Bank analysts reshuffle ratings in response to seismic shifts in industry

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 97%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Demise of Silicon Valley Bank and Signature Bank and Monday's sharp drop in shares of First Republic Bank lead analysts to reshuffle ratings on bank stocks.

With the demise of Silicon Valley Bank and Signature Bank and Monday’s sharp drop in shares of First Republic Bank, analysts are reshuffling their ratings on bank stocks.

The moves come amid rapid developments in the banking sector, with the U.S. Federal Reserve announcing the new Bank Term Funding Program to help banks avoid the pitfalls of selling securities at loss, which was a trigger for the bank run at Silicon Valley Bank, a unit of SVB Financial Group SIVB .

Other stocks in the ratings spotlight include PNC Financial Services Group Inc. PNC , Regions Financial Corp. RF , JPMorgan Chase & Co. JPM , Wells Fargo & Co. WFC and Comerica Inc. CMA . Regions Financial could be “the clear winner due to granular deposit franchise,” along with Comerica, which “offers the best risk/reward,” Horowitz said. PNC stock fell 2.2% in premarket trading.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

They shouldn't of moved shit it's only adding fuel to the fire

Revising targets upwards and handing out buy ratings like candy on Halloween - sh** is criminal

Go figure...

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in CA

Canada Canada Latest News, Canada Canada Headlines