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The Federal Reserve may raise interest rates from their historic lows of 0.25% toward their historical average of 5%.
The Charles Schwab Corporation
TD Ameritrade Holding Corporation
Fifth Third Bancorp
E*TRADE Financial Corporation
SVB Financial Group
Regions Financial Corporation
Zions Bancorporation, National Association
Prosperity Bancshares, Inc.
East West Bancorp, Inc.
First Financial Bankshares, Inc.
BOK Financial Corporation
Glacier Bancorp, Inc.
International Bancshares Corporation
Independent Bank Group, Inc.
Hanmi Financial Corporation
Regions Financial (RF) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
E*TRADE Financial Corporation (NASDAQ: ETFC) today announced results from the most recent wave of StreetWise, the E*TRADE quarterly tracking study of experienced investors. Results indicate investors are bullish on the market but have a wary economic outlook:
Schwab Intelligent Portfolios Premium wins Hybrid Advice Offering category in Aite Group’s 2020 Digital Wealth Management Impact Innovation Awards.
First Financial (FFIN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Stocks of several regional banks fell by more than 35% in the first half of 2020, according to data provided by S&P Global Market Intelligence. In the first half of March, the Fed cut the target federal funds interest rate twice: a 50 basis point cut on March 3, followed by a 100 basis point cut on March 15.
E*TRADE Financial Corporation (NASDAQ: ETFC) today announced that it will report its second quarter 2020 financial results after the close of the US financial markets on Thursday, July 23. The Company will file its standard earnings press release and, in lieu of a conference call, will post supplementary materials on https://about.etrade.com.
As big banks gear up for earnings season, many investors are anticipating the worst quarter for the banks since the financial crisis. Yahoo Finance’s Brian Cheung joins The Final Round panel to break down the details.
We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]
LOS ANGELES, July 10, 2020 -- Hanmi Financial Corporation (Nasdaq: HAFC) (“Hanmi”), the holding company for Hanmi Bank, today announced that it will report second quarter 2020.
Shares of KeyCorp Inc (NYSE: KEY) could underperform peers due to the company's greater risk of a dividend cut and higher exposure to industries facing risk of a default in a coronavirus-led downturn, according to BofA Securities.The KeyCorp Analyst: Erika Najarian downgraded KeyCorp from Neutral to Underperform and lowered the price target from $15 to $12.The KeyCorp Thesis: The language of the Fed's income payout test appears focused on the third quarter of 2020, Najarian said in the Friday downgrade note. (See her track record here.)Although KeyCorp has already declared its third-quarter dividend, the Fed's instructions implying that it will revisit the income test for this quarter means that a dividend cut could still be in the offing, the analyst said. The new income test on dividends requires banks to keep quarterly earnings at a level that can support a dividend payout of 19 cents per share. This could create an overhang on KeyCorp's stock due to concerns over its levels of reserves, she said. The new income test also requires banks to "aggressively and appropriately build reserves," which puts KeyCorp's ability to earn dividend at risk, Najarian said. The analyst reduced the earnings estimates for 2020 and 2021 from 70 cents per share to 46 cents per share and from $1 per share to $1.24 per share, respectively.KEY Price Action: Shares of KeyCorp were up 2.9% at $11.34 at last check.Related Links:P/E Ratio Insights for KeyCorp10 Biggest Price Target Changes For FridayLatest Ratings for KEY DateFirmActionFromTo Jul 2020B of A SecuritiesDowngradesNeutralUnderperform Jun 2020Morgan StanleyMaintainsEqual-Weight May 2020ScotiaBankDowngradesSector OutperformSector Perform View More Analyst Ratings for KEY View the Latest Analyst Ratings See more from Benzinga * The Numbers Behind Peloton's Strong Quarter * Keurig Dr Pepper Could Outperform Even In A Recession, Goldman Sachs Says In Upgrade * BofA Raises Levi Strauss Target On Healthy Retail Recovery(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Friday Market Open) It looks like investors might be in the mood to take some risk off the table as they close out a week where coronavirus cases have continued to surge, increasing worry about an economic recovery.There may also be some caution as corporate earnings season gets into higher gear next week and corporate profits are expected to show a big hit from the effect of the coronavirus.Amid the risk-off mood, buying interest in U.S. government debt increased. That pushed yields lower and could make for rocky trading in bank stocks today ahead of earnings reports next week. As an aside, it could be interesting to see whether money ends up coming out of bonds and goes back into stocks as investors