에 대한 최신 뉴스 Invesco KBW Bank ETF (NASDAQ:KBWB)

Invesco KBW Bank ETF

Financial Services

The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is a modified-market capitalization-weighted index of companies primarily engaged in U.S. banking activities, as determined by the index provider. The underlying index is designed to track the performance of large national U.S. money centers, regional banks, and thrift institutions that are publicly traded in the U.S. The fund is non-diversified.

Goldman Sachs International

Jpmorgan Chase & Co.

Morgan Stanley

Bank Of America Corp.

Wells Fargo & Co.

Truist Financial Corp Common Stock Usd5.0

Pnc Financial Services Group Inc/The

M&t Bank Corp.

State Street Corp.

Fifth Third Bancorp

Citigroup Inc.

Bank Of New York Mellon Corp.

Capital One Financial Corp.

Us Bancorp

Donald Trump

News

BANF

FITB

FTXO

GGAL

GSIB

KBWB

도널드 트럼프 행정부가 대형은행 규제를 완화하는 제안을 거의 완료했다. 이에 월가 대형은행들은 대체로 보완 레버리지 비율(SLR)이 낮아져 자산 대비 자본 보유량을 줄일 수 있게 될 것으로 예상하고 있다.무슨 일 있었나: 애널리스트들은 트럼프 행정부의 대형 은행 규제, 특히 SLR 완화 추진이 은행에 도움이 되고 더 광범위한 경제 성장을 촉진할 수 있다는 데 대체로 동의한다. 

트럼프 행정부의 대형은행 규제 완화 속 투자자가 고려할 수 있는 주식 및 ETF

banks-ai4

Government

Large Cap

Regulations

Sector ETFs

Econ #s

Federal Reserve

ETFs

연방준비제도(연준)는 주요 미국 은행들의 규제 부담을 완화하고 있으며, 기후 스트레스 테스트 프로그램을 종료하고 분석가들이 지난해보다 더 유리하다고 보는 2025년 스트레스 테스트 시나리오를 발표했다.

연준, 은행 스트레스 테스트 완화, 기후 리스크 제외: 금융주식 상승률 최고치 돌파

Images of buildings

Earnings

Earnings Beats

SCHW

뱅크 오브 아메리카(NYSE:BAC), 찰스 슈왑(NYSE:SCHW) 및 모건 스탠리(NYSE:MS)는 화요일에 2분기 실적을 발표할 것으로 예상된다. 벤징가 프로의 데이터에 따르면 분석가들은 뱅크 오브 아메리카(BofA)가 이번 분기에 225억 2천만 달러의 매출과 함께 80센트의 주당 순이익(EPS)을 기록할 것으로 예상하고 있다. 1년 전 이 은행은 EPS 88센트, 매출 253억 달러를 보고했다.

뱅크 오브 아메리카, 찰스 슈왑, 모건 스탠리: 화요일 2분기 실적 발표 예정

As Donald Trump&#8216;s administration nears completion of a proposal to ease big bank rules, Wall Street&#8217;s megabanks are largely expected to cheer the lower supplementary leverage ratio (SLR), allowing them to hold fewer capital reserves against their assets.
What Happened: Analysts largely agree that the Trump administration's push to ease big bank rules, particularly the SLR, is a boon for banks and could stimulate broader economic growth.
Gennadiy Goldberg, the head of U.S. rates strategy at TD Securities, <a href="https://www.politico.com/news/2025/05/31/trump-administration-prepares-to-ease-big-bank-rules-00377347">told </a>Politico that easing capital rules for the banks will free the capital to buy more U.S. Treasuries
However, Phillip Basil, Better Markets&#8217; director of economic growth and financial stability, told Politico that lowering big banks&#8217; capital requirements heightens financial stability risks, accusing the banking industry of exploiting recent Treasury market turmoil as a pretext to push for long-sought regulatory relief.
Meanwhile, Kepp Loeffler, the administrator of the U.S. Small Business Administration, said that Small businesses &#8220;can win with a level playing field – ESPECIALLY combined with tax cuts and deregulation.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Small businesses finally have a fighter in the White House who won't keep allowing unfair trade practices to crush their industries and outsource their jobs. They know they can win with a level playing field – ESPECIALLY combined with tax cuts and deregulation. <a href="https://t.co/APEVgiLIb6">pic.twitter.com/APEVgiLIb6</a>
&mdash; Kelly Loeffler (@SBA_Kelly) <a href="https://twitter.com/SBA_Kelly/status/1927856861576831355?ref_src=twsrc%5Etfw">May 28, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/news/politics/25/05/45691310/trump-tariff-uncertainty-enters-courts-experts-say-investors-should-expect-elevated-turbulence-amid-the-bullish-gridlock">Trump Tariff Uncertainty Enters Courts: Experts Say ‘Investors Should Expect Elevated Turbulence' Amid The Bullish ‘Gridlock'</a>
Why It Matters: Here a list of some banking stocks that investors could consider.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Stocks</td>
<td>Year-To-Date Performance</td>
<td>One-Year Performance</td>
</tr>
<tr>
<td>Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)</td>
<td>-0.36%</td>
<td>10.66%</td>
</tr>
<tr>
<td>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)</td>
<td>10.00%</td>
<td>30.81%</td>
</tr>
<tr>
<td>Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)</td>
<td>4.43%</td>
<td>31.97%</td>
</tr>
<tr>
<td>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</td>
<td>2.60%</td>
<td>31.43%</td>
</tr>
<tr>
<td>Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>)</td>
<td>7.69%</td>
<td>21.64%</td>
</tr>
<tr>
<td>Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>)</td>
<td>6.54%</td>
<td>26.02%</td>
</tr>
<tr>
<td>Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>)</td>
<td>-9.44%</td>
<td>3.64%</td>
</tr>
<tr>
<td>Grupo Financiero Galicia SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GGAL#NASDAQ">GGAL</a>)</td>
<td>-15.63%</td>
<td>63.06%</td>
</tr>
<tr>
<td>BancFirst Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BANF#NASDAQ">BANF</a>)</td>
<td>6.55%</td>
<td>46.67%</td>
</tr>
</tbody>
</table>
</figure>
Here are some banking exchange-traded funds to look out for.
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<table class="has-fixed-layout">
<tbody>
<tr>
<td>ETFs</td>
<td>Year-To-Date Performance</td>
<td>One-Year Performance</td>
</tr>
<tr>
<td>Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>)</td>
<td>0.51%</td>
<td>22.70%</td>
</tr>
<tr>
<td>SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>)</td>
<td>-3.11%</td>
<td>16.44%</td>
</tr>
<tr>
<td>First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)</td>
<td>-1.92%</td>
<td>17.65%</td>
</tr>
<tr>
<td>Themes Global Systemically Important Banks ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSIB#NASDAQ">GSIB</a>)</td>
<td>25.20%</td>
<td>36.01%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell on Friday. The SPY was down 0.11% at $589.39, while the QQQ declined 0.16% to $519.11, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Monday, the futures of the S&amp;P 500, Dow Jones and Nasdaq 100 indices were trading lower.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/25/05/45688628/dells-ai-server-orders-hit-record-12-1-billion-in-q1-backlog-swells-to-14-4-billion-exceptionally-strong-demand">Dell's AI Server Orders Hit Record $12.1 Billion In Q1, Backlog Swells To $14.4 Billion: ‘Exceptionally Strong Demand'Jim Cramer Attributes Nvidia's Premarket Dip To ‘Meme Money' Frenzy: ‘Just Small Motivated Shareholders Knocking It Down'</a></li>
</ul>
Photo courtesy: Shutterstock

