|Day's Range||98.73 - 99.59|
|52 Week Range||79.85 - 111.99|
Under the shadow of the BB&T and SunTrust merger, regional bank CEOs shrugged off the idea of M&A on their earnings calls. But could dealmaking be happening in the backrooms?
The consumer watchdog agency announced it would be paring back a major part of its regulatory guardrails on the payday lending industry.
Former Wells Fargo CEO Dick Kovacevich is selling tech and other stocks in favor of banks, which stand to gain from rising interest rates and a steepening yield curve. Amid fears that more expensive debt from rising borrowing costs could dampen corporate profits and the economy, banks are making gains. Kovacevich attributes previous sluggishness in bank stocks to fear economic growth could slow but says banks are priced to rise moving forward.