republic, but its stock has continued to decline. Stock Chart Icon Stock chart icon First Republic, 1-dayReuters reported on Tuesday that major bank leaders were having a pre-scheduled meeting in Washington, with First Republic as a topic of discussion, and that the regional bank was considering downsizing as a way to raise cash. Stock Chart Icon Stock chart icon Regional bank ETF, 1-day

☆ Traders, buying the dip in Schwab, are finding value in the beaten-up financial sector
▼ + stars: | 2023-03-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Some traders are using the recent pullback in financial stocks to scoop up shares of what they call quality names at bargain prices. That includes Charles Schwab , down 23% this month, as turmoil rocks the broader financial sector, especially hitting regional banks. She views the slump in Schwab shares, up 7% Tuesday but still trading at 14 times earnings, as an opportunity to add to her list of quality financial stocks. Traders like Cerity Partners' Jim Lebenthal recommend playing the banking sector through regionals, or the SPDR S & P Regional Banking ETF . KRE 1M mountain Regional bank ETF slumps 25% in March After a short time in First Republic , Lebenthal said he sold the San Francisco-based regional bank given stepped-up bearish sentiment, taking a 10% loss.

☆ First Republic was a good bank, but sentiment has taken over, says Cerity's Jim Lebenthal
▼ + stars: | 2023-03-21 | 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 EmailFirst Republic was a good bank, but sentiment has taken over, says Cerity's Jim LebenthalCerity Partners' Jim Lebenthal sold his First Republic shares but held on to the S&P regional bank ETF, the KRE. With CNBC's Melissa Lee and the rest of the 'Halftime Report' investment committee, Hightower Advisors' Stephanie Link and Ritholtz Wealth Management's Josh Brown.

☆ CNBC Daily Open: First Republic Bank is trying to save itself
▼ + stars: | 2023-03-21 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

☆ This stock can rally more than 50% as people turn to larger regional banks after SVB collapse, Baird says
▼ + stars: | 2023-03-20 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

U.S. Bank could be a beneficiary as the bank crisis pushes depositors to move holdings to larger regional banks, according to Baird. George's price target of $52 implies the stock could rally 57.8% from where it closed Friday. The SPDR S & P Regional Banking ETF (KRE) ending last week down 14.3%, while US Bank lost 18.9% over the course of last week. George said US Bank and other "super regionals," a term for larger regional banks, will likely gain deposits as customers look away from smaller banks amid concerns of future bank runs. USB KRE 5D mountain US Bank and KRE ETF — CNBC's Michael Bloom contributed to this report.

☆ Banks could become a sector of 'haves and have nots.' How the 'Halftime' Traders are preparing
▼ + stars: | 2023-03-20 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

"This is a classic example of a company that's gonna do well when all the other banks are not," Sethi said on CNBC's "Halftime Report." Shares of New York Community Bancorp surged more than 35% Monday, rebounding from losses of 11.3% and 14.6%, respectively, the past two weeks. The announcement made her think, "the game has changed for New York Community Bank." "One bank's loss is going to be another bank's gain, and that's exactly what this is." NYCB FRC,KRE 1M mountain New York Community Bancorp, First Republic and the KRE's past month

☆ First Republic shares slide 18% Monday after a credit rating downgrade
▼ + stars: | 2023-03-20 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

A trader works at the post where First Republic Bank stock is traded on the floor of the New York Stock Exchange (NYSE) in New York City, March 16, 2023. S&P cut its credit rating to B+ from BB+ on Sunday after first lowering it to junk status just last week. Shares of First Republic Bank , which have become the barometer of the regional bank crisis, slid once again Monday after Standard & Poor's cut the credit rating of the San Francisco-based institution. On Thursday, a group of major banks agreed to deposit $30 billion in First Republic to shore up confidence in regional banks. Credit Suisse executives noted that the U.S. regional bank crisis caused enough instability that forced the already shaky institution to merge with its rival.