Trump Administration Set To Ease Big Bank Rules In Major Rollback Since 2008 Crisis: Here Are The Stocks And ETFs Investors Could Consider

Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) on Thursday disclosed a definitive deal to divest the assets of its rail equipment leasing division to a newly formed joint venture between GATX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATX#NYSE">GATX</a>) and Brookfield Infrastructure Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIP#NYSE">BIP</a>) <a href="https://www.benzinga.com/pressreleases/25/05/b45681881/wells-fargo-enters-into-agreement-to-sell-rail-equipment-assets">for $4.4 billion</a>.
In particular, the joint venture will acquire around 105,000 railcars from Wells Fargo.
The joint venture will initially be owned 30% by GATX and 70% by Brookfield Infrastructure, with GATX retaining the option to <a href="https://www.benzinga.com/pressreleases/25/05/b45682281/gatx-corporation-and-brookfield-infrastructure-to-acquire-wells-fargos-rail-assets">eventually acquire full ownership</a>.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/price-target/25/05/45527790/goldman-sachs-bets-on-jpmorgan-praises-market-share-gains-efficiency">Goldman Sachs Bets On JPMorgan, Praises Market Share Gains, Efficiency</a>
The deal is anticipated to close by the first quarter of 2026 or earlier, pending customary regulatory approvals and closing conditions.
David Marks, Executive Vice President with Wells Fargo Commercial Banking, said, &#8220;This transaction is consistent with Wells Fargo&#8217;s ongoing strategy of simplifying our businesses and focusing on products and services that are core to our clients,&#8221;
Robert C. Lyons, president and chief executive officer of GATX added, &#8220;We will work closely with customers to ensure an efficient transition to GATX&#8217;s commercial and operational platform. The acquisition will enhance GATX&#8217;s fleet diversification, providing additional opportunities to serve our customers. In the first full year after closing, we expect the impact of the transaction to be modestly accretive to earnings per share, with more material contributions thereafter.&#8221;
In April, Wells Fargo reported first-quarter GAAP EPS of $1.39, beating the&nbsp;consensus of $1.34 and revenue of $20.15 billion, which was below <a href="https://www.benzinga.com/news/earnings/25/04/44759629/wells-fargo-doesnt-change-outlook-but-ceo-expects-volatility-and-slower-economic-environment-in-2025" target="_blank" rel="noreferrer noopener">the street view of $20.75 billion</a>.
Also, Wells Fargo unveiled a new $40 billion stock repurchase program, set to commence <a href="https://www.benzinga.com/news/25/04/45073338/wells-fargo-wfc-shares-gain-on-40b-buyback-plan-whats-going-on" target="_blank" rel="noreferrer noopener">after the current&nbsp;buyback&nbsp;concludes</a>.
Investors can gain exposure to the stock via First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>) and Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: WFC shares are trading lower by 0.08% to $74.45 premarket at last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/movers/25/05/45579978/banking-giants-like-jpmorgan-bank-of-america-mull-joint-stablecoin-to-counter-crypto-competition-report" target="_blank" rel="noreferrer noopener">JPMorgan, Bank Of America, And Other Banking Titans Discussing Joint Stablecoin To Tackle Crypto Competition: Report</a></li>
</ul>
Photo by Bumble Dee via Shutterstock

Equities

Asset Sales

GATX

Wells Fargo Sells Rail Leasing Business Assets In $4.4 Billion Deal

Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) shares are trading higher Tuesday after the firm disclosed plans to open over 150 new locations across 60 <a href="https://www.benzinga.com/pressreleases/25/05/n45377599/bofa-to-open-150-financial-centers-by-2027-investing-over-5-billion-in-its-network-since-2016" target="_blank" rel="noreferrer noopener">markets by the end of 2027</a>.
The bank expects 40 locations to open this year and another 70 in 2026. Four financial centers are slated for Boise, Idaho, with the first location scheduled to open in nearby Nampa on June 9, 2025.
Recently, the company inaugurated a new flagship financial center at 2 Bryant Park in New York City, which is designed to facilitate connections between clients and financial specialists, among others.
Also Read: <a href="https://www.benzinga.com/25/04/44849372/bank-of-america-analysts-cut-price-target-amid-macro-uncertainty-but-maintain-positive-outlook" target="_blank" rel="noreferrer noopener">Bank Of America Analysts Cut Price Target Amid Macro Uncertainty, But Maintain Positive Outlook</a>
Since 2016, the Charlotte, North Carolina-based bank has invested more than $5 billion in its financial center network through new openings and renovations of existing locations.
In April, Bank of America disclosed that it is ramping up its&nbsp;investment in artificial intelligence, planning to spend $4 billion on AI initiatives over the next year, nearly a third of<a target="_blank" href="https://www.benzinga.com/tech/25/04/44878856/bank-of-america-bets-big-on-ai-with-4-billion-investment-and-its-already-paying-off" rel="noreferrer noopener"> its annual $13 billion tech budget</a>.
Also, in the same month, it reported first-quarter fiscal 2025 net income of $7.4 billion (versus $6.7 billion a year ago) and EPS of $0.90, beating the analyst consensus estimate of $0.81.
Investors can gain exposure to the stock via Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>) and First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>).
Price Action: Bank of America shares are up 1.74% at $44.12 at the last check on Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/25/05/45369770/whos-going-to-buy-2-trillion-worth-of-paper-macro-expert-calls-wall-street-rally-a-headline-sugar-rush-as-treasury-yield-spike-signals-bigger-trouble" target="_blank" rel="noreferrer noopener">&#8216;Who&#8217;s Going To Buy $2 Trillion Worth Of Paper?&#8217; Macro Expert Calls Wall Street Rally A &#8216;Headline Sugar Rush&#8217; As Treasury Yield Spike Signals Bigger Trouble</a></li>
</ul>
Image: Shutterstock

Movers

Bank Of America Bets On Brick-And-Mortar, Expansion Plans Include 60 Markets Worldwide

Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)&nbsp;shares are trading higher on Monday after the&nbsp;company <a target="_blank" href="https://www.benzinga.com/topic/goldman-sachs" rel="noreferrer noopener">reported its&nbsp;first-quarter&nbsp;results</a>.
Revenue of&nbsp;$15.06 billion beat the consensus <a target="_blank" href="https://www.goldmansachs.com/pressroom/press-releases/current/pdfs/2025-q1-results.pdf" rel="noreferrer noopener">of</a> $14.81 billion. Revenue increased by&nbsp;6%&nbsp;year-over-year, reflecting growth in Global Banking &amp; Markets. Net interest income rose to $2.90 billion, up from $1.37 billion a year ago quarter.
Goldman Sachs clocked&nbsp;GAAP EPS of&nbsp;$14.12,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$12.35</a>.
Provision for credit losses was&nbsp;$287 million&nbsp;for the&nbsp;first quarter, lower than $318 million a year ago quarter, reflecting net provisions related to the credit card portfolio.
Segment Revenues:&nbsp;Global Banking &amp; Markets revenues were&nbsp;$10.71 billion, up&nbsp;10%&nbsp;year-over-year. Net revenues from Equity grew&nbsp;27%&nbsp;year-over-year to&nbsp;$4.19 billion, reflecting significantly higher net revenues in intermediation and financing.
Also, net revenues in Fixed Income, Currency, and Commodities (FICC) were&nbsp;$4.40 billion,&nbsp;up&nbsp;2%&nbsp;year-over-year, primarily reflecting higher net revenues in FICC financing.
On the other hand, Investment Banking fees declined 8%&nbsp;year over year to&nbsp;$1.91 billion due to a considerable decline in net revenues in the Advisory business. Investment banking fees backlog increased compared with the end of 2024.
Asset &amp; Wealth Management revenue was&nbsp;$3.68 billion,&nbsp;down 3%&nbsp;year over year. Total Wealth management client assets stood at ~$1.6 trillion.
In the&nbsp;first quarter, total Assets Under Supervision (AUS) saw a net inflow of&nbsp;$24 billion. AUS increased by&nbsp;$36 billion&nbsp;to a record&nbsp;$3.17 trillion in the quarter.
Stock Buyback:&nbsp;In the&nbsp;first quarter, Goldman Sachs repurchased stock worth&nbsp;$4.36 billion. In the quarter, the Board approved a new share buyback program of up to $40 billion.
Dividend: On April 11, 2025, the Board declared a dividend per share of $3.00, payable on June 27, 2025, to shareholders of record as of May 30, 2025.
The Standardized CET capital ratio stood at 14.8%, and the Advanced CET capital ratio increased sequentially to&nbsp;15.5%. The book value per common share increased 2.2% to $344.20.
David Solomon, Chairman and CEO of Goldman Sachs, said, "While we are entering the second quarter with a markedly different operating environment than earlier this year, we remain confident in our ability to continue to support our clients."
On the conference call, CEO Solomon said he expects significant M&amp;A activity throughout the rest of the year.
Investors can gain exposure to the Goldman Sachs stock via&nbsp;Shares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>), and&nbsp;Invesco KBW Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NYSE">KBWB</a>).
Price Action: GS shares are up 2.38% at $505.69 at the last check Monday.
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/04/44784107/us-stocks-likely-to-open-higher-expert-says-the-selling-pressure-is-starting-to-be-exhausted" target="_blank" rel="noreferrer noopener">US Stocks Likely To Open Higher: Expert Says ‘The Selling Pressure Is Starting To Be Exhausted'</a></li>
</ul>
Photo by ioda via Shutterstock

Buybacks

Trading Ideas

iShares Dow Jones US Broker Dealers Index Fund

Goldman Sachs CEO Sees 'Markedly Different Operating Environment' Entering Q2, Announces $40 Billion Stock Buyback

State Street Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>) shares are trading lower premarket on Thursday. The company&#8217;s asset management division, State Street Global Advisors, disclosed a<a href="https://www.benzinga.com/pressreleases/25/04/b44623470/state-street-global-advisors-announces-strategic-partnership-and-investment-in-ethic" target="_blank" rel="noreferrer noopener"> strategic equity investment in </a><a href="https://www.benzinga.com/pressreleases/25/04/b44623470/state-street-global-advisors-announces-strategic-partnership-and-investment-in-ethic" target="_blank" rel="noreferrer noopener">Ethic Inc</a>.
In addition to the investment, SSGA and Ethic have formed a strategic partnership to offer tailored investment solutions at scale for SSGA&#8217;s institutional and financial intermediary clients.
The partnership focuses on developing and managing customized separately managed accounts, model portfolios, and unified managed accounts in collaboration with Ethic and SSGA.
It also aims to provide an interactive experience for advisors and clients, including unique proposal generation, portfolio transition plans, and reporting.
Yie-Hsin Hung, chief executive State Street Global Advisors, said, &#8220;Ethic has seen incredible growth in a short period thanks to industry-leading technology and deep expertise that help advisors deliver portfolios that reflect what matters most to clients. Ethic&#8217;s platform has become a standard-bearer for customization, and we&#8217;re excited to help them reach new audiences.&#8221;
Ethic CEO Doug Scott added, &#8220;With this new funding round and strategic partnership, we&#8217;re excited to be accelerating the adoption of personalized, values-aligned, and tax-smart investing.&#8221;
Investors can gain exposure to the stock via&nbsp;Themes Global Systemically Important Banks ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSIB#NASDAQ">GSIB</a>) and&nbsp;Invesco KBW Bank ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: STT shares are down 3.78% at $86.20 premarket at the last check Thursday.
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<li><a href="https://www.benzinga.com/markets/equities/25/04/44602765/ray-dalios-bridgewater-launches-all-weather-etf-bringing-decades-old-investment-strategy-to-the-public" target="_blank" rel="noreferrer noopener">Ray Dalio&#8217;s Bridgewater Launches &#8216;All-Weather&#8217; ETF, Bringing Decades-Old Investment Strategy To The Public</a></li>
</ul>
Photo: Shutterstock/JHVEPhoto

State Street's Strategic Investment in Ethic Aims to Revolutionize Personalized Portfolios

