Short interest for SPDR S&P Regional Banking ETF gives investors a sense of the degree to which investors are betting on the decline of SPDR S&P Regional Banking ETF's stock. Short interest data is updated every two weeks.

SPDR S&P Regional Banking ETF (ARCA:KRE), Short Interest Report

SPDR S&P Regional Banking ETF

Munich,,Bavaria,,Germany,-,March,31,2023:,Metropolitan,Bank,Holding

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HBAN

Regional bank stocks (i.e., Metropolitan Bank) represented by SPDR S&amp;P Regional Banking ETF, have rebounded after hitting 200-day moving average.

Regional Banks Surge: Earnings Propel Rebound From Key Support Level At 200-Day Average

Earnings

Earnings Beats

News

FITB

Banks are coming out of a challenging quarter. Analysts project a further decline in net interest income by approximately 3.6%.

Market Reaction To Bank Earnings Is Mixed, JPMorgan Analysts Project Further Decline In Net Interest Income

Bank,Of,America,In,Beverly,Hills

Equities

Broad U.S. Equity ETFs

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Economics

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US financial stocks fall amid subdued sentiment, regional banks test moving average support levels. Bank of America, Morgan Stanley report strong Q1 earnings beating expectations.

Financial Stocks Fall After Earnings, Major Banks Notch 4-Day Losing Streak: Regional Banks Hit Lowest Level Since Late 2023

KonaRed Corp

KKR Real Estate Finance Trust Inc. Common Stock

KKR Real Estate Finance Trust Inc

KKR Real Estate Finance Trust Inc. 6.50% Series A Cumulative Redeemable Preferred Stock

Keppel REIT

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Legal

Bank Regulators To Testify Before Congress In May

Regional bank stocks, as represented by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), have experienced a noticeable rebound after recently hitting the <a href="https://www.benzinga.com/money/200-day-moving-average#:~:text=200%2DDay%20SMA%20Formula,-To%20calculate%20the&amp;text=The%20200%2Dday%20SMA%20is%20recalculated%20every%20day%20by%20adding,200%20to%20calculate%20the%20average.">200-day moving average support. </a>
This positive movement follows a series of strong earnings aQ1 2024 reports from sector players. 
Despite this uptick, the gauge still remains nearly 20% below its pre-March 2023 crisis level, a stark reminder of last year&#8217;s turmoil in the regional banking sector.
Chart: Regional Banks Rebound Off 200-Day Support Line
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22110051/image-152-1024x495.png" alt="" class="wp-image-302555" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22110051/image-152-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22110051/image-152-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22110051/image-152-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22110051/image-152-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/22110051/image-152.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Analyst Insights And Key Stock Valuation </h3>
&#8220;Regional banks with strong deposit franchises are well-positioned in a structurally higher rate environment,&#8221; said Ebrahim H. Poonawala, a noted analyst from Bank of America. This sentiment reflects a broader industry expectation that Net Interest Income (NII) could recover this year, with credit losses remaining manageable. 
This forecast suggests a shifting investor attitude towards a &#8220;higher for longer&#8221; economic scenario.
Stock valuations among regional players are trading between hopes for a soft economic landing and pressures from sustained higher rates. 
Notably, large-cap regional banks are trading at a price-to-earnings (P/E) ratio of 9x for 2025, compared to a 5-year pre-pandemic median of 13.1x. 
This represents a 47% discount relative to the S&amp;P 500, which is a slight improvement from the previous 36% discount.
<h3 class="wp-block-heading">Standout Regional Bank Performers: Metropolitan Bank And Huntington Bancshares</h3>
Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>) stands out as a top performer among regional banks, with shares rallying 14% over the last month. 
The bank reported a first-quarter 2024 core EPS of $1.51, surpassing expectations due to robust revenue and lower-than-expected provision expenses. 
JPMorgan Chase &amp; Co&#8217;s analyst Alex Lau believes that this success can be attributed to its effective handling of deposit gathering and concerns over New York City commercial real estate loans, which makes up about 70% of its total loan portfolio, with an additional 10% in multifamily loans. Given the current investor apprehensions, particularly regarding office spaces, a weakening in the commercial real estate market could potentially raise credit concerns within the bank&#8217;s portfolio.
For Metropolitan Bank Holding, the financial outlook for 2024 includes a projected loan growth between $600 million and $800 million, with the net interest margin (NIM) expected to be between 3.45% and 3.50% in the fourth quarter. 
Operating expenses for the year are anticipated to range from $160 million to $163 million, while fee income is estimated to fall between $19 million and $21 million. 
The provision for credit losses could range from $6 million to $8 million, with the potential to increase depending on the year&#8217;s credit conditions. 
Additionally, Lau has revised core earnings per share (EPS) estimates for Metropolitan Bank Holding, increasing the 2024 estimate from $5.77 to $6.12 and the 2025 estimate from $7.57 to $7.71.
JPMorgan Chase &amp; Co. currently holds an Overweight rating on MCB, with a $55 price target, implying a 30% potential upside from current levels. 
See Also: <a href="https://www.benzinga.com/insights/analyst-ratings/24/04/38092252/evaluating-metropolitan-bank-holding-insights-from-4-financial-analysts">Evaluating Metropolitan Bank Holding: Insights From 4 Financial Analysts</a>
Huntington Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NYSE">HBAN</a>) has also seen a positive performance, increasing by over 6% in 2024, marking one the strongest returns in relation to the industry this year. 
As recently stated by Goldman Sachs, the bank&#8217;s first-quarter results were solid, with core pre-provision net revenue (PPNR) exceeding expectations driven by higher net interest income (NII) and reduced expenses.
Reported earnings per share were 0.26, beating the expected 0.24, and revenue came in at $1.77 billion, surpassing the forecasted $1.74 billion. 
&#8220;We still see several reasons to remain positive on the story as HBAN is one of the biggest beneficiaries of fixed asset repricing across the regionals,&#8221; analyst Ryan M. Nash, CFA, wrote. 
Additionally, Huntington Bancshares&#8217;s credit metrics continue to outperform regional averages, with net charge-offs (NCOs) at approximately 30 basis points and non-performing loans (NPLs) slightly up by 3 basis points quarter-over-quarter to 58 basis points. 
Huntington Bancshares is also in a &#8220;strong capital position&#8221; and well prepared to either pursue growth opportunities or stock buybacks ahead of its competitors.
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38356886/s-p-500-trades-at-two-month-low-where-is-the-next-support">S&amp;P 500 Trades At Two-Month Low: Where Is The Next Support?</a>
Image: Shutterstock

"Officials Plan To Float New Measure In Coming Days; Bank Regulators Revive Work On Dodd-Frank Bonus Rules, Sources Say" - WSJ

<a href="https://www.chicagofed.org/publications/speeches/2024/apr-19-society-advancing-business-editing-writing" title="https://www.chicagofed.org/publications/speeches/2024/apr-19-society-advancing-business-editing-writing">https://www.chicagofed.org/publications/speeches/2024/apr-19-society-advancing-business-editing-writing</a>