☆ Big changes in the S&P 500 Friday highlight the power of index providers
▼ + stars: | 2023-03-17 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Ever wonder why Walmart is classified as a consumer staples stock in the S&P 500, but similar retailers such as Target, Dollar General and Dollar Tree are classified as consumer discretionary stocks? Target, Dollar General and Dollar Tree will move from the consumer discretionary corner of the stock market, and join Walmart as consumer staples companies. Consumer staples will get bigger; consumer discretionary will get a little smaller. If you're an investor in a broadly diversified total market index fund like the S&P 500, the changes will make little difference to you. "Are they reflecting changes in consumer demand or the changes in the marketplace structure?"

Organizations: & & '

☆ First Republic shares fall more than 20% despite deposit infusion, dragging down other regional banks
▼ + stars: | 2023-03-17 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

People are seen inside the First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike SegarShares of First Republic were under pressure Friday despite the beaten-down regional bank receiving aid from other financial institutions. ET, the stock was down about 24% and was the worst performer in the SPDR S&P Regional Banking ETF (KRE) — which dropped 5%. PacWest and Western Alliance also lost more than 13% each, while KeyCorp slid 8%. Those losses come even after 11 other banks pledged to deposit $30 billion in First Republic as a vote of confidence in the company.

☆ ETFs show that investors are confused about where the markets are going
▼ + stars: | 2023-03-16 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

A common tool to gauge the market's intent is following inflows and outflows in large ETFs. There have been outflows from corporate bond ETFs like Vanguard Short-Term Corporate Bond (VCSH), high yield funds like SPDR High Yield ETF (JNK), bank loan ETFs like SPDR Senior Loan ETF (SRLN) and bank stock ETFs like Invesco KBW Bank ETF (KBWB). The Credit Suisse issue was somewhat different. Europeans at the conference were surprised that there was a focus on Credit Suisse. The common thread of the commentary was that Credit Suisse had never recovered from the financial crisis, that it had been in decline for nearly 20 years.

☆ Four regional bank stocks for the brave to buy, according to UBS
▼ + stars: | 2023-03-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

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.

☆ First Republic falls 25% as regional bank stocks continue to sink
▼ + stars: | 2023-03-16 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

The struggles for regional bank stocks has continued despite the announcement from U.S. regulators over the weekend of additional support. The SPDR S&P Regional Bank ETF (KRE) has dropped more than 11% this week. The SPDR S&P Regional Bank ETF (KRE) was down another 1% in premarket trading Thursday. However, the Swiss National Bank struck a deal with Credit Suisse to allow the national bank to borrow up to roughly $54 billion. But while Credit Suisse's struggles could have ripple effects throughout the global banking system, the Swiss bank's problems appear to be unrelated to the U.S. regional banks.

☆ CNBC Daily Open: Regional banks dodge a crisis — for now
▼ + stars: | 2023-03-15 | 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. And after the chaotic few days following Silicon Valley Bank's collapse, unsurprising is what markets needed. The bigger news of the day was banks' — and investors' — reaction to U.S. financial regulators' measures to protect the financial industry. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Regional banks rise, and everyone takes a breath
▼ + stars: | 2023-03-15 | 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. Of course, the muted reaction to the CPI might be because the numbers were exactly in line with estimates. The bigger news of the day was banks' — and investors' — reaction to U.S. financial regulators' measures to protect the financial industry. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Michael Burry compares government's bank rescue to J.P. Morgan's stand that reversed Panic of 1907
▼ + stars: | 2023-03-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"The Big Short" investor Michael Burry said regulators' extraordinary action to backstop regional banks should be enough to resolve this crisis and stabilize the financial markets. "In October 1907, Knickerbocker Trust failed due to risky bets, sparking a panic. 3 weeks later the Panic resolved & markets bottomed," Burry said in tweet Wednesday. More than a century ago, the financial crisis known as the "Panic of 1907" took place where there were numerous runs on banks, including Knickerbocker Trust. Burry was depicted in Michael Lewis' book "The Big Short" and the subsequent Oscar-winning movie of the same name.

