Bank stocks rise as Wall Street panic subsides

. But analysts said other regional banks are less vulnerable because they have a more diverse customer base than SVB, which overwhelmingly catered to tech startups and venture capital firms. For banks like First Republic, the sell-off by investors amounted to a"dramatic overreaction" to the industry turmoil, according to JPMorgan analysts.

"With [First Republic] having a strong capital/liquidity position and diversified deposit base, we expect customers to return in mass to this port in the storm," they wrote in a research note. Alexander Yokum, an analyst with CFRA Research, told investors in a report that First Republic is a"resilient bank" and isn't at risk of being taken over by regulators.

The collapse of SVB, which for decades played a central role in Silicon Valley by funding innovative new companies, marked the largest failure of a financial institution since Washington Mutual crashed in Dan Ives, an analyst at Wedbush Securities, thinks SVB closure will have a bigger impact on California's startup scene than on the broader banking industry.

"The Cinderella story is over for SVB and the tech VC/startup community with this dark crash ending," Ives said in a research note."While venture debt lines and credit was much more easy to attain by the tech-friendly SVB, now startups face the arduous task of getting loans and banking relationships with large money-center banks or other regionals that will greatly scrutinize funding with a lab microscope.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Panic subsides on Wall Street as regional banks rebound | CNN BusinessAfter a few days of panic over the health of America's banking system, Wall Street appeared to take a deep breath Tuesday. RT SVBank NATO WEF took SVBBank branches fast and cheap. FederalReserve diabolical plans. Now nato access to usa technology. Fed scheme MBS low value suspicious SVB spend 80 billion? zerohedge KimDotcom It's reassuring to see Wall Street take a deep breath and collectively exhale as the situation stabilizes.
La source: CNN - 🏆 4. / 95 Lire la suite »

Stock Market Today: Regional Bank Shares Tumble After Regulators Announce Silicon Valley Bank PlanRegional bank shares slid premarket and investors piled into the safety of bonds after regulators tried to limit the damage from Silicon Valley Bank's collapse creditscom creditscom creditscom
La source: WSJ - 🏆 98. / 63 Lire la suite »

Bank stocks plunge and gold rises as Wall Street deals with uncertaintyThe most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy during the 2008 financial crisis.
La source: cleveland19news - 🏆 70. / 68 Lire la suite »

Bank stocks plunge and gold rises as Wall Street deals with uncertaintyThe most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy during the 2008 financial crisis.
La source: wsfa12news - 🏆 338. / 59 Lire la suite »

Bank stocks drop and S&P 500 swings as Wall Street shakesNEW YORK (AP) — Wall Street is worried about what may be next to topple following the second- and third-largest bank failures in U.S. history, and stocks are swinging sharply Monday as investors scramble to find someplace safe to park their money. Poor rich people. I here Switzerland is nice this time of year. You can even evade taxes there. 😭😭✋🏿💀💀✋🏿✋🏿Goddess has been working on ending the 1% since 2021😭😭✋🏿✋🏿💀
La source: AP - 🏆 728. / 51 Lire la suite »