The Consumer Financial Protection Bureau (CFPB) has been put on ice. Staffers have been told to halt all work, and the agency's Washington headquarters has <a href="https://www.benzinga.com/topic/cfpb">reportedly been shut down</a>. 
While this unprecedented move raises serious concerns about consumer rights, it also presents a potential opportunity for investors. ETFs with significant exposure to banks, payday lenders, and credit reporting agencies may benefit if looser regulations translate into higher profit margins.
Also Read: <a href="https://www.benzinga.com/government/regulations/25/02/43451675/bessent-freezes-consumer-financial-protection-bureau-work-leaving-lawsuits-against-jpmorgan-bank-of-america-capital-one-in-limbo">Bessent Freezes Consumer Financial Protection Bureau Work Leaving Lawsuits Against JPMorgan, Bank Of America, Capital One In Limbo</a>
Banking &amp; Financial Sector ETFs: The Biggest Beneficiaries?
Big banks have frequently clashed with the CFPB over issues ranging from overdraft fees to consumer lending practices. With the watchdog out of commission, major financial institutions could see reduced compliance costs and potentially higher profits. 
Investors looking to capitalize on this regulatory shift might consider ETFs with heavy bank exposure, such as:
<ul>
<li>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>): This fund tracks large U.S. financial institutions, including JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), and Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>). </li>
<li>Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>): This ETF could benefit if regulatory rollbacks allow banks to expand lending operations with fewer restrictions. Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), JPMorgan, Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Bank Of America and Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) are among the top holdings of the ETF.</li>
<li>iShares U.S. Financials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYF#NYSE">IYF</a>): Another broad financial sector play, IYF provides exposure to insurance firms, banks, and capital markets. Among its top holdings are S&amp;P Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>), BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) and Wells Fargo.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/government/regulations/24/12/42479974/us-lenders-file-joint-lawsuit-against-consumer-finance-watchdog-for-capping-overdraft-fees-wells-fargo-jpmorgan-citigroup-stocks-in-focus">US Lenders File Joint Lawsuit Against Consumer Finance Watchdog For Capping Overdraft Fees</a>
FinTech &amp; Alternative Lending: Risky Yet Promising
The CFPB has been a thorn in the side of payday lenders and fintech firms, often cracking down on <a href="https://www.benzinga.com/markets/equities/25/01/42836870/warren-buffetts-berkshire-hathaway-subsidiary-sued-over-unaffordable-loans-2008-style-predatory-loan-approval-tactics">predatory lending practices</a>. With enforcement on hold, companies like LendingClub (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LC#NYSE">LC</a>) may operate with fewer regulatory headaches. That makes fintech-focused ETFs worth watching, such as:
<ul>
<li>Global X FinTech ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FINX#NASDAQ">FINX</a>): This fund invests in innovative financial technology firms that could benefit from a more relaxed regulatory environment. Fidelity National Info (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>) and Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) sit at the top of the portfolio distribution.</li>
<li>iShares US Small Cap Value Factor ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/SVAL#BATS">SVAL</a>): It is an equal-weighted equity index tracking the Russell 2000 Focused Value Select Index which measures the performance of small-cap U.S. companies&nbsp;including LendingClub.</li>
</ul>
<h3 class="wp-block-heading">The Background</h3>
The CFPB, created in the aftermath of the 2008 financial crisis, has been — according to advocates — a necessary watchdog keeping financial institutions in check. 
For example, the CFPB has <a href="https://www.consumerfinance.gov/about-us/blog/twelve-years-of-protecting-consumers-and-honest-businesses/#:~:text=Here%27s%20a%20look%20at%20some,CFPB%20enforcement%20and%20supervision%20work">recovered</a> over $17.5 billion for consumers affected by fraudulent or predatory practices.
It has also <a href="https://www.consumerreports.org/consumer-protection/how-cfpb-changes-could-impact-consumers-a2527371632/?utm_source=chatgpt.com">established</a> rules to limit overdraft fees and reduce credit card late fees, aiming to protect consumers from excessive charges.
Meanwhile, critics — especially from the banking industry (i.e., JPMorgan Chase CEO Jamie Dimon) — argue <a href="https://www.benzinga.com/startups/24/11/42024453/if-youre-in-a-knife-fight-you-better-damn-well-bring-a-knife-jpmorgan-ceo-jamie-dimon-calls-for-a-stand-against-regulation">it&#8217;s a regulatory burden</a>.
Now, with an abrupt directive for staff to ‘stand down' and stop all work, the agency's future is uncertain.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/02/43632056/3-etfs-for-cybersecurity-investors-as-ai-driven-threats-grow">3 ETFs For Cybersecurity Investors As AI-Driven Threats Grow</a></li>
</ul>
Photo: Shutterstock

Broad U.S. Equity ETFs

FINX

iShares Dow Jones US Financial Sector Index Fund

SPGI

SVAL

Regulatory Freeze At CFPB: These ETFs Could Gain As Oversight Weakens

The Federal Reserve is dialing back the regulatory burden on major U.S. banks, ending its climate stress test program and rolling out a 2025 stress test scenario that analysts see as more<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39525918/major-banks-fall-short-in-feds-2024-stress-test-results-the-market-will-view-the-re"> favorable than last year's. </a>
The shift, combined with potential adjustments to capital rules, could offer relief to big banks like Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), and Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), which stand to benefit the most from a more transparent regulatory framework.
<a href="https://www.bloomberg.com/news/articles/2025-02-06/fed-tells-banks-they-won-t-need-to-do-climate-stress-tests?srnd=homepage-americas&amp;sref=TBDibEcD">Bloomberg</a> first reported Thursday that the Fed has closed its Climate Scenario Analysis Exercise, a program that required major bank institutions and others to submit climate-related risk data. The decision marks a reversal from recent years, when regulators sought to gauge how climate risks could affect financial stability.
<h3 class="wp-block-heading">A More Favorable Stress Test Scenario</h3>
On Thursday, Bank of America analysts, including Ebrahim H. Poonawala, said the 2025 stress test scenario appears "broadly better" than last year's, reinforcing their confidence that capital relief is on the way.
The stress test, designed to assess banks' resilience under hypothetical economic downturns, plays a crucial role in setting capital requirements.
Compared to last year&#8217;s adverse scenario, the updated parameters include reduced market volatility, a milder GDP decline, and a smaller drop in commercial real estate prices.
&#8220;Banks should begin to see relief on regulatory capital requirements,&#8221; Bank of America wrote in its report. 
The Fed's latest release provided limited details on specific methodology changes but confirmed that steps will be taken to reduce volatility in stress test results and improve transparency. 
Bank of America indicates this could be a turning point, making regulatory expectations more predictable after more than a decade of post-2008 financial crisis adjustments.
Analysts at Bank of America see Goldman Sachs and Morgan Stanley as the biggest winners, given their capital markets exposure.
&#8220;While relief should be broad-based, capital markets businesses could see&nbsp;relatively greater&nbsp;relief. Buy-rated Goldman Sachs and Morgan Stanley&nbsp;stand to see the largest benefit, in our view,&#8221; analysts wrote.
<h3 class="wp-block-heading">Will Capital Relief Follow?</h3>
A crucial unanswered question is whether the Fed will implement its proposed two-year averaging of stress test results this year. 
In December, the central bank announced plans to smooth out capital requirements by averaging results over two years and allowing public comment on future test scenarios. Yet, the latest release made no mention of when these changes might take effect.
Adding to the momentum for regulatory easing, Federal Reserve Governor Michelle Bowman – widely considered as a potential contender for the Fed&#8217;s Vice Chair of&nbsp;Supervision – said Wednesday that key capital rules should be reconsidered. 
Bowman highlighted the need to review the supplementary leverage ratio and Global Systemically Important Bank surcharges, both of which impact large banks' capital buffers.
"In its current structure, [the stress test] is an opaque test hidden from public scrutiny that is used to establish variable binding capital requirements," Bowman said. 
She called for greater transparency and technical improvements to enhance the test's reliability and credibility.
<h3 class="wp-block-heading">Market Reactions</h3>
Shares of major U.S. banks soared on Thursday, with both the Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) and the Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>) reaching fresh record highs. 
Within the big six banks, Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), outperformed, up 3.7%, followed by JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), up 2.2%. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43534297/january-jobs-report-preview-speculators-bet-on-strong-payroll-surge-yet-economists-predict-a-different-picture">January Jobs Report Preview: Speculators Bet On Strong Payroll Surge, Yet Economists Predict A Different Picture</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Fed Eases Bank Stress Tests, Drops Climate Risks: Financial Stocks Hit Record Highs