Federal Reserve

Fed's Goolsbee Says I Believe Banks Have Adequate Capital; Balance Sheet Decisions Are Separate From Monetary Policy

As the U.S. financial sector grapples with recent earnings releases, investor <a href="https://www.benzinga.com/calendars/earnings">reactions have been mixed</a>. 
Some stocks are witnessing declines. Others are posting gains. See below.
<h3 class="wp-block-heading">Banks Q1 Earnings Reports And Market Reactions, So Far</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Ticker</td>
<td>Mkt Cap ($ mn)</td>
<td>Price ($)</td>
<td>Rating</td>
<td>JPMorgan Price Target </td>
<td>End Date</td>
<td>Q1 Earnings Date</td>
<td>EPS</td>
<td>Revenue</td>
<td>Stock Reaction (since earnings) as of April 18, 2:40 PM ET</td>
</tr>
<tr>
<td>Citigroup Inc.</td>
<td>C</td>
<td>119,590.80</td>
<td>62.84</td>
<td>N</td>
<td>64</td>
<td>Dec-24</td>
<td>Apr 12</td>
<td>Beat</td>
<td>Beat</td>
<td>-4.46%</td>
</tr>
<tr>
<td>Wells Fargo</td>
<td>WFC</td>
<td>206,396.90</td>
<td>57.35</td>
<td>N</td>
<td>59</td>
<td>Dec-24</td>
<td>Apr 12</td>
<td>Beat</td>
<td>Beat</td>
<td>-0.11%</td>
</tr>
<tr>
<td>Bank of America</td>
<td>BAC</td>
<td>294,502.20</td>
<td>37.3</td>
<td>OW</td>
<td>39.5</td>
<td>Dec-24</td>
<td>Apr 16</td>
<td>Beat</td>
<td>Beat</td>
<td>2.43%</td>
</tr>
<tr>
<td>PNC Financial</td>
<td>PNC</td>
<td>63,173.54</td>
<td>157.54</td>
<td>OW</td>
<td>163.5</td>
<td>Dec-24</td>
<td>Apr 16</td>
<td>Beat</td>
<td>Miss</td>
<td>-0.79%</td>
</tr>
<tr>
<td>Citizens Financial Group</td>
<td>CFG</td>
<td>16,343.29</td>
<td>35.04</td>
<td>N</td>
<td>36.5</td>
<td>Dec-24</td>
<td>Apr 17</td>
<td>Beat</td>
<td>Miss</td>
<td>2.76%</td>
</tr>
<tr>
<td>U.S. Bancorp</td>
<td>USB</td>
<td>67,352.34</td>
<td>43.23</td>
<td>OW</td>
<td>45</td>
<td>Dec-24</td>
<td>Apr 17</td>
<td>Beat</td>
<td>Miss</td>
<td>-3%</td>
</tr>
<tr>
<td>Fifth Third Bancorp</td>
<td>FITB</td>
<td>24,506.88</td>
<td>35.98</td>
<td>N</td>
<td>37.5</td>
<td>Dec-24</td>
<td>Apr 19</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Regions Financial</td>
<td>RF</td>
<td>18,812.64</td>
<td>20.36</td>
<td>N</td>
<td>21</td>
<td>Dec-24</td>
<td>Apr 19</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>Truist Financial Corp</td>
<td>TFC</td>
<td>50,535.52</td>
<td>37.89</td>
<td>N</td>
<td>39.5</td>
<td>Dec-24</td>
<td>Apr 22</td>
<td></td>
<td></td>
<td></td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">US Banks Q1 2024 Earnings</figcaption></figure>
Citigroup Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) and Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) reported earnings on April 12. Both firms beat EPS and revenue estimates. 
Citi stock is down 4.46% while Wells Fargo&#8217;s stock is down 0.11% since April 12.
Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) reported a beat on both metrics; PNC Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>) fell short of consensus estimates on revenue. BAC stock is up 2.43% since then, but PNC is down 0.79%.
Then there&#8217;s Citizens Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>). The firm reported a beat on EPS but a miss on revenue on Wednesday. Citizens stock was trading up 2.76% during day trading on Wednesday by 2.40 PM ET. 
U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) reported a beat on EPS, but a miss on revenue. The firm&#8217;s stock was trading down by more than 3.3% at last check Wednesday, trading at $39.62 a share.
<h2 class="wp-block-heading">Macroeconomic Concerns </h2>
With the Fed delaying the rate cut decision, market sentiment towards banks and bank stocks appears muted, despite earnings beats. 
The SPDR Financial Select Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) has experienced a 1.17% decline since then (April 12), reflecting the market&#8217;s subdued sentiment. 
Regional banks, represented by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), have also dipped by 1.66% over these past 5 days. 
Upcoming earnings reports include:
<ul>
<li>Fifth Third Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NYSE">FITB</a>), Friday, April 19.</li>
<li>Regions Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>) also April 19</li>
<li>Truist Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), Monday, April 22</li>
</ul>
<h2 class="wp-block-heading">What Lies Ahead For Banks In 2024?</h2>
JPMorgan Chase anticipates a challenging quarter for banks. The firm&#8217;s analysts project a further decline in net interest income by approximately 3.6%; weak loan performance is expected to decrease by 0.8% quarter-over-quarter.
Moving forward, banks&#8217; ability to reduce deposit costs in response to potential rate cuts by the Federal Reserve, will be critical, notes JPMorgan, drawing attention to the ongoing competition posed by U.S. money market mutual funds.
Particularly during periods of rate adjustments, these tend to influence banks&#8217; deposit pricing strategies. 
Moreover, JPMorgan notes that retail segment deposits are expected to exhibit lower betas to rate cuts, with retail deposits comprising a significant portion of banks&#8217; total deposits. 
Notably, Citizens, Regions, Wells Fargo, and Truist have relatively higher shares of retail deposits, albeit with nuances in their compositions. 
Citi stands out with a smaller proportion of U.S. retail deposits but holds a larger volume of overseas deposits, characterized by lower deposit betas compared to the US market.
More on this aspect, covered here: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38074736/big-banks-to-report-q1-earnings-analyst-prefers-bank-of-america-citi-likely-to-lag?utm_source=InvestingUK&amp;utm_campaign=partner_feed&amp;utm_medium=partner_feed&amp;utm_content=TopStories">Big Banks To Report Q1 Earnings: Analyst Prefers Bank Of America, &#8216;Citi Likely To Lag&#8217;</a>
For investors, the key lies in selective stock picking, favoring well-capitalized banks with robust reserves and reduced exposure to commercial real estate. The upcoming reports will provide valuable cues for investors navigating the financial landscape in the months ahead.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38280369/financial-stocks-fall-after-earnings-major-banks-notch-4-day-losing-streak-regional-banks-hit-lowes">Financial Stocks Fall After Earnings, Major Banks Notch 4-Day Losing Streak: Regional Banks Hit Lowest Level Since Late 2023</a>
Image: Midjourney

