Bank Stock Roundup: Capital Plans Get Fed's Nod; Citi & Wells Fargo In Focus
Zacks Investment Research | Jul 01, 2016 02:14AM ET
Concerns over the Brexit fallout continued to weigh on the banking stocks, but the major banks witnessed a bullish trend over the last five trading sessions. This was primarily due to the Fed’s approval of the banks’ 2016 capital plans, reflecting stability in the banking system to a great extent.
This news significantly boosted investors’ confidence in the banking stocks. Nevertheless, concerns related to global macro issues remained an overhang.
With macro concerns less likely to ease any time soon, banks will have to undertake more defensive steps to boost profitability. Over the last five days, we saw banks divesting non-core operations to prudently manage business and also expanding into newer areas to expand revenue sources.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.