look for yield if the rate on the 10-year Treasury falls to 0.5%. Looking Ahead Toward Bank Earnings Next Week Earnings season gets into higher gear Tuesday with several major banks reporting. JP Morgan Chase & Co. (NYSE: JPM) is just one of the major U.S. banks reporting Q2 earnings Tuesday morning. Results from Wells Fargo and Company (NYSE: WFC) and Citigroup, Inc. (NYSE: C) also are due to hit the wires. Analysts expect C and JPM to remain profitable in Q2, but project a slight loss for WFC.While no sector is immune to the virus, few arguably have as much exposure as Financials. That was reflected in Q1 when most of the big banks took large provisions for credit losses, hurting their profitability. The overriding question heading into this earnings season is whether the banks decide to add substantially to those provisions or start slicing them a bit. Their actions could say a lot about how they see the reopening taking shape. Even if these provisions ease in Q2, they're likely to continue to weigh on banks' profitability.The banking sector is feeling the heat, and analysts' expectations are low going in. Earnings for banks in the S&P 500 are expected to fall a cumulative 48.3% in Q2, ahead of only four other sectors, according to research firm CFRA.Getting back to today's action, investors were also seeking the relative safety of gold and selling often-volatile crude oil. That's pretty typical activity when risk appetite wanes. Another thing that seemed to be weighing on investors' minds was news out of China that Beijing said it will retaliate after the United States put sanctions on Chinese officials over treatment of minorities. While the tit-for-tat moves are nowhere near as market-affecting as tariffs have been, investors and traders are still sensitive to U.S.-China relations after the bruising trade war that took a pause with a phase one deal earlier this year.In economic news this morning, producer price data unexpectedly fell. The producer price index fell 0.2% month-on-month in June while the core index dropped 0.3%. A Briefing.com consensus had expected the headline producer price index to show 0.4% monthly growth for June and a core print of 0.1% growth. If the economy were doing well, a dip in inflation would probably be welcome. But with the economy on the backfoot, falling prices seem to be a sign of economic weakness.Tech Stocks Continue Strong Performance On Thursday, outside of the tech and consumer defensive sectors, news that coronavirus cases continued to rise sapped optimism across the board. While the tech-heavy Nasdaq Composite (COMP) closed at another record high, the S&P 500 Index (SPX) and Dow Jones Industrial Average ($DJI) lost ground.On a day when people were worried about the economic reopening, you might have expected to see the Consumer Staples sector to do fairly well, both as a generally defensive play and on expectations of people buying more household necessities in case they have to stay at home more during the resurgence.But it's interesting to see the Information Technology sector do relatively well. Tech has traditionally been viewed as a cyclical sector, which tends to fall on bad economic news. But with Microsoft Corporation (NASDAQ: MSFT), Apple, Inc. (NASDAQ: AAPL), Alphabet, Inc. (NASDAQ: GOOGL), and heavily tech-oriented Amazon.com, Inc. (NASDAQ: AMZN) now among the largest companies in the world, their growth-to-value transition has given them a safety appeal to many investors, helping give them market leadership on days like Thursday. In addition to the evolution of tech and tech-related companies, some of the push into the tech sector is also likely coronavirus related. With the threat of more people having to stay home for longer if the economy can't get back up to speed as quickly as hoped, it seems that could continue being a boon for computer and internet related companies that help make possible remote learning and working as well internet-based entertainment.More Stock Optimism Among Younger Investors There has been a narrative in the media that retail investors have been piling into stocks willy nilly. But the reality appears to be more nuanced.While the total equities exposure TD Ameritrade clients have been willing to take has been on the rise, according to the June Investor Movement Index® (IMXSM), not everyone has been buying with both hands.Historically speaking, the IMX - which is TD Ameritrade's proprietary, behavior-based index aggregating Main Street investor positions and activity to measure what investors actually were doing and how they were positioned in the markets - is toward the lower end of its readings. An interesting wrinkle, however, is that millennial clients have increased their exposure to the market at a faster rate than traditional clients. It seems that there is some youthful optimism about the economy that might be related to younger people being less dramatically harmed by COVID-19.CHART OF THE DAY: AN INVERSE CORRELATION. It's