Shares of U.S. financial companies have negatively responded to the flood of recent earnings reports for the sector, mirroring the market&#8217;s subdued sentiment due to <a href="https://www.benzinga.com/general/politics">geopolitical threats</a>. 
The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) fell 0.68% Tuesday in its fourth straight day of losses. The sector gauge has broken below its 50-day moving average and closed at the lowest level in nearly two months. 
Regional banks, as tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), fell 1.27% to the lowest closing price since late November 2023. Regional bank stocks are testing the long-term moving average support level.
<h3 class="wp-block-heading">Chart: US Financial Stocks Fall Below 50-Day Average</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16144829/image-85-1024x495.png" alt="" class="wp-image-294564" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16144829/image-85-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16144829/image-85-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16144829/image-85-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16144829/image-85-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16144829/image-85.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Chart: Regional Banks Make Lowest Close Since Late 2023, Test 200-Day Average</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16145129/image-87-1024x495.png" alt="" class="wp-image-294570" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16145129/image-87-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16145129/image-87-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16145129/image-87-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16145129/image-87-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/16145129/image-87.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Bank Of America Q1 Earnings </h3>
In the first quarter of 2024, Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) reported earnings that exceeded analyst expectations. Adjusted earnings per share of 83 cents surpassed the estimated 77 cents. 
Net revenue, excluding interest expenses, amounted to $25.82 billion, slightly higher than the projected $25.43 billion. However, the bank&#8217;s loans totaled $1.05 trillion, slightly below the estimated $1.06 trillion. 
Shares of Bank of America fell 3.52% on Tuesday, eyeing the lowest close since early March 2024.
Read also: <a href="https://www.benzinga.com/news/earnings/24/04/38269003/bank-of-americas-q1-consumer-banking-income-takes-a-hit-adds-1m-credit-card-accounts">Bank of America&#8217;s Q1 Consumer Banking Income Takes A Hit, Adds 1M Credit Card Accounts</a>
<h3 class="wp-block-heading">Morgan Stanley: Q1 2024 Results</h3>
Read also: <a href="https://www.benzinga.com/news/earnings/24/04/38272690/why-morgan-stanley-shares-are-surging-today">Why Morgan Stanley Shares Are Surging Today</a>
Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) reported strong financial results, with EPS at $2.02, surpassing the estimated $1.66. Net revenue amounted to $15.18 billion, exceeding the estimated $14.46 billion. 
FICC (Fixed Income, Currencies, and Commodities) sales and trading revenue reached $2.49 billion, slightly surpassing the estimated $2.33 billion. 
Morgan Stanley&#8217;s net interest income was $1.8 billion, lower than the estimated $1.96 billion. Wealth management net revenue stood at $6.88 billion, surpassing the estimated $6.69 billion. 
Shares of Morgan Stanley rose 2.5% Tuesday. 
Now read: <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/04/38220176/major-us-banks-top-q1-earnings-estimates-as-high-interest-rates-offer-tailwinds-indi">Major US Banks Top Q1 Earnings Estimates As High Interest Rates Offer Tailwinds: &#8216;Indicators Continue To Be Favorable,&#8217; Jamie Dimon Says</a>
Photo via Shutterstock.

M&amp;T Bank Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) shares are trading higher after it reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38243902/m-t-bank-corporation-nyse-mtb-announces-first-quarter-2024-results" rel="noreferrer noopener">first-quarter FY24 results</a>.
Revenue of $2.260 billion, slightly missing the consensus of $2.263 billion. Net interest income expressed on a taxable-equivalent basis was $1.69 billion, down 8% Y/Y.
Noninterest income totaled $580 million, slightly lower than $587 million in the year-earlier quarter, with the net interest margin contracting to 3.52% vs 4.04% a year ago.
Net income of $531 million came below $702 million a year ago. EPS was $3.09,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">which came in line with the consensus</a>.
M&amp;T&#8217;s efficiency ratio was 60.8% compared to 55.5% in the year-earlier quarter. M&amp;T recorded a provision for credit losses of $200 million, higher than $120 million in the year-earlier quarter, reflecting elevated levels of criticized commercial and industrial loans and loan growth.
The allowance for credit losses totaled $2.19 billion or 1.62% of loans outstanding as of March 31, 2024, compared with $1.975 billion or 1.49% of loans outstanding in Q1 FY23.
M&amp;T held total assets of $211.5 billion as of March 31, 2024. Loans and leases, net of unearned discount, were $133.8 billion. The CET1 capital ratio was estimated at 11.07% as of March 31, 2024. 
Daryl N. Bible, M&amp;T&#8217;s Chief Financial Officer, said,&nbsp;&#8220;We are off to a solid start in 2024 as we were able to grow certain sectors of our commercial and consumer loan portfolios, while continuing to shrink our commercial real estate exposure. Expenses were prudently managed in the recent quarter and our selective approach to allocating resources to our strategic priorities with utmost care has not wavered.&#8221;&nbsp;
&#8220;M&amp;T&#8217;s liquidity and capital position strengthened, reflecting a stable deposit base, higher levels of borrowings and solid earnings after considering seasonal employee compensation expenses and an incremental FDIC special assessment.&#8221;
Investors can gain exposure to the stock via&nbsp;IShares U.S. Regional Banks ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>) and&nbsp;SPDR S&amp;P Regional Banking ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38242372/m-t-bank-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call" rel="noreferrer noopener">M&amp;T Bank Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>
Price Action: MTB shares are up 2.94% at $138.51 premarket on the last check Monday.
Photo via Wikimedia Commons