JP Morgan analyst Kian Abouhossein shared views on Morgan Stanley&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) fourth-quarter <a target="_blank" href="https://www.benzinga.com/news/large-cap/25/01/43029150/morgan-stanley-q4-earnings-profit-doubles-ceo-calls-it-one-of-strongest-years-aims-for-prudent-dividend-growth" rel="noreferrer noopener">results reported today.</a>
The bank reported an adjusted EPS of $2.22, up from $0.85 a year ago and beating the consensus of $1.70. Revenue of $16.22 billion, up 26% year over year, beat the&nbsp;consensus of $15.03 billion.
The analyst writes that Morgan Stanley&#8217;s Investment Banking performance is strong, with Equity S&amp;T rising 51% year-over-year (JPM estimate +18%) to $3.3 billion, outperforming the U.S. peers.
The analyst also adds that FICC performed well, growing 35% year over year (JPM estimates +19%) versus an average of 25% among its U.S. peers.
With a <a target="_blank" href="https://www.benzinga.com/quote/MS/analyst-ratings" rel="noreferrer noopener">Neutral rating </a>on the stock, the analyst expects Morgan Stanley&#8217;s shares to outperform peers today.
Abouhossein expects mid-to-high single-digit % EPS upgrades to 2025 consensus but this would be partly dependent on earnings conference call.
During the conference call, the analyst anticipates questions regarding Wealth Management NII, the outlook for IB fee growth following optimistic comments from peers.
Also, the analyst expects the bank to provide outlook for share buybacks, which were in line with JP Morgan estimates expectations at $0.75 billion for the fourth quarter.
Investors can gain exposure to the stock via iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: MS shares are up 2.57% at $133.90 at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43031980/big-banks-continue-to-beat-q4-earnings-financial-etf-takes-breather" target="_blank" rel="noreferrer noopener">Big Banks Continue To Beat Q4 Earnings As Financial ETF Takes A Breather</a></li>
</ul>
Image via Shutterstock.

Analyst Color

Analyst Ratings

JP Morgan Analyst Sees Earnings Upside For Morgan Stanley Post-Q4 Beat: Details

Major indices rallied on Wednesday after December inflation data showed underlying price pressures slowing, reducing fears of a prolonged pause in interest rate cuts <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43001512/inflation-rises-to-29-in-december-core-slows-yet-rising-energy-costs-put-feds-target-at-risk">by the Federal Reserve. </a>
The headline Consumer Price Index rose 2.9% year-over-year in December, up from November's 2.7%, matching economist forecasts. On a monthly basis, headline inflation increased 0.4%, accelerating from the 0.3% surge in November and marking the largest monthly rise since March 2024.
Core inflation, which excludes volatile food and energy prices, rose 3.2% year-over-year, slightly below the expected 3.3%. Month-over-month, core prices gained 0.2%, in line with forecasts.
The inflation data boosted expectations for Fed rate cuts in 2025. The probability of a rate cut by June rose to 68% from 55% the previous day, with December futures now indicating a 58% chance of two cuts by year-end.
<h3 class="wp-block-heading">Wall Street Gains As Bond Yields Retreat, Financial Stocks Soar</h3>
The S&amp;P 500 index – as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – surged 1.5% in early New York trading, led by financial stocks after major banks reported strong fourth-quarter earnings.
JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) and BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) all topped earnings forecasts for the fourth quarter and released upbeat guidance, reiterating that the financial sector thrived heading to the end of last year.
The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) rose 2.2%, leading all S&amp;P 500 sectors, while the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) jumped 3.4%, reflecting strong performance among regional banks.
The Dow rose 1.6%, while the Russell 2000 index outperformed, climbing 2.6%. Tech stocks, tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), gained 1.7%, boosted by falling Treasury yields.
Yields on the policy-sensitive 2-year Treasury note fell 9 basis points to 4.27%, while 30-year yields dropped 9 basis points to 4.88%. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) gained 1.6% as bond prices rallied.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 2% to over $99,000, supported by rising hopes for Fed rate cuts. Gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), added 0.5%.
<h3 class="wp-block-heading">Top Movers</h3>
S&amp;P 500 Gainers:
<ul>
<li>Texas Pacific Land Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>): +5.85%</li>
<li>BlackRock Inc.: +5.54%</li>
<li>Assurant Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIZ#NYSE">AIZ</a>): +5.49%</li>
<li>Bio-Techne Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TECH#NASDAQ">TECH</a>): +5.36%</li>
<li>Citigroup Inc.: +5.16%</li>
</ul>
Nasdaq 100 Movers:
<ul>
<li>Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>): +4.62%</li>
<li>Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>): +4.60%</li>
<li>AppLovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>): +4.43%</li>
<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>): +4.30%</li>
<li>The Trade Desk Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>): +3.39%</li>
</ul>
Top Gainers In The Invesco KBW Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NYSE">KBWB</a>):
<ul>
<li>Citigroup Inc.: +5.27%</li>
<li>Wells Fargo &amp; Co.: +4.80%</li>
<li>Bank of New York Mellon Corp.: +4.35%</li>
<li>Western Alliance Bancorp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>): +4.13%</li>
<li>Goldman Sachs Group Inc.: +4.02%</li>
</ul>
Read now: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43000684/jpmorgan-q4-earnings-shine-investment-banking-revenue-jumps-46-yy-jamie-dimon-says-inflation-may-persist-for-some-time">JPMorgan Chase Q4 Earnings: Investment Banking Revenue Jumps 46%, CEO Jamie Dimon Says &#8216;Inflation May Persist For Some Time&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Macro Economic Events

Bonds

Small Cap

Economics

Tech

$BTC

CPRT

ISRG

PLTR

TECH

iShares Trust Barclays 20+ Year Treasury Bond Fund

Stocks Rise On Core Inflation Slowdown, Banks Rally After Strong Q4 Earnings, Treasury Yields Plummet

On Wednesday, Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)&nbsp;shares traded higher after the <a target="_blank" href="https://www.goldmansachs.com/pressroom/press-releases/2025/2025-01-15-q4-results" rel="noreferrer noopener">company reported its fourth-quarter</a> and full-year 2024 financial results.
Goldman Sachs reported fourth-quarter revenue of $13.87 billion, beating the consensus of $12.39 billion. Revenue increased by 23% year-over-year, reflecting growth across all segments, with significant growth in Global Banking &amp; Markets.
Full-year revenue was $53.51 billion, up 16% YoY, beating the consensus of $51.98 billion.
Net interest income for 4Q24 was $2.35 billion, 75% higher YoY, reflecting a shift towards higher-yielding assets, and was essentially unchanged QoQ. Average interest-earning assets were $1.59 trillion.
Also read: <a target="_blank" href="https://www.benzinga.com//node/42960000" rel="noreferrer noopener">Goldman Sachs Restructures Business for Financing Growth</a>
Segment Revenues: Global Banking &amp; Markets revenues were&nbsp;$8.48 billion, up&nbsp;33% Y/Y. This was boosted by a&nbsp;24% Y/Y increase in investment banking fees to&nbsp;$2.05 billion, led by higher revenues in Debt and Equity underwriting. Investment banking fees backlog increased QoQ, primarily driven by Equity underwriting.
Net revenues in Fixed Income, Currency, and Commodities (FICC) were&nbsp;$2.74 billion,&nbsp;up 35% year over year, primarily reflecting higher net revenues in FICC intermediation and financing.
Net revenues from Equity grew 32% YoY to $3.45 billion, reflecting significantly higher net revenues in intermediation and financing.
Asset &amp; Wealth Management revenue was&nbsp;$4.72 billion,&nbsp;8% higher than last year. Total Wealth management client assets soared to ~$1.6 trillion.
Goldman Sachs clocked fourth-quarter GAAP EPS of&nbsp;$11.95,&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$8.30</a>. Full-year GAAP EPS was $40.54, beating the consensus of $36.55.
Provision for credit losses was&nbsp;$351 million for the&nbsp;fourth quarter, down 39% year over year, reflecting net provisions related to the credit card portfolio (primarily driven by net charge-offs).
In the fourth quarter, total Assets Under Supervision (AUS) saw a net inflow of $92 billion. Total AUS for 2024 increased by $325 billion to a record $3.14 trillion.
Stock Buyback: In the fourth quarter, Goldman Sachs repurchased stock worth $2 billion, bringing the yearly stock buyback to $8 billion.
The Standardized CET capital ratio increased to 15%, and the Advanced CET capital ratio increased to 15.4%. The book value per common share increased to $336.77 YoY, compared to $313.56.
In the last 12 months, Goldman Sachs stock has gained 50%, outperforming the S&amp;P500 and the Dow by a huge margin.
Analyst Ratings: In the last 15 days, Oppenheimer lowered Goldman Sachs stock <a href="https://www.benzinga.com/quote/GS/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast</a> from $677 to $639, UBS downgraded the stock to a Neutral rating with a price forecast of $610, and Barclays raised the price forecast from $588 to $713.
Investors can gain exposure to the Goldman Sachs stock via Shares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>), SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a href="https://www.benzinga.com/stock/DJIA#NYSE" target="_blank" rel="noreferrer noopener"> </a>DIA), and Invesco KBW Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NYSE">KBWB</a>).
Price Action:&nbsp;GS shares are up 2.54% at $586.05 premarket at the last check on Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/42429413" target="_blank" rel="noreferrer noopener">Goldman Sachs CEO Says Bank Can Consider Bitcoin, Ethereum Spot Trading If Regulations Allow</a></li>
</ul>
Photo via Shutterstock