normal to see a chart showing a rising gold price (candlestick) and a falling 10-Year Treasury Note Yield Index (purple line). Treasury yields fall as people buy government debt for a safe haven. Such buying also helps gold prices. But as Treasury yields remain ultra low, that also reduces the opportunity costs for holding gold, which doesn't pay interest. It seems likely that low interest rates will continue helping support gold, especially as we come into an uncertain U.S. election. Data source: CME Group, Cboe Global Markets. Chart source: The thinkorswim® platform from TD Ameritrade. For illustrative purposes only. Past performance does not guarantee future results. The Bad Gets Less Bad: In economic news Thursday, weekly jobless claims came in less than expected, helping offset some of the negative market sentiment. Initial unemployment claims for the week ended July 4 showed an addition of 1.314 million to state unemployment ranks, less than a Briefing.com consensus expectation of 1.35 million. Perhaps more importantly, it continued the trend of a decreasing number of new weekly claims. "The key takeaway from the report is that it suggests things are less bad on the job loss front, but less bad is clearly still a long way from good for both initial claims and continuing claims," Briefing.com said.Forecasting a Smaller Q3 Rebound: A new economic forecast from a major bank projects that the economy will bounce back sharply in Q3, but not as sharply as previously thought. It won't come as a surprise to anyone that the domestic economy contracted in Q2 - when retail sales, industrial production, and non-farm employment fell massively. Perhaps a more pressing question for Wall Street is what the economy might do during the Q3, especially as the coronavirus resurgence has complicated reopening activities. In a note Thursday, Wells Fargo Securities said it thinks real GDP will grow at a roughly 18% annualized rate during Q3. That's a strong rate but lower than the 24% the bank had previously projected because of the slowed reopening process. Still, growth of 18% would be a big step in the right direction. "It appears that the economy entered the third quarter with significant momentum, albeit from a low base," the note said.Airline Traffic Continues To Increase: The number of air passenger numbers in the United States are still a fraction of what they were before the pandemic, but they are on the rise. Transportation Security Administration data from Wednesday showed total traveler throughput numbers at checkpoints was 632,498, after sinking below 90,000 in April. For some perspective, that new number is a little over 25% of what travel numbers were the previous year. Airlines have become one way that market participants have been trying to get exposure to the reopening economy at what could be bargain prices if things eventually get back to relative normalcy. But the timeline of that last bit has increasingly come into question. TD Ameritrade clients have been net buyers of Southwest Airlines Co. (LUV) and American Airlines Group, Inc. (NASDAQ: AAL) on weakness in the two airlines' stocks, according to a TD Ameritrade summary of information from the June IMX. "Both stocks traded higher early in the period on hopes of an economic recovery and increased demand but fell as the period progressed and COVID-19 cases increased in the U.S.," the summary said. Good Trading, JJ @TDAJJKinahanTD Ameritrade® commentary for educational purposes only. Member SIPC. See more from Benzinga * Walgreen's Shares Fall As Earnings Miss, But Costco Same-Store Sales For June Impress * Waiting For Earnings: Bed, Bath & Beyond, Walgreens Straight Ahead Before Banks Next Week * How Did The Comms Sector Play Through Q2 And What's Ahead?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]
SVB Financial Group (NASDAQ: SIVB) will report its financial results for the quarter ended June 30, 2020, on Thursday, July 23, 2020 after the close of the U.S. stock market.
It's good news for brokerages like Robinhood, Charles Schwab, and TD Ameritrade.
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
KeyCorp (NYSE: KEY) announced today that its Board of Directors declared the following dividends for the third quarter of 2020:
East West Bancorp, Inc. ("East West" or the "Company") (Nasdaq: EWBC), parent company of East West Bank, the financial bridge between the United States and Greater China, will release second quarter 2020 financial results before the market opens on Thursday, July 23, 2020.
Yahoo Finance's Jared Blikre joins Myles Udland to break down the day's price action in stocks as well as a short in Fifth Third Bancorp (FITB), a Yahoo Finance Premium Investment Idea.
The Charles Schwab Corporation announced that it has scheduled a Summer Business Update for institutional investors on Tuesday, July 21st.
Schwab announced an integration with Google, enabling Google Assistant users to easily and securely access certain Schwab account & portfolio updates