Movers

iShares Dow Jones US Regional Banks Index Fund

Why M&T Bank Shares Are Trading Higher Today

A fresh unexpected surge in inflation blindsided markets, shattering hopes for imminent Fed rate cuts and sending stocks down across the board. In March 2024, the annual Consumer Price Index (CPI) inflation rate surged to 3.5%, up from February&#8217;s 3.2%, surpassing <a href="https://www.benzinga.com/markets/commodities/24/04/38181302/inflation-rises-more-than-expected-to-3-5-in-march-derails-june-rate-cut-hopes">expectations set at 3.4%. </a>
Adding to concerns, core inflation, which excludes energy and food, also exceeded expectations, reaching 3.8% compared to the anticipated 3.7%, dismissing any justifications solely attributed to higher gasoline price pressures. 
Consequently, investors sharply revised down their expectations for Fed rate cuts, now anticipating the commencement of any easing policy no earlier than September, with less than two rate cuts expected by year-end.
<h3 class="wp-block-heading">What&#8217;s Hot/Cold In The CPI Basket?</h3>
Expenditure categories witnessing the highest month-over-month seasonally adjusted price increase in March were: 
<ul>
<li>Motor vehicle insurance: +2.6%</li>
<li>Motor vehicle maintenance and repair: +1.7%</li>
<li>Gasoline (all types): +1.7%</li>
<li>Hospital services: +1%</li>
<li>Meats, poultry, fish, and eggs: +0.9%</li>
</ul>
Those showing the lowest monthly inflation were: 
<ul>
<li>Fuel oil: down 1.3%</li>
<li>Used cars and trucks: down 1.1%</li>
<li>Cereals and bakery products: down 0.9%</li>
<li>Other food at home: down 0.5%</li>
<li>Airline fares: down 0.4%</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Sector Performance </h3>
By midday trading in New York, losses were broad-based within indices. 
<ul>
<li>454 out of S&amp;P 500 stocks traded in the red</li>
<li>93 Nasdaq 100 stocks were negative</li>
<li>1,783 out of Russell 2000 stocks were negative</li>
<li>898 out of Russell 1000 stocks were negative</li>
</ul>
No sectors managed to evade daily losses, with rate-sensitive pockets of the markets, such as real estate, feeling the brunt more acutely than others.
Energy managed to hold almost steady, as rising gasoline prices improved the outlook for oil companies. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>1-Day %Chg</th>
</tr>
</thead>
<tbody>
<tr>
<td> Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>-0.15%</td>
</tr>
<tr>
<td>Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>-0.75%</td>
</tr>
<tr>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>-0.92%</td>
</tr>
<tr>
<td>Industrials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>-0.93%</td>
</tr>
<tr>
<td>Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>-1.07%</td>
</tr>
<tr>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>-1.17%</td>
</tr>
<tr>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>-1.35%</td>
</tr>
<tr>
<td>Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>-1.44%</td>
</tr>
<tr>
<td>Materials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>-1.54%</td>
</tr>
<tr>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>-1.93%</td>
</tr>
<tr>
<td>Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>-3.85%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated At 11:40 a.m. ET</figcaption></figure>
Nine real-estate stocks tumbled by more than 7%: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-Day %</td>
</tr>
<tr>
<td>Opendoor Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>)</td>
<td>-10.04%</td>
</tr>
<tr>
<td>Global Net Lease, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNL#NYSE">GNL</a>)</td>
<td>-9.83%</td>
</tr>
<tr>
<td>Peakstone Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKST#NYSE">PKST</a>)</td>
<td>-9.26%</td>
</tr>
<tr>
<td>Hudson Pacific Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPP#NYSE">HPP</a>)</td>
<td>-8.82%</td>
</tr>
<tr>
<td>Anywhere Real Estate Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOUS#NYSE">HOUS</a>)</td>
<td>-8.36%</td>
</tr>
<tr>
<td>Piedmont Office Realty Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDM#NYSE">PDM</a>)</td>
<td>-7.77%</td>
</tr>
<tr>
<td>RE/MAX Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>)</td>
<td>-7.75%</td>
</tr>
<tr>
<td>eXp World Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NYSE">EXPI</a>)</td>
<td>-7.63%</td>
</tr>
<tr>
<td>Douglas Emmett, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEI#NYSE">DEI</a>)</td>
<td>-7.44%</td>
</tr>
<tr>
<td>Office Properties Income Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NYSE">OPI</a>)</td>
<td>-7.31%</td>
</tr>
</tbody>
</table>
</figure>
Looking at different industries, regional banks and solar stocks fell the most. 
<ul>
<li>The SPDR S&amp;P Regional Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) fell 4.7%, on track for the worst day since late January. </li>
<li>The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) fell 4.5%</li>
</ul>
Eight regional bank stocks tumbled more than 7% Wednesday: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-Day %</td>
</tr>
<tr>
<td>Lakeland Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBAI#NYSE">LBAI</a>)</td>
<td>-8.96%</td>
</tr>
<tr>
<td>Provident Financial Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFS#NYSE">PFS</a>)</td>
<td>-8.84%</td>
</tr>
<tr>
<td>Valley National Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NYSE">VLY</a>)</td>
<td>-8.44%</td>
</tr>
<tr>
<td>ServisFirst Bancshares, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>)</td>
<td>-7.81%</td>
</tr>
<tr>
<td>New York Community Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>)</td>
<td>-7.61%</td>
</tr>
<tr>
<td>OceanFirst Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OCFC#NYSE">OCFC</a>)</td>
<td>-7.58%</td>
</tr>
<tr>
<td>Flushing Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NYSE">FFIC</a>)</td>
<td>-7.53%</td>
</tr>
<tr>
<td>Eagle Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGBN#NYSE">EGBN</a>)</td>
<td>-7.50%</td>
</tr>
</tbody>
</table>
</figure>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38186082/this-puts-the-fed-in-quite-a-tricky-position-7-economists-weigh-in-on-march-inflati">&#8216;This Puts The Fed In Quite A Tricky Position&#8217;: 7 Economists Weigh In On March Inflation Report</a>
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Real Estate, Regional Bank Stocks Tank, Energy Cushions The Blow: March Inflation Rates Shake Up Sectors

Huntington Bancshares Incorporated&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>) shares are trading higher today.&nbsp;BofA Securities&nbsp;analyst Ebrahim H. Poonawala upgraded the stock to Buy (from Neutral) and raised the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/HBAN/analyst-ratings" rel="noreferrer noopener">price target to $16 (from $14)</a>.
The analyst says that Huntington Bancshares is well-positioned to navigate multiple macroeconomic outcomes.
Moreover, franchise investments, footprint, and solid execution is expected to drive an acceleration in revenue growth into 2025, writes the analyst. The analyst says fewer rate cuts are positive, with a potential for FY24 net interest income (NII) to remain flat.&nbsp;
In particular, the analyst predicts near-term growth in auto floor plan/inventory finance (Q1 seasonally strong) to provide defensibility and forecasts revenue growth accelerating to +8.4% FY25 (vs. +3.7% peer median).
The analyst writes that $13 billion-15 billion in fixed-rate loan repricing should serve as a tailwind to NII growth in FY24/FY25.&nbsp;
Poonawala revised the EPS estimates by 4% to $1.20 for FY24, 15% to $1.44 for FY25, and 14% to $1.55 for FY26 thanks to higher NII.&nbsp;
In January 2024, Huntington Bancshares reported a 10% Y/Y decline in fourth-quarter FY23 net interest income, and CEO Steve Steinour expressed optimism for 2024, highlighting attractive growth prospects and&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/01/36697126/huntington-ceo-upbeat-on-2024-prospects-despite-missing-q4-revenue-estimates-projects-attractive-gr" rel="noreferrer noopener">potential acceleration in loan growth</a>.
Investors can gain exposure to the stock via&nbsp;IShares U.S. Regional Banks ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>) and&nbsp;SPDR S&amp;P Regional Banking ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>).
Price Action: HBAN shares are up 2.83% at $13.98 on the last check Monday.
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Huntington Bancshares Gets Bullish Upgrade, Analyst Forecasts Accelerated Growth Despite Rate Worries

