Regional Bank Stocks Catch A Bid Ahead of Fed's Stress Test Results
Stocks in the Regional Banking space are getting a nice buoy Thursday afternoon as traders are positioning themselves ahead of the release of the Fed's stress test results. These figures will be released at 4PM EDT on federalreserve.gov.
These stress tests -- put in place by the Dodd-Frank Act -- consider a financial institution's all-important capital ratio levels, sales figures, and loss forecasts under several situations, including "adverse" and "severely adverse" scenarios.
Investors looking to play the space should consider the SPDR KBW Regional Banking ETF (NYSE: KRE). The fund is up about 1.8 percent to $42.36 at last check. The ETF has not been trading at this level since late 2008.
Around the Regional Banking sector:
- PNC (NYSE: PNC) up 1.8 percent;
- BB&T (NYSE: BBT) up 1.9 percent;
- SunTrust (NYSE: STI) up 2.2 percent;
- Regions Financial (NYSE: RF) up 2.1 percent;
- KeyCorp (NYSE: KEY) up 2.1 percent;
- CIT Group (NYSE: CIT) up 1.8 percent;
- Comerica (NYSE: CMA) up 3.6 percent; and,
- Huntington Bancshares (NASDAQ: HBAN) - up 2.7 percent
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