|Bid||45.47 x 3000|
|Ask||45.62 x 3000|
|Day's Range||45.07 - 46.25|
|52 Week Range||39.28 - 48.17|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-3.79%|
|Beta (5Y Monthly)||1.44|
|Expense Ratio (net)||0.35%|
Regions Financial Corp. reported Friday a fourth-quarter profit that fell a bit short of expectations, while revenue was in line with forecasts. The stock was little changed in light premarket trading. Net income was $366 million, or 38 cents a share, compared with $390 million, or 37 cents a share, in the year-ago period. The FactSet consensus was 39 cents. The regional bank said non-recurring items, such as losses on the early extinguishment of debt and charges for branch consolidation, reduced earnings per share by 2 cents. Total revenue rose 3% to $1.48 billion, matching the FactSet consensus, while net interest income slipped 4.1% to $931 million, but topped expectations of $926.5 million. Total loans grew 0.6% to $82.39 billion, while consumer lending fell 3.4% to $30.42 billion. The stock has gained 7.1% over the past three months, while the SPDR S&P Bank ETF has advanced 8.0% and the S&P 500 has tacked on 10.6%.
Shares of Popular Inc. rose 1.4% in morning trading Thursday, after the Puerto Rico-based bank said it was raising its dividend by 33% and was planning to buy back up to $500 million worth of its common stock. The dividend increase raises the quarterly payout to 40 cents a share from 30 cents. Based on current stock prices, the new annual dividend rate implies a dividend yield of 2.70%, compared with the implied yield for the SPDR S&P Bank ETF of 2.36% and for the S&P 500 of 1.83%. The buyback program could represent up to 8.44 million shares, or about 8.7% of the shares outstanding, based on recent outstanding share counts. The stock has rallied 11.1% over the past three months, while the bank ETF has advanced 13.1% and the S&P 500 has gained 11.9%.
With mergers and acquisition activity picking up, regional banks and financial sector ETFs that track smaller firms could benefit from the increased consolidation. There were 35 deals in the regional banking space last year, the highest number since 1999, and with the 2020 presidential election looming, buyers may be in a hurry to lock in deals in the first half of the year before a potentially new president comes to office, MarketWatch reports. “Bankers might have a short window to get those deals done,” S&P Global Market Intelligence said in a note.
After heavy investment, banks should finally get "married" to technology this decade, with fuller digital integration, according to veteran bank analyst Mike Mayo.
The SPDR S&P Bank ETF (NYSEArca: KBE) is higher by 26.51% year-to-date, an arguably surprising rally when considering it was accrued against the backdrop of three interest rate cuts by the Federal Reserve. ...
Gerard Cassidy, managing director at RBC Capital Markets, thinks the rally in bank stocks should persist into 2020.
Despite declining interest, which weighs on banks’ net interest margins, the SPDR S&P Bank ETF (NYSEArca: KBE) is higher by nearly 24% this year. Even with an impressive rally, some market observers believe ...
A recent spate of slack economic data has plenty of market observers speculating that the Federal Reserve could again lower interest rates, perhaps as soon as this month, and that chatter is pressuring ...
The Federal Reserve could make major changes to bank rules and alleviate some of the pressure on the financial sector and related ETFs. The Fed said it would vote October 10 on a measure to ease liquidity ...
Global banking firm J.P. Morgan has reached new highs despite the Federal Reserve cutting interest rates, which could put the banking sector in a bind as lower rates could affect their lending businesses. Analysts like Miller Tabak’s equity strategist Matt Maley said that as bond prices climb, banking stocks could come under pressure. Investors have been piling in on bonds the last few months as a go-to safe haven shift, which has caused Treasury yields to fall and bond prices to climb.
Though the latest steepening of the yield curve benefited bank ETFs on Sep 9, chances of volatility in the longer-term period may keep gains in bank ETFs at check.
Bank sector-related ETFs found strength Monday as government bonds pulled back and yields climbed on easing investor fears surrounding a U.S.-China trade war that has shown signs of de-escalation. On Monday, ...
The Financial Select Sector SPDR (NYSEArca: XLF), the largest financial services ETF, is lower by more than 5% this week. That’s ugly price action to be sure, but it may also belie significant opportunity ...