It looked like all systems go for the market Thursday after the U.S. Labor Department reported more initial jobless claims than expected. The data was construed as a signal that the labor market is cooling down, conducive to the Fed's goal of lowering inflation. All indices opened the day higher, with the tech sector and the Invesco QQQ Trust Series (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NYSE">QQQ</a>) leading the way, at one point trading up more than 1% and <a href="https://www.benzinga.com/topic/wall-street">eyeing a record close.</a> But, before the day was over, various Fed speakers appeared tentative about the notion of cutting interest rates too early, sending stocks into a freefall. 
The Price Action: The stocks that got hammered the hardest on Thursday came primarily from interest-rate-sensitive sectors like semiconductors and clean energy stocks. These companies are more prone to sell-offs on hawkish Fed policy, as they typically are borrowing money to help pay for growth. When interest rates stay higher for longer, it makes borrowing money more expensive, hurting profits. NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) and other chip names dropped significantly on the hawkish Fed Speak. The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), which tracks companies in the solar and clean energy space, fell more than 3% intraday on the interest rate fears. Other sectors that got hit include regional banks, with the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) dropping more than 2%, and the biotech industry, with the SPDR S&amp;P Biotech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XBI#NYSE">XBI</a>) dropping more than 2% intraday.
<h2 class="wp-block-heading">Comments From Fed Officials</h2>
On Thursday, Federal Reserve Bank of Richmond President Thomas Barkin said that the Fed should &#8220;take its time&#8221; cutting interest rates, and that data so far in 2024 has been less encouraging <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38099441/hawkish-fed-voices-lead-to-market-slide-its-possible-fed-wont-cut-this-year-if-inflati">in regards to slowing inflation. </a>
Then, less than an hour later, Chicago Fed President Austan Goolsbee said that housing inflation will need to come down to bring inflation to the Fed's 2% target. Other Fed officials that spoke Thursday raised doubts to if the central bank will be able to cut rates at all this year, let alone three times, like Chairman Jerome Powell laid out just a couple of weeks ago.
Now Read: <a href="https://www.benzinga.com/24/04/38098087/from-mouse-to-marvel-disney-stock-rockets-50-as-ceo-bob-iger-attempts-turnaround-plan">From Mouse To Marvel: Disney Stock Rockets 50% As CEO Bob Iger Attempts Turnaround</a>
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Clean Energy, Semiconductors Among Interest-Rate-Sensitive Sectors Hammered Thursday Afternoon On Rate Cut Concerns

&#8220;Rich Dad Poor Dad&#8221; author&nbsp;Robert Kiyosaki&nbsp;issued a dire prediction&nbsp;<a target="_blank" href="https://www.benzinga.com/personal-finance/24/03/37464513/older-and-wiser-now-means-being-richer-baby-boomers-own-72-of-nations-wealth-but-gen-x-and-the-y" rel="noreferrer noopener">for baby boomers</a>, the demographic group born between 1946 and 1964, on Friday.
What Happened:&nbsp;In a post on X, formerly Twitter, Kiyosaki warned, &#8220;BOOMERS to go BUST.&#8221; He attributed this concern to the recent collapse of a major entity in China. While he did not specify the exact bank, it&#8217;s likely a reference to the struggles of Chinese residential property developer&nbsp;Evergrande, which failed to restructure its $300 billion debt and faced liquidation earlier this year. Additionally,&nbsp;Zhongzhi Enterprise Group, a shadow bank that lent billions to real estate firms, declared insolvency.
A Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-28/china-s-property-crisis-is-rippling-through-its-biggest-banks" rel="noreferrer noopener">report</a>&nbsp;revealed that the&nbsp;Bank Of Communications Co.&nbsp;and&nbsp;Industrial &amp; Commercial Bank of China Ltd&nbsp;reported an increase in bad loans from residential mortgages, signaling trouble in the Chinese banking sector.
Watch Out America?&nbsp;Kiyosaki believes a similar crisis is unfolding in the United States, particularly in commercial real estate, where office buildings are facing financial difficulties.&nbsp;
He warned that baby boomers&#8217; retirement plans, heavily reliant on real estate investment trusts (REITs), are at risk as these assets falter. According to Kiyosaki, &#8220;Boomers retirements are going broke as paper assets crash.&#8221;
He advised investors, regardless of age, to divest from &#8220;fake assets&#8221; like fiat currency and instead invest in tangible assets like gold, silver, and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
&#8220;I do not trust anything that can be printed. Go real….Get real. Take care,&#8221; he posted.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BOOMERS to go BUST? Another giant bank in China went bust. Why? This time it's commercial real estate, not residential going bust. FYI. China has the three biggest banks in the world. The same is happening in US as commercial real estate, specifically office buildings go…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1773568731635200395?ref_src=twsrc%5Etfw">March 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-regional-bank-stocks" rel="noreferrer noopener">Best Regional Bank Stocks</a>
Why It Matters: In recent years, the U.S. banking system, particularly regional banks, has faced challenges, including the collapse of several major regional banks in early 2023.&nbsp;
While coordinated efforts by global central banks and regulators prevented a systemic crisis, concerns about more bank failures persist. S&amp;P Global downgraded the outlook for&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37950136/s-p-global-downgrade-for-5-us-regional-over-commercial-real-estate-concerns" rel="noreferrer noopener">five U.S. regional banks</a>&nbsp;this week, citing their exposure to commercial real estate.
The&nbsp;SPDR S&amp;P Regional Banking ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) closed Thursday&#8217;s session slightly up at $50.82.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/38001174/bitcoin-vs-gold-vs-spy-which-asset-class-wouldve-given-best-returns-on-1000-investm">Did Bitcoin, Gold Or S&amp;P 500 Make You Richer This Quarter? What $1000 Invested In These Asset Classes Would&#8217;ve Returned</a>
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'Rich Dad Poor Dad' Author Warns 'Baby Boomers To Go Bust' Because China-Like Crisis Is Coming To America: 'Get Real'