Goldman Sachs Q4 Earnings: Underwriting Boosts Revenue, Assets Reach Record $3.14 Trillion

A stronger lending environment, stable credit and renewed confidence in valuations could set the stage for a multiyear rally on U.S. regional banks, with some analysts predicting up to <a href="https://www.benzinga.com/topic/regional-banks">20% upside in 2025.</a>
Three major investment banks — JPMorgan Chase &amp; Co., Bank of America and Goldman Sachs — released fresh outlooks on regional banks Tuesday, issuing rating changes, top stock picks and sector recommendations for 2025.
Overall, analysts at all three firms are optimistic. Goldman Sachs analyst Ryan Nash, for example, highlighted several factors likely to improve sector fundamentals in 2025:
<ul>
<li>Loan Growth Recovery: While still slow, loan growth is expected to accelerate to 6%-7% by the second half of 2025 as corporations resume borrowing.</li>
<li>Net Interest Income Growth: A steeper yield curve and the repricing of fixed-rate assets are anticipated to boost NII. Nash expects margins to expand from the current 3.03% to 3.31% in 2025.</li>
<li>Fee Income Rebound: Treasury management, payments, and capital markets are set to improve, helping banks diversify revenue streams.</li>
<li>Stable Credit Conditions: Credit losses, measured by net charge-offs, are projected to remain flat or decline, while reserves could decrease as economic clarity improves.</li>
</ul>
<ol>
<li></li>
</ol>
According to Nash, the stocks of regional banks are trading at approximately 11.5 times estimated 2025 earnings—near their historical averages but with room for valuation expansion. 
The sector could generate returns on tangible common equity of 14%-15%, compared to 16% pre-2023.
This suggests the group could rise as much as 20% next year, according to Goldman Sachs, assuming the market gains confidence in forward earnings.
<h3 class="wp-block-heading">Goldman Sachs: Upgrades Zions, Downgrades Comerica</h3>
Goldman Sachs upgraded Zions Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) from Neutral to Buy. The firm predicts a significant upside for the stock, with shares potentially reaching $70 in 2025.
Goldman downgraded Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) from Buy to Neutral, citing challenges in deposit management, fee income pressure, and elevated expense growth. Comerica's margins are expected to improve in 2025. But Nash sees limited upside, with shares already trading near their fair value of $70.
Goldman's top picks for 2025 include Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), Regions Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>), KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>) and Citizens Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>).
Analysts remain positive on Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), Huntington Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>) and First Citizens BancShares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>).
<h3 class="wp-block-heading">The Case For Valuation Upside</h3>
JPMorgan Chase analysts are similarly bullish, indicating that regional banks are trading at just 1.4x their projected 2025 tangible book value, below the 1.8-2x historical range.
Anthony Elian, a JPMorgan analyst, said regional banks&#8217; valuations appear favorable relative to the broader market.
&#8220;While inflation remains above target, the steeper yield curve coupled with gradual rate cuts should serve as a favorable backdrop for regional banks,&#8221; Elian said. 
He expects the sector to attract more interest from generalist investors in 2025, further supporting valuations.
JPMorgan identified several regional banks with strong upside potential, including First Horizon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>), Synovus Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) and Pinnacle Financial Partners Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>). These names are expected to benefit from rebounding loan demand, robust deposit bases, and favorable capital return dynamics.
<h3 class="wp-block-heading">Improving Regulatory Environment </h3>
Bank of America analyst Ebrahim H. Poonawala also indicated that regional banks are poised to outperform the broader market in 2025, citing stronger earnings growth, discounted valuations, and a more predictable regulatory environment.
While Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) remains BofA's top pick, the bank also flagged KeyCorp and Huntington Bancshares Inc. as preferred names within regional banks.
The analyst highlighted a favorable backdrop for small- and mid-cap regional banks, particularly those with exposure to rebounding loan demand and capital return opportunities. 
Among these, BofA sees First Horizon Corp. and Synovus as potentially strong performers.
Bank of America highlights that looser regulation is a positive tailwind for the sector.
&#8220;Headlines tied to regulatory&nbsp;changes&nbsp;(once Trump appointees take charge)&nbsp;could kick-in as a positive catalyst&nbsp;for stocks,&#8221; Poonawala said. 
&#8220;We see Fed Vice Chair Michael Barr&#8216;s decision to step down from his position as vice chair of supervision as the opening act.&nbsp;End to Fed&#8217;s QT&nbsp;program&nbsp;could also&nbsp;serve&nbsp;as a positive for deposit growth/pricing,&#8221; he added. 
<h3 class="wp-block-heading">Market Reactions</h3>
The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) was 0.4% lower on Tuesday, while the Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>) rose by 0.5%. 
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</ul>
Image: Shutterstock

Upgrades

Downgrades

Price Target

Reiteration

FCNCA

HBAN

PNFP

ZION

Are Regional Banks The Next Big Opportunity? Why Wall Street Analysts Expect Multiyear Rally

Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) shares are trading <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">mostly flat on Friday.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, WFC stock has gained 71% in the past year. Investors can gain exposure to the stock via&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>) and&nbsp;First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>).
Recently, the stock has seen marked strength following&nbsp;Donald Trump&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy" rel="noreferrer noopener">presidential election win</a>, as investors anticipate that his administration&#8217;s economic policies could create a<a target="_blank" href="https://www.benzinga.com/news/24/11/41977586/whats-going-on-with-wells-fargo-wfc-shares" rel="noreferrer noopener"> favorable climate for major banks.</a>
Trump&#8217;s tax agenda, which includes potential expansions to the&nbsp;2017 Tax Cuts and Jobs Act, could lower corporate tax rates further, directly boosting Wells Fargo&#8217;s earnings.
Today, Wells Fargo declared quarterly dividends on several of its preferred stock series,<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42006575/wells-fargo-company-declares-cash-dividends-on-preferred-stock" rel="noreferrer noopener"> payable on December 16, 2024.</a>
The company declared a quarterly dividend of $18.75 per share on its 7.50% noncumulative perpetual convertible Class A preferred stock, Series L. The stock has a liquidation preference of $1,000 per share. It trades on the New York Stock Exchange under the symbol &#8220;WFCPrL&#8221;. The dividend will be paid on December 16, 2024.
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For Series Y, the dividend is $0.35156 per depositary share, with a liquidation preference of $25,000 per share.
For Series Z, the dividend is $0.29688 per depositary share, with a liquidation preference of $25,000 per share.
For Series AA, the dividend is $0.29375 per depositary share, with a liquidation preference of $25,000 per share.
For Series CC, the dividend is $0.27344 per depositary share, and for Series DD, it&#8217;s $0.26563 per depositary share, both with a liquidation preference of $25,000 per share.
Wells Fargo said shareholders must be on record by the close of business on November 29, 2024, to qualify for the dividend.
Price Action: WFC shares are trading higher by 0.81% to $73.39 at last check Friday.
Image via Shutterstock
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Dividends

Markets

General

Wells Fargo Declares Dividends On Six Series Of Preferred Stock: Details

Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) shares are trading slightly lower in the morning session on Tuesday after gaining over 3% yesterday. In fact, shares of banks and financial services stocks are trading higher amid the 2024 U.S. presidential election results.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, MS stock has gained over 76% in in the past year. Investors can gain exposure to the stock via&nbsp;iShares U.S. Broker-Dealers &amp; Securities Exchanges ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>) and Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Today, Morgan Stanley Expansion Capital disclosed an investment of $20 million in NovoPayment. The funding will help NovoPayment accelerate product and commercial growth. It will also strengthen NovoPayment&#8217;s <a target="_blank" href="https://www.benzinga.com//node/41901267" rel="noreferrer noopener">position in the banking and payment vertical SaaS market.</a>
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Yesterday, investment funds managed by Morgan Stanley Capital Partners (MSCP) entered into an agreement to sell Sila Services to Goldman Sachs Alternatives. Financial details of the <a href="https://www.benzinga.com//node/41878999">deal were not disclosed.</a>
The transaction will see Sila&#8217;s management continue to lead the company, retaining a significant minority stake. Sila, headquartered in King of Prussia, Pennsylvania, provides residential HVAC, plumbing, and electrical services across the U.S. Northeast, Midwest, and Mid-Atlantic regions.
Sila Services was MSCP&#8217;s first investment and now its first exit in the growing distributed field services sector, a key part of its Business Services vertical.
Since investing in Sila, MSCP has expanded its portfolio with other distributed field services companies, including Fairway Services, Allstar Services, RowCal, and American Restoration.
Price Action: MS shares are trading lower by 0.99% to $132.20 at last check Tuesday.
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</ul>

What's Going On With Morgan Stanley Stock Today?

Bank Of America Securities analyst Ebrahim H. Poonawala raised the price target on Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) from $75 to $84 <a href="https://www.benzinga.com/quote/wfc/analyst-ratings" target="_blank" rel="noreferrer noopener">while reiterating a Buy rating</a>.
A meeting with CEO Charlie Scharf and CFO Mike Santomassimo strengthened analysts&#8217; belief that the bank is on track to achieve high-teens return on average tangible common equity (ROTCE).
Poonawala says that, in the discussion, it was clear that management is now prioritizing franchise efficiency, focusing on areas like cost control, client wallet share, and market share expansion, after dedicating a significant portion of their attention to regulatory issues in recent years.
The management is confident that each of their four business segments can achieve top-tier returns, targeting a ROTCE between 16% and 19%, adds the analyst.
Additionally, management emphasized substantial growth prospects throughout the franchise, not just in capital markets, wealth management, and cards, writes the analyst.
Despite the stock&#8217;s strong performance so far this quarter, the analyst believes the removal of the 2018 asset cap will serve as a catalyst, attracting a new group of investors and potentially driving a re-rating of the stock's valuation.
Poonawala anticipates the asset cap removal to occur in early 2025, following the significant efforts made by management to address regulatory issues, most notably the earlier removal of the 2016 OCC consent order.
Overall, the analyst raised the FY25/26 EPS estimates by 4% to $5.64 and $7, respectively, implying a ROTCE of 15%+ and 16%+ by 2026.
The analyst expect more upside potential, as consensus overestimates credit costs and underestimates fee growth.
Investors can gain access to the stock via&nbsp;First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)&nbsp;and&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: WFC shares are up 4.28% at $73.04 at the last check Monday.
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Image: Shutterstock

Bank Of America Predicts Positive Stock Re-Rating For Wells Fargo After Asset Cap Removal

Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) shares are trading lower premarket on Monday after the firm stated that it is streamlining foreign exchange (FX) risk management for <a href="https://www.benzinga.com/markets/forex">cross-currency payments and receipts</a>.
The bank introduced Guaranteed FX Rates of up to one year. That&#8217;s the <a href="https://www.benzinga.com/pressreleases/24/10/n41419853/bofa-extends-guaranteed-fx-rates-up-to-1-year" target="_blank" rel="noreferrer noopener">longest tenor in the industry</a>, Bank of America says. This solution will help companies reduce exposure to currency fluctuations and simplifies treasury management tasks like forecasting and reconciliation.
This year marks the eighth anniversary of Bank of America&#8217;s introduction of Guaranteed FX Rates beyond a 24-hour tenor.
The solution has evolved to support over 200 currency pairings and multiple tenors, with demand driving an increase in eligible currencies.
The one-year tenor is now available for 37 currency pairs, including high-volume pairs like USD/MXN, EUR/USD, USD/CAD, GBP/USD, EUR/CZK, and AUD/USD.
&#8220;For corporate treasurers, volatile FX markets exacerbate the challenge of cash flow forecasting,&#8221;&nbsp;said&nbsp;Daniel Stanton, head of Transactional FX in Global Payments Solutions at Bank of America said,&nbsp;&#8220;Securing guaranteed FX rates of longer tenors can help them improve forecasting, which will lead to better informed decision-making.&#8221;
Notably, clients who adopted the Guaranteed FX Rates in 2024 have contributed over 20% to year-to-date volume growth.
Recently, Bank of America reported a third-quarter net income of $6.9 billion, beating estimates with EPS of $0.81, though <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41330174/bank-of-america-q3-earnings-profit-drops-12-on-loan-loss-provisions-investment-banking-fees-soar-18" rel="noreferrer noopener">down 12% YoY due to rising expenses</a>.
Investors can gain access to the stock via&nbsp;First Trust Nasdaq Bank ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)&nbsp;and&nbsp;Invesco KBW Bank ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: Bank of America shares are down 0.21% at $42.23 premarket at the last check Monday.
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Image: Shutterstock

