• FREE: Elections Stock Picks
Newsletter
AlertsPicks
Free Sms Alerts
  • Home
  • Market
  • Business
  • Small Cap Stocks
  • Featured CompaniesHot
    Ray Dalio calls upcoming U.S. election the most consequential of his lifetime

    Ray Dalio calls upcoming U.S. election the most consequential of his lifetime

    Hello world!

    US Commodities Regulator Beefs Up Bitcoin Futures Review

  • Weekly Stock Picks
No Result
View All Result
  • Home
  • Market
  • Business
  • Small Cap Stocks
  • Featured CompaniesHot
    Ray Dalio calls upcoming U.S. election the most consequential of his lifetime

    Ray Dalio calls upcoming U.S. election the most consequential of his lifetime

    Hello world!

    US Commodities Regulator Beefs Up Bitcoin Futures Review

  • Weekly Stock Picks
No Result
View All Result
AlertsPicks
No Result
View All Result
Home Business

These bank stocks are cheap and expected to rally

admin by admin
July 10, 2024
in Business
Reading Time: 1 min read
0
These bank stocks are cheap and expected to rally
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT

Related articles

Connecticut’s Congress members targeted with bomb threats on Thanksgiving

Connecticut’s Congress members targeted with bomb threats on Thanksgiving

November 28, 2024
Biden says Trump’s tariff threat against Canada and Mexico is ‘counterproductive’

Biden says Trump’s tariff threat against Canada and Mexico is ‘counterproductive’

November 28, 2024


These bank stocks are cheap and expected to jump, according to CNBC Pro. The banking industry is in focus ahead of the second-quarter earnings season, set to kick off Friday with reports from major institutions Citigroup, JPMorgan Chase and Wells Fargo. Results from Bank of America, Goldman Sachs and Morgan Stanley are due out next week. Regional banking stocks will also be in the spotlight. While shares of larger banks have remained resilient, smaller institutions have struggled following the collapse of Silicon Valley Bank in March 2023. The SPDR S & P Regional Banking ETF (KRE) has dropped about 7% in 2024, far behind the S & P 500, which has rallied 17%. Given this, CNBC Pro surfaced banks reporting this week and next that are looking cheap, and are poised to jump. These firms are members of the KBW Nasdaq Bank Index. They have a forward price-to-earnings ratio of 10.7 or less, meaning their forward earnings are projected to be below the overall KBW. Meanwhile, the average consensus suggests these names have upside of 15% or more to their price targets. Stock data was current as of Monday’s close. Here are those names. U.S. Bancorp surfaced on the screen. The bank stock has underperformed this year, down more than 7%. It’s also unloved by the Street, with just 32% of analysts covering the stock giving it a buy rating. But it’s expected to surge 19% to its consensus price target, and has a forward P/E of 10.6. Additionally, shares of U.S. Bancorp on Tuesday crossed above its 200-day moving average, indicating an upward trend in the stock. First Horizon has risen this year, notching an 8% advance. The stock is expected to gain 17% from here, and looks relatively cheap with its 10.1 forward P/E. In May, Stephens initiated coverage of the bank with an overweight rating, saying it’s “well positioned for the current higher for longer interest rate environment” and has been “unduly discounted. Western Alliance shares have underperformed this year, down 6%. However, the stock is a consensus buy among analysts, and is expected to rise 23% from here. It has a forward P/E of just 8.4. East West Bancorp and State Street also made the list.

Share76Tweet47
ADVERTISEMENT

Related Posts

Connecticut’s Congress members targeted with bomb threats on Thanksgiving

Connecticut’s Congress members targeted with bomb threats on Thanksgiving

by admin
November 28, 2024
0

The US Capitol building in Washington, DC, on November 24, 2024. Daniel Slim | Afp | Getty ImagesMost of Connecticut's congressional...

Biden says Trump’s tariff threat against Canada and Mexico is ‘counterproductive’

Biden says Trump’s tariff threat against Canada and Mexico is ‘counterproductive’

by admin
November 28, 2024
0

U.S. President Joe Biden delivers remarks from the Rose Garden of the White House in Washington, U.S., November 26, 2024. Nathan...

Thanksgiving travel snarled by coast-to-coast storm bringing rain and snow

Thanksgiving travel snarled by coast-to-coast storm bringing rain and snow

by admin
November 28, 2024
0

People enter LaGuardia Airport (LGA) on one of the busiest travel days of the year on November 26, 2024 in...

Ferrari appears remarkably unfazed by Trump’s tariff threats

Ferrari appears remarkably unfazed by Trump’s tariff threats

by admin
November 28, 2024
0

Workers on the production line at the new Ferrari NV E-building factory in Maranello, Italy, on Friday, June 21, 2024. Francesca...

Musk, Ramaswamy pitch DOGE to GOP leaders on Capitol Hill

Musk, Ramaswamy pitch DOGE to GOP leaders on Capitol Hill

by admin
November 27, 2024
0

U.S. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket...

