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|Bid||39.61 x 1200|
|Ask||40.06 x 1400|
|Day's Range||39.57 - 40.07|
|52 Week Range||30.85 - 50.82|
|PE Ratio (TTM)||7.08|
|YTD Daily Total Return||-9.28%|
|Beta (5Y Monthly)||1.02|
|Expense Ratio (net)||0.35%|
The banking industry may be resilient, but it is showing signs of stress, according to a report from the Federal Deposit Insurance Corp. on Thursday. Second-quarter earnings at U.S. banks amounted to $70.8 billion, the FDIC said. The tally marks an 11.3% drop from the prior quarter but that decrease stemmed from the failure of Silicon Valley Bank and two other institutions this spring.
The Federal Reserve is still battling stubbornly high inflation, along with new concerns over the state of the country's financial system. The concerns have sparked global jitters and can ultimately "trump the inflation objective in the very near term," Krishna Guha, Evercore ISI Vice Chair, tells Yahoo Finance. The Fed is trying to "walk and chew gum at the same time," he says. Much of Wall Street remains split on the Fed's next move. The bar for pausing and the bar for cutting are "very, very different," Guha says. "The bar for pausing is not that high," while the bar for cutting is "much higher" on both a qualitative and quantitative sense, Guha explains. "You can pause on the expectation that things are going to move in a more disinflationary direction. But...you're only cutting upon substantial further realized growth in moving toward inflation heading back toward target," he says. "A severe enough episode..could stomp out the Fed's focus on realized inflation progress." You can watch Guha's entire interview with Brad Smith and Julie Hyman here. Key Video Moments 00:00:21: Fed's inflation objective 00:00:47: The bar for pausing vs. cutting
Treasury Secretary Janet Yellen told lawmakers on Thursday the failure of Silicon Valley Bank and Signature Bank are not events that broadly undermine confidence in the U.S. banking system.
Many investors are interested in buying oversold bank stocks right now. Renowned banks that have little to do with the collapse of Silicon Valley Bank are now trading well below their 52-week highs and at sizable discounts to book value. Unfortunately, it can be difficult to be opportunistic when you are worried that a position can become a zero overnight. This is why it can be beneficial to invest in bank ETFs instead of picking individual bank stocks. This approach allows investors to take adv
|Corebridge Financial Inc||CRBG||1.88%|
|First Citizens BancShares Inc Class A||FCNCA||1.82%|
|East West Bancorp Inc||EWBC||1.75%|
|Voya Financial Inc||VOYA||1.72%|
|Cullen/Frost Bankers Inc||CFR||1.71%|
|PNC Financial Services Group Inc||PNC||1.71%|
|Bank of Hawaii Corp||BOH||1.70%|
|Prosperity Bancshares Inc||PB||1.70%|
|Wells Fargo & Co||WFC||1.69%|