23 stocks with upside after Silicon Valley Bank collapse: BofA

Bank of America thinks that worries about banks — especially smaller ones — are well-founded.

"The events of the last few days are likely to worsen the funding cost pressure that the industry was already facing," Poonawala wrote."No bank is immune, but this pressure will likely be most pronounced among banks with a larger mix of rate-sensitive customers." "Higher-for-longer interest rates pose significant risk to the outlook for bank EPS in the form of increased pressure on net interest margins, slowing loan growth, and worsening credit quality," Poonawala wrote.Recent bank collapses led analysts at Bank of America to cut their regional bank price targets by an average of 14% due to heightened earnings risk and the lower valuations they'll have going forward.

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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
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