Shares of major U.S. financial stocks, as represented by the Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), surged to record highs, in the wake of the March Federal Open Market <a href="https://www.benzinga.com/topic/fomc">Committee (FOMC) meeting.</a> 
This rally was fueled by anticipations of stronger economic growth and a reduction in borrowing costs, potentially boosting loan <a href="https://www.benzinga.com/topic/banks">demands for U.S. banks.</a>
Equity analyst Ebrahim H. Poonawala from Bank of America highlighted the market&#8217;s optimistic outlook in a note on Thursday, noting the Fed&#8217;s projection of three 25 basis point rate cuts in 2024 and its &#8220;fairly soon&#8221; reference to the commencement of the quantitative tightening (QT) taper represent bullish signals for bank stocks.
Following the FOMC&#8217;s latest meeting and comments by Fed Chair Jerome Powell, regional bank stocks, as indicated by the SPDR Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), witnessed a sharp increase of over 4%, and surged by a further 3% on Thursday&#8217;s morning trading. 
Chart: US Financial Stocks Soar To Record Highs Post-Fed Meeting 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="476" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-1024x476.png" alt="" class="wp-image-260811" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-1024x476.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-300x139.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-768x357.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60-1536x714.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/21101255/image-60.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">A Shift In Market Sentiment: Toward A 1995 Scenario?</h3>
Poonawala&#8217;s analysis suggests that the increased confidence in a more lenient monetary policy has led markets to reassess the likelihood of tail risk events negatively impacting the economy. 
Instead, there&#8217;s a growing belief of &#8220;a 1995&nbsp;soft landing scenario for bank stocks,&#8221; where the sector could experience significant growth. 
Reflecting on history, the analysis recalled the year 1995, when bank stocks soared by 54% following a pause in Federal Reserve rate hikes, significantly outperforming the S&amp;P 500&#8217;s 34% gain.
<h3 class="wp-block-heading">Bank of America&#8217;s Bullish Outlook On Major Banks</h3>
The report further emphasized Bank of America&#8217;s continued positive stance on leading financial institutions such as Goldman Sachs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) and Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), propelled by the expectation of an upturn in capital market activities. 
This optimistic view was reinforced by the stellar debut of Astera Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) and the high-end pricing of Reddit&#8216;s IPO, suggesting a favorable risk/reward scenario for Goldman Sachs and Morgan Stanley.
<h3 class="wp-block-heading">Potential For &#8216;Super-Regional Banks&#8217; To Narrow The Gap Versus Major Players</h3>
Despite potential challenges such as increasing regulatory pressures and commercial real estate concerns, there appears to be room for regional banks to reduce the valuation gap with their Global Systemically Important Banks (GSIB) counterparts. 
Bank of America highlighted that super-regional banks – an elite group represented by U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), Synovus Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>), F.N.B. Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNB#NYSE">FNB</a>), First Bancorp. New (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) – are trading at an 8% discount relative to GSIBs, a notable shift from their historical 14% premium.
<h3 class="wp-block-heading">Goldman Sachs Is Bullish On First Citizens Bancshares</h3>
In a related analysis, Goldman Sachs equity analyst Ryan M. Nash initiated coverage on First Citizens Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NYSE">FCNCA</a>) with a Buy rating and <a href="https://www.benzinga.com/news/24/03/37864877/goldman-sachs-initiates-coverage-on-first-citizens-bancshares-with-buy-rating-announces-price-target">a $1,950 price target. </a>
Described as a leading regional bank, First Citizens Bancshares is well-positioned to return more than 20% of its market capitalization to shareholders through buybacks in the near term. Despite concerns over credit impairments linked to commercial real estate. 
Nash believes that the bank&#8217;s reserves are sufficient and anticipates an improvement in potential losses over time.
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37859344/s-p-500-closes-at-record-high-after-fed-charts-interest-rate-path-markets-continue-">S&amp;P 500 Closes At Record High After Fed Charts Interest Rate Path: &#8216;Markets Continue To Have A Green Light To Run Higher,&#8217; CIO Says</a>
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Bank Stocks Hit All-Time Highs: Analyst Points To Further Rally On 'A 1995 Soft Landing Scenario'

A safety net implemented by the Fed in the wake of the Silicon Valley Bank and Signature Bank failures in March 2023 has ceased operations this week.
The Federal Reserve&#8217;s Bank Term Funding Program (BFTP) was designed as an emergency bulwark against the looming threat of a regional banking crisis, offering an additional, affordable liquidity source <a href="https://www.benzinga.com/topic/banks">to eligible depository institutions.</a>
The cessation of this program may now raise significant concerns about the future of liquidity in financial markets, potentially altering the landscape of bullish risk sentiment that has buoyed investors in the recent past.
<h1 class="wp-block-heading">Chart: BFTP Funneled $164 Billion Into The U.S. Banking System</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/14115232/H41RESPPALDKNWW_2024-03-14_15-14-39_53f08-1024x495.png" alt="" class="wp-image-252154" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/14115232/H41RESPPALDKNWW_2024-03-14_15-14-39_53f08-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/14115232/H41RESPPALDKNWW_2024-03-14_15-14-39_53f08-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/14115232/H41RESPPALDKNWW_2024-03-14_15-14-39_53f08-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/14115232/H41RESPPALDKNWW_2024-03-14_15-14-39_53f08-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/14115232/H41RESPPALDKNWW_2024-03-14_15-14-39_53f08.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">Market Performance Under BFTP&#8217;s Umbrella</h1>
The Fed promptly unleashed the BFTP last year in response to financial collapses to ensure that banks remained equipped to fulfill depositor demands and business loan requests. 
The initiative successfully funneled $164 billion into the banking system, staving off a bank run and credit crunch risks. 
For investors, the program has represented a much-needed infusion of liquidity that partially cushioned the negative effect of the Fed&#8217;s balance sheet tightening.
Among other factors, the Fed&#8217;s emergency umbrella has been a useful aid in driving asset gains over the past year, with riskier assets notably outperforming their more defensive, higher-quality counterparts.
The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) surged 8% since a year ago and nearly 40% since hitting a low point in May 2023. The S&amp;P 500 Index has climbed 33% from its previous lows during the regional banking crisis, while the Dow Jones Industrial Average has seen a 22% increase.
Moving up the risk ladder, tech stocks, represented by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), have soared by 51%, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has witnessed an astonishing 218% surge.
<h1 class="wp-block-heading">Chart: Stocks And Bitcoin Performance Since March 2023</h1>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/14115308/BTCUSD_2024-03-14_15-30-25_d14f6-1024x495.png" alt="" class="wp-image-252156" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/14115308/BTCUSD_2024-03-14_15-30-25_d14f6-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/14115308/BTCUSD_2024-03-14_15-30-25_d14f6-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/14115308/BTCUSD_2024-03-14_15-30-25_d14f6-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/14115308/BTCUSD_2024-03-14_15-30-25_d14f6-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/14115308/BTCUSD_2024-03-14_15-30-25_d14f6.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">What Happens After The BFTP Expiration</h1>
According to Bank of America analyst Mark Cabana, borrowers who rely on the BFTP may face three options: renewing their loans ahead of expiration, securing alternative funding or allowing loans to expire without seeking replacement financing.
Data revealing whether banks tapped into the liquidity window in the last week ahead of expiration has not yet been published by the Fed.
Cabana expects that the cessation of the BFTP could lead to a drain on reserve balances held at the Fed if banks opt not to replace this funding source. 
Thus far, this situation hasn&#8217;t materialized, indicating banks&#8217; reluctance to reduce their cash levels. 
The liquidity landscape remains in evolution as the Federal Reserve presses forward with quantitative tightening and with the risk of keeping elevated interest rates for longer in light of recent surge in inflationary pressures.
Read Now: <a href="https://www.benzinga.com/economics/macro-economic-events/24/03/37698619/producer-inflation-tops-forecasts-in-february-signals-anxiety-over-price-pressure">Producer Inflation Tops Forecasts In February, Signals Anxiety Over Price Pressure Resurgence (UPDATED)</a>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Tech

Tightening The Tap: Regional Banks, Tech Stocks, Bitcoin Brace For Liquidity Crunch As Fed Lifeline Ends