☆ Credit Suisse plunge sends traders flocking to its U.S-listed options
▼ + stars: | 2023-03-15 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

That made Credit Suisse the fourth most heavily traded single-stock name in the U.S. options market on Wednesday. The surge in trading followed a near 31% tumble in Credit Suisse shares on Wednesday after Saudi National Bank (SNB) (1180.SE), which holds 9.88% of Credit Suisse (CSGN.S), said it would not buy more shares on regulatory grounds. Trading in Credit Suisse puts outnumbered that in its call options 1.7-to-1. "There's a lot of moving parts in the Credit Suisse trade right now with respect to a major credit event, European bank contagion, and the possibility of ECB intervention," said Steven Place, an independent options trader in Destin, Florida. For SPDR S&P regional banking ETF (KRE.P), the options trading action was a mix of investors taking profits on existing hedges while putting on new defensive positions, Susquehanna's Murphy said.

☆ Financial shares fall as Credit Suisse becomes latest crisis for the sector
▼ + stars: | 2023-03-15 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Shares of the Swiss bank fell more than 24% after its biggest backer said it won't provide further financial support. Credit Suisse announced on Tuesday that it had found " material weakness " in its financial reporting process from prior years. Bank stocks were under pressure on Wednesday as the sharp drop of Credit Suisse rattled a segment of the market that was already reeling from two large bank failures in the past week. Some regional bank stocks saw even bigger declines. Credit Suisse struggles come on the heels of the collapse of Silicon Valley Bank and Signature Bank in the U.S. Those failures caused steep sell-offs in regional bank stocks on Monday.

Shares of First Republic were up sharply in early Tuesday trading as concern over the state of the regional bank appeared to ease after a day of heavy selling. Shares of other regional banks also surged before the bell. Those moves come after regional banks fell sharply on Monday, even after U.S. regulators took extraordinary measures to backstop all depositors in the now-failed Silicon Valley Bank. In addition the backstopping the deposits at SVB and Signature Bank, which was closed on Sunday, federal regulators also announced efforts on Sunday to stabilize the wider banking system. "Outflows did not accelerate during the last few days and, in fact, some banks have seen net inflows given movement in deposits from SVB and Signature Bank," Tamayo said in a note to clients.

☆ US options traders bet on near-term recovery as bank stocks rebound
▼ + stars: | 2023-03-14 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

Options traders were buying up short-term call options on a variety of names, including the SPDR S&P regional banking ETF (KRE.P) and regional banks such as First Republic Bank (FRC.N) and Western Alliance Bancorp (WAL.N). "It's early days here but … there is some stability returning in bank share price action," said Michael Purves, chief executive of Tallbacken Capital. "Risk-on appears to be the flavor for regional banks today," said Ophir Gottlieb, chief executive of Los Angeles-based Capital Market Laboratories. Bullish speculation was particularly heavy in options expiring in less than a week, while longer-dated options saw less interest, he said. With some calm returning on Tuesday, options traders' also dialed back expectations for more near-term fireworks from the sector.

☆ Oakmark's Bill Nygren sees an opportunity in bank stocks amid sector turmoil
▼ + stars: | 2023-03-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Oakmark Select Fund's Bill Nygren said it is a good time to buy bank stocks, as attention shifts away from the failure of Silicon Valley Bank and toward financial names he believes are strong investments. "I think it's important for people to understand just how different SVB is or was compared to other bank stocks," Nygren said on CNBC's "Closing Bell." The fund manager said the tech-focused Silicon Valley Bank lacked a diversified source of depositors, almost all of them being uninsured, and also had a substantial investment in long-duration assets. The portfolio manager said that the bank stocks Oakmark owns trade at a multiple that is about six to eight times their earnings. It dropped by more than 12% on Monday after banking regulators seized Silicon Valley Bank and Signature Bank, the second- and third-largest bank failures , respectively, in U.S. history.

Search resuls for: "P Regional"

25 mentions found