Bank Of America Unveils Longest Foreign Exchange Rate Guarantee

Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) shares are trading higher on Thursday. The company launched SafeBalance <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n41044248/from-piggy-bank-to-family-banking-bofa-launches-new-solution-to-help-parents-raise-financially-sav" rel="noreferrer noopener">Banking for Family Banking</a>.
This is a new account that equips parents with tools and resources to help their children develop healthy financial habits and manage their money through a secure digital experience.
This solution allows parents to open accounts for their children under 16 and will include additional enhancements next year.
The bank launched Family Banking in Connecticut, Maine, and Rhode Island, with plans for nationwide availability by December.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40902762/bank-of-america-appoints-executives-to-lead-new-venture-report" rel="noreferrer noopener">Bank Of America Appoints Executives To Lead New Venture: Report</a>
Mary Hines Droesch, Head of Product for Consumer, Business and Wealth Management Banking and Lending at Bank of America, said, &#8220;For many parents, it can be hard to find the right financial tools and resources that can also instill positive financial habits in their children.&#8221;&nbsp;
&#8220;Family Banking offers the foundation young people need for managing money, with support for parents seeking to help their children on the path to financial health and independence.&#8221;
This week, Bank of America disclosed that it is on track to launch over 165 new centers in 63 markets by the end of 2026,&nbsp;including <a target="_blank" href="https://www.benzinga.com//node/40983831" rel="noreferrer noopener">nearly 40 centers this year</a>.
Investors can gain access to the stock via&nbsp;First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)&nbsp;and&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: BAC shares are up 0.46% at $39.43 at the last check Thursday.
Photo via Shutterstock
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Bank Of America's New Banking Account Helps Parents Teach Kids Money Management: Details

Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) said it is on track to launch over 165 new centers in 63 markets by the end of 2026,<a href="https://www.benzinga.com/pressreleases/24/09/n40977123/bofa-to-open-more-than-165-financial-centers-by-end-of-2026" target="_blank" rel="noreferrer noopener"> including nearly 40 centers this year</a>.
This expansion follows the opening of more than 100 centers in the last two years.
Bank of America is expanding its retail banking presence in Kentucky with the opening of its first financial center in the Louisville area today, followed by a second center set to open on October 7.
The bank plans to establish a total of five financial centers in the Louisville market by the end of 2025.
This latest expansion will increase Bank of America&#8217;s total number of financial centers in Kentucky to 10 by the end of 2027.
Since 2014, Bank of America has invested over $5 billion in growing its financial center network by opening locations in new and existing markets nationwide.
This month, Bank of America appointed Jim Rourke and Michael Liu to lead a new initiative integrating <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40902762/bank-of-america-appoints-executives-to-lead-new-venture-report" rel="noreferrer noopener">investment banking and wealth management</a>.
The Private Client Partnership Development aims to boost asset growth and deal opportunities, focusing on sell-side M&amp;A.
Investors can gain access to the stock via&nbsp;First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)&nbsp;and&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: BAC shares are down 0.53% at $40.06 at the last check Monday.
Image via Shutterstock
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Bank Of America Ramps Up Expansion: Over 165 New Financial Centers Set To Open Across 63 US Markets By 2026

Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) shares are trading higher on Tuesday. The company launched specialized Application Programming Interfaces (APIs) for its Commercial <a href="https://www.benzinga.com/pressreleases/24/09/b40899845/wells-fargo-expands-api-capabilities-for-its-commercial-banking-business" target="_blank" rel="noreferrer noopener">Banking clients, expanding its API portfolio</a>.
These APIs offer real-time data access aimed at boosting sales, improving liquidity, reducing credit risk, and cutting expenses for floorplan and channel finance clients across several industries.
Wells Fargo&#8217;s API platform allows manufacturers, distributors, and dealers to seamlessly connect through their preferred systems. Automatic updates flow between trading partners, eliminating the need for manual data entry or file transfers, providing clients with instant access to crucial business insights.
Daniel Pfeiffer, head of Wells Fargo Global Receivables, Trade, and Inventory Finance, said, &#8220;By expanding our API technology, we took a step forward in taking out the complexity of navigating various systems allowing clients to embed the functionality they need to manage their inventory and processes in their system of choice.&#8221;
Reetika Grewal, Wells Fargo&#8217;s head of Digital for Commercial Banking and Corporate &amp; Investment Banking stated, &#8220;This expansion of our portfolio will allow our clients to be even more connected to the platforms they are using and ensure they have an end-to-end view that can streamline their business operations and provide information at a faster speed.&#8221;
This month, the U.S. Office of the Comptroller of the Currency (OCC) entered into a formal agreement with the company as related to its anti-money laundering (AML) and&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/09/40842814/wells-fargo-reaches-agreement-with-us-bank-regulatory-agency-about-anti-money-laundering-financial-c" rel="noreferrer noopener">sanctions risk management practices</a>.&nbsp;
Investors can gain access to the stock via&nbsp;First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)&nbsp;and&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: WFC shares are up 2.26% at $55.01 at the last check Tuesday.
Image via Shutterstock
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Wells Fargo Launches New APIs To Boost Efficiency And Productivity: Details

Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) shares are trading higher on Tuesday. The bank appointed two executives to spearhead a new initiative aimed at integrating its investment banking and <a href="https://www.benzinga.com/topic/wealth-management">wealth management divisions</a>.
The bank targets increased asset growth and deal opportunities, as <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-16/bofa-names-leaders-to-better-align-investment-bank-wealth-units?sref=TBDibEcD" rel="noreferrer noopener">reported </a>Bloomberg.
Jim Rourke and Michael Liu have been appointed to&nbsp;lead the newly named Private Client Partnership Development.
Read: <a href="https://www.benzinga.com/markets/equities/24/09/40729471/bank-of-america-makes-largest-ever-investments-in-carbon-capture-bets-205m-on-a-cleaner-planet-r" target="_blank" rel="noreferrer noopener">Bank Of America Makes Largest-Ever Investments In Carbon Capture, Bets $205M On A Cleaner Planet</a>
Brendan Hanley&nbsp;and&nbsp;Sam Kumar, co-heads of emerging growth and regional coverage, stated that Rourke and Liu will focus on sell-side M&amp;A opportunities to "increase the quality of actionable mandates and growth of managed assets,".
This month, the bank announced a bold wage hike, driving its minimum hourly rate&nbsp;to $24 and<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40792082/whats-going-on-with-bank-of-america-stock-on-tuesday" rel="noreferrer noopener"> edging closer to a $25 goal by 2025</a>.
This increase will raise the minimum annual salary for full-time U.S. employees to almost $50,000 and applies to all full-time and part-time hourly roles.
Investors can gain access to the stock via&nbsp;First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)&nbsp;and&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: BAC shares are up 0.30% at $39.22 premarket at the last check Tuesday.
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40886945/if-fed-cuts-interest-rates-credit-card-aprs-are-still-going-to-be-high-for-now-econ" target="_blank" rel="noreferrer noopener">If Fed Cuts Interest Rates, Credit Card APRs &#8216;Are Still Going To Be High&#8217; For Now, Economist Says</a></li>
</ul>

Management

Bank Of America Appoints Executives To Lead New Venture: Report

Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) shares are trading higher on Friday. On Thursday, the U.S. Office of the Comptroller of the Currency (OCC) entered into a formal agreement with the company as related to its anti-money laundering (AML) <a target="