Shares in New York Community Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) continued to fall heavily on Monday after a brief pick-up last week following the announcement of a <a href="https://www.benzinga.com/topic/regional-banks">$1 billion capital raise</a>.
On Wednesday last week, it was <a href="https://www.benzinga.com/news/24/03/37541268/mnuchin-sees-opportunity-to-turn-new-york-community-bancorp-into-very-attractive-regional-bank-highl">announced</a> that Steven Mnuchin, former Treasury Secretary, along with a number of other outside investors, would invest $1 billion in NYCB, sending shares up by 7.5% on the day.
The announcement&#8217;s stimulative impact didn&#8217;t last long, once investors realized the price they would be paying for the $1 billion injection. New shares were issued at $2, a deal that was described as &#8220;meaningfully dilutive to common shares&#8221; by analysts at Wedbush.
Wedbush rated the stock Underperform &#8220;based on NYCB&#8217;s above average exposure to commercial real estate (CRE) loans.&#8221; It set a target price of $3.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/11114824/newplot-2024-03-11T154811.275.png" alt="" class="wp-image-246859" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/11114824/newplot-2024-03-11T154811.275.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/11114824/newplot-2024-03-11T154811.275-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/equities/24/03/37565353/there-will-be-more-failures-powell-says-in-warning-for-regional-banks-over-commercial-real-estat">&#8216;There Will Be More Failures,&#8217; Powell Says In Warning For Regional Banks Over Commercial Real Estate Loans</a>
<h2 class="wp-block-heading">Significant And Expensive</h2>
Christopher McGratty at Keefe, Bruyette and Woods, said: &#8220;Last week&#8217;s capital raise was significant and very expensive, but also necessary to strengthen the balance sheet and begin to restore investor confidence.&#8221;
Retaining its Market Perform rating on the stock, KBW recalculated its earnings expectations on NYCB and readjusted its return on equity and price to tangible book value estimations to come up with a new target price of $3.75, reduced from its previous $7.50.
The analyst added that of the likely options for NYCB, a loan sale or credit risk transfer would likely follow. 
&#8220;A loan sale would be the cleanest transaction, and here we believe the $13 billion of commercial and industrial loans acquired from Signature Bank could be a good option given the shorter duration and recently marked nature of the book,&#8221; said McGratty.
On Monday, the shares were down 4.4% at $3.26 at the time of publication Monday.
<h2 class="wp-block-heading">Fed Concerns Over CRE Exposure</h2>
Smaller banks&#8217; exposure to CRE has become of increasing concern — not just to the banks and their depositors and investors —but also to banking regulators and other government agencies, including the Federal Reserve.
Last week, in front the Senate Banking Committee, Fed Chair Jerome Powell said: &#8220;There will be more failures.&#8221; But, he noted that the Fed had seen the problem coming and had been working with regional banks.
He added that this was a small and medium-sized bank problem — not a major concern for the large institutions.
Indeed, KBW analysts noted that banks with more than $100 billion in assets under management, held a combined 10% of outstanding CRE loans, while banks with less than $10 billion held over 40% of CRE loans.
The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), an exchange traded fund that tracks the regional banks listed on the S&amp;P 500, was down 0.5% on Monday.
Among its top holdings, Citizens Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) was down 1.2%, while Regions Financial Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>) was down 0.9% and Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) shed 1%.
Now Read: <a href="https://www.benzinga.com/news/24/03/37541268/mnuchin-sees-opportunity-to-turn-new-york-community-bancorp-into-very-attractive-regional-bank-highl">Mnuchin Wants To Turn New York Community Bancorp Into &#8216;Very Attractive&#8217; Regional Bank</a>
Photo: Below the Sky/Shutterstock

Downgrades

Reiteration

General

NYCB Shares Keep Falling As Investors Weigh 'Significant And Very Expensive' Financial Strategy

&#8220;There will be more bank failures.&#8221; This was the stark message from Federal Reserve chairman Jerome Powell on Thursday, addressing the exposure of regional banks to the crisis in the <a href="https://www.benzinga.com/topic/commercial-real-estate">commercial real estate sector</a>.
Powell was speaking before the Senate Banking Committee and said the Fed had identified the banks most at risk.
&#8220;It&#8217;s not a first-order issue for any of the very large banks. It's more smaller and medium-sized banks that have these issues,&#8221; he told the committee.
Recent data from Apollo Academy estimated that smaller banks hold almost 70% of the outstanding loans from commercial real estate (CRE) borrowers. Among these, it added, banks with total assets between $1 billion and $10 billion were carrying CRE loans worth an average of nearly 35% of their total assets.
Larger banks with more than $250 billion worth of assets typically had CRE exposure of little more than 5% of their assets.
<h3 class="wp-block-heading">Empty Office Space</h3>
Powell identified the problem as stemming from the change in working practices that were enforced during the COVID-19 pandemic, when many office staff were ordered to work from home. They were slow to return to the office, and many still haven&#8217;t leaving 19% of U.S. offices empty.
&#8220;Banks will have made loans to many of those buildings,&#8221; Powell said. &#8220;We have identified the banks that have high commercial real estate concentration and we are in dialogue with them.
He said the Fed was asking them: &#8220;Do you have enough capital? Do you have enough liquidity? Do you have plan, you&#8217;re going to take losses here? Are you being truthful with yourself and your owners?&#8221;
Powell added that the Fed had been working with these banks for some time and added: &#8220;This is a problem we&#8217;ll be working on for years more, I&#8217;m sure.&#8221;
Business Insider <a href="https://www.businessinsider.com/commercial-real-estate-exposure-at-top-banks-jpmorgan-wells-fargo?r=US&amp;IR=T#wells-fargo-and-co-1">identified</a> some of the regional banks with the largest exposures to CRE in a report it published in the second half of 2023.
Among them, Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), with total outstanding CRE loans of $53.1 billion. The Charlotte, North Carolina-based bank said that it had been cutting back on CRE lending.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37101164/could-empty-office-space-spark-systemic-credit-event-at-regional-banks">Could Empty Office Space Spark &#8216;Systemic Credit Event&#8217; At Regional Banks?</a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/08132657/newplot-2024-03-08T172631.678.png" alt="" class="wp-image-245211" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/08132657/newplot-2024-03-08T172631.678.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/08132657/newplot-2024-03-08T172631.678-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Minneapolis-based U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) had $52.9 billion in total outstanding CRE loans.
New York Community Bancorp has been among the worst hit after it reported earlier this year that it expected larger-than-expected losses on its CRE loans, of which it is estimated to have $51 billion outstanding.
Investors have punished NYCB for this, and the shares are 72% lower on the year.
<h3 class="wp-block-heading">Some Comfort For Shareholders</h3>
But the sector as a whole hasn&#8217;t been targeted by short sellers and shareholders have remained calm. Both Truist&#8217;s and U.S. Bancorp&#8217;s shares are flat on the year, while the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), an exchange-traded fund that tracks the sector, has fallen just 3%.
What could provide further comfort for investors in the sector in the coming months, is Thursday&#8217;s confirmation by Powell that the Fed has been on the case for some time.
While he noted it would be a problem for some years, interest rates will likely start to come down later this year, which should make it easier for firms to service their loans.
But concerns over rising delinquency rates will persist. Even though they are currently at low levels — 1.17% at the end of 2023 according to New York Fed data — they were trending higher into 2024.
Now Read: <a href="https://www.benzinga.com/news/mid-cap/24/03/37464095/downgrades-flood-in-for-commercial-real-estate-stocks-analysts-warn-of-rocky-road-ahead">Downgrades Flood In For Commercial Real Estate Stocks: Analysts Warn Of &#8216;Rocky Road Ahead&#8217;</a>
Image: Shutterstock