Load More

Recent Posts

  • Connecticut’s Congress members targeted with bomb threats on Thanksgiving
  • Biden says Trump’s tariff threat against Canada and Mexico is ‘counterproductive’
  • Thanksgiving travel snarled by coast-to-coast storm bringing rain and snow
  • Ferrari appears remarkably unfazed by Trump’s tariff threats
  • Musk, Ramaswamy pitch DOGE to GOP leaders on Capitol Hill
Connecticut’s Congress members targeted with bomb threats on Thanksgiving
Business

Connecticut’s Congress members targeted with bomb threats on Thanksgiving

by admin
November 28, 2024
Biden says Trump’s tariff threat against Canada and Mexico is ‘counterproductive’
Business

Biden says Trump’s tariff threat against Canada and Mexico is ‘counterproductive’

by admin
November 28, 2024
Thanksgiving travel snarled by coast-to-coast storm bringing rain and snow
Business

Thanksgiving travel snarled by coast-to-coast storm bringing rain and snow

by admin
November 28, 2024
Ferrari appears remarkably unfazed by Trump’s tariff threats
Business

Ferrari appears remarkably unfazed by Trump’s tariff threats

by admin
November 28, 2024
Musk, Ramaswamy pitch DOGE to GOP leaders on Capitol Hill
Business

Musk, Ramaswamy pitch DOGE to GOP leaders on Capitol Hill

by admin
November 27, 2024
Financials are best performing stocks of 2024. One corner could outperform
Business

Financials are best performing stocks of 2024. One corner could outperform

by admin
November 27, 2024
PCE inflation October 2024:
Business

PCE inflation October 2024:

by admin
November 27, 2024
Donald Trump Jr. joins drone maker Unusual Machines advisory board
Business

Donald Trump Jr. joins drone maker Unusual Machines advisory board

by admin
November 27, 2024
Why there are few generative AI gadgets this holiday season
Business

Why there are few generative AI gadgets this holiday season

by admin
November 27, 2024
Homebuyer demand for mortgages jumps 12%, after first interest rate drop in over 2 months
Business

Homebuyer demand for mortgages jumps 12%, after first interest rate drop in over 2 months

by admin
November 27, 2024
Trump tariffs threaten to hobble Slovakia’s thriving car industry
Business

Trump tariffs threaten to hobble Slovakia’s thriving car industry

by admin
November 27, 2024

The Kobeissi Letter Follow

Official X account for The Kobeissi Letter, an industry leading commentary on the global capital markets. Email us: support@thekobeissiletter.com

KobeissiLetter
Retweet on Twitter The Kobeissi Letter Retweeted
kobeissiletter The Kobeissi Letter @kobeissiletter ·
27 Nov

The Fed's worst nightmare is officially here:

Today's data confirms ALL 3 inflation metrics are back on the rise.

For the first time since February 2022, Core CPI, PCE and PPI inflation are now rising at the SAME time.

Did the Fed spark a new wave of inflation?

(a thread)

Reply on Twitter 1861858357440651714 Retweet on Twitter 1861858357440651714 994 Like on Twitter 1861858357440651714 4994 Twitter 1861858357440651714
kobeissiletter The Kobeissi Letter @kobeissiletter ·
8h

You can’t make this up:

US personal savings have just been revised down by a MASSIVE $140 billion for 2024.

The savings rate for September was revised to 4.1% from the 4.6% initially reported in October.

The rate for August was adjusted down to 4.4% from 4.8% reported last… https://x.com/i/web/status/1862249594387894694

Reply on Twitter 1862249594387894694 Retweet on Twitter 1862249594387894694 124 Like on Twitter 1862249594387894694 619 Twitter 1862249594387894694
kobeissiletter The Kobeissi Letter @kobeissiletter ·
13h

BREAKING: Investors bought just 16% of homes sold in the US in Q3 2024, the lowest share in 4 years.

This is ~5 percentage points below the record high seen in Q1 2022.

As a result, market share held by investors has declined toward pre-pandemic levels seen in 2019.

In total,… https://x.com/i/web/status/1862175353017602083

Reply on Twitter 1862175353017602083 Retweet on Twitter 1862175353017602083 94 Like on Twitter 1862175353017602083 679 Twitter 1862175353017602083
Retweet on Twitter The Kobeissi Letter Retweeted
kobeissiletter The Kobeissi Letter @kobeissiletter ·
27 Nov

The Fed's worst nightmare is officially here:

Today's data confirms ALL 3 inflation metrics are back on the rise.

For the first time since February 2022, Core CPI, PCE and PPI inflation are now rising at the SAME time.

Did the Fed spark a new wave of inflation?

(a thread)

Reply on Twitter 1861858357440651714 Retweet on Twitter 1861858357440651714 699 Like on Twitter 1861858357440651714 3370 Twitter 1861858357440651714
Load More
AlertsPicks

© AlertsPicks.com

Navigate Site

Follow Us

No Result
View All Result
  • Home
  • Market
  • Business
  • Small Cap Stocks
  • Macros Calendar
  • Stock Picks

© AlertsPicks.com