'There Will Be More Failures,' Powell Says In Warning For Regional Banks Over Commercial Real Estate Loans

<a href="https://www.banking.senate.gov/" title="https://www.banking.senate.gov/">https://www.banking.senate.gov/</a>

Fed Chair Powell Says We Have Identified Banks With High CRE Exposure, Especially Office, And Are In Dialogue With Them; Expects There To Be Bank Failures From CRE; But Not Big Banks, More Small And Medium Sized Banks With Biggest Exposure; All Banks Need To Be In Touch With Discount Window, Know How To Use It

Fed Chair Powell Says Only Banks Have Accounts At The Fed, And That's The Way We Are Going To Keep It; Not Remotely Close To Happening Anytime Soon; Federal Home Loan Banks Are Ahead Of Us In Technology

&nbsp;https://financialservices.house.gov/

Fed Chair Powell Says Our Fed Supervisors Are Engaged With Small And Medium-Sized Banks On Their Exposure Risks

New York Community Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) finds itself in the eye of the storm once again. 
On Thursday, the bank publicly acknowledged a &#8220;material weakness&#8221; in its internal controls concerning loan review processes. This admission was accompanied by a major leadership change at the top, highlighting a period of <a href="https://www.benzinga.com/news/24/02/37408849/new-york-community-bancorp-stock-nosedives-after-bank-identifies-material-weakness-in-internal-contr">upheaval for the company.</a>
The bank cited &#8220;ineffective oversight, risk assessment, and monitoring activities&#8221; as the root of the issues and promised to outline a remediation plan in its forthcoming annual report to the U.S. Securities and Exchange Commission within the next 15 days.
Thomas R. Cangemi, the former CEO, stepped down immediately after 27 years at the helm of the bank but will continue to serve on the board. The bank has appointed Alessandro DiNello as the new President and CEO and Marshall Lux as the Presiding Director of the Board.
Following these announcements, New York Community&#8217;s shares plummeted by over 20% shortly after the market opened on Friday. The move dragged down the broader regional bank industry, with the SPDR Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) down over 3%. 
Among the holdings in the KRE ETF, the table below shows the worst-performing regional bank stocks, excluding NYCB, at 10 a.m. ET on Friday.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-Day Chg %</td>
</tr>
<tr>
<td>Metropolitan Bank Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NASDAQ">MCB</a>)</td>
<td>-5.02%</td>
</tr>
<tr>
<td>Flushing Financial Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>)</td>
<td>-4.28%</td>
</tr>
<tr>
<td>Dime Community Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCOM#NASDAQ">DCOM</a>)</td>
<td>-4.27%</td>
</tr>
<tr>
<td>First Foundation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) </td>
<td>-4.16%</td>
</tr>
<tr>
<td>Valley National Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>)</td>
<td>-4.15%</td>
</tr>
<tr>
<td>Axos Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AX#NYSE">AX</a>)</td>
<td>-3.86%</td>
</tr>
<tr>
<td>M&amp;T Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>)</td>
<td>-3.63%</td>
</tr>
<tr>
<td>Pinnacle Financial Partners, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>)</td>
<td>-3.60%</td>
</tr>
<tr>
<td>Columbia Banking System, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>)</td>
<td>-3.54%</td>
</tr>
<tr>
<td>Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>)</td>
<td>-3.43%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">NYCB Tumbles: Analyst Reactions</h3>
&#8220;Uncertainty is the enemy of bank stock investing. And, without a doubt, the situation feels a bit uncertain at NYCB right now,&#8221; Piper Sandler analyst Mark Fitzgibbon, said. The analyst described the control weaknesses as the &#8220;most worrisome&#8221; issue, leading him to downgrade the stock from Overweight to Neutral. Piper Sandler expressed concern over potential further issues under the new leadership.
JPMorgan maintained a Neutral rating on the stock, citing a risk profile that remains outside a &#8220;comfort zone.&#8221;
David J. Chiaverini, CFA from Wedbush, highlighted that the internal control review might necessitate additional reserves, especially for the company&#8217;s exposure to NYC&#8217;s rent-regulated multifamily sector. Consequently, Wedbush lowered its core EPS estimates for 2024/2025 from 80 cents/90 cent to 55 cents/65 cents and reduced the price target from $5 to $3.50.
<h3 class="wp-block-heading">NYCB Tumbles: Regional Bank Movers</h3>
The issues at NYCB have raised broader concerns about the banking sector&#8217;s exposure to real estate loans, particularly to the office-related sector. 
According to a recent <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36967797/new-york-community-bancorp-plummets-to-26-year-lows-on-commercial-real-estate-fears">Goldman Sachs analysis</a>, NYCB&#8217;s commercial real estate loans make up 56% of its total loan portfolio, significantly higher than the 18% average for the regional banks under their coverage.
Other banks with a substantial commercial real estate exposure – above 20% of total loans – include First Hawaiian Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FHB#NASDAQ">FHB</a>), Synovus Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>), United Bankshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBSI#NASDAQ">UBSI</a>), First Horizon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>), and Citizens Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>). 
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37217267/banking-giants-confront-rising-delinquencies-in-commercial-real-estate-sector">Banking Giants Confront Rising Delinquencies In Commercial Real Estate Sector</a>
Photo: Shutterstock

COLB

DCOM

FFWM

PNFP

UBSI

Turmoil At New York Community Bancorp: Shares Tumble Over 20%, Regional Bank Investors Pull Back

JP Morgan's Jamie Dimon Says There Are Things Ahead That Are Concerning; Confidence Is Up In The Markets; Should Allow Some Of The Smaller Banks To Merge

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Top 10 best-performing bank stocks of 2024 as earnings results roll in

In this video, Ira Epstein reviews the day's trading in various SPDR-ETF markets for the trading day that ended, Friday, April 19.

SPDR ETF Report For Friday, April 19

U.S. equities see the largest net buying since late February - GS

While I am extremely focused on commodities as outlined in Monday's Daily, my viewpoint for most equities remains cautious to neutral. What might turn us to be more bullish? Let's analyze.

Quick Look At The Economic Modern Family

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Bonds, Banks And Builders Make Strange Bed Fellows

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Bears Get Whipsawed: What Does It Mean For Stocks?

In this video, Ira Epstein reviews the day's trading in various SPDR-ETF markets for the trading day that ended, Friday, April 26.

SPDR ETF Report For Friday, April 26

With all the news flying around, we have found incredible confidence in our trading strategies by following the technical picture.

Can Semiconductors Pull Off Another Sustained Rally?

Silver cleared $26 but for only 3 weeks. Then it gapped lower in early May 2023 and did not clear that level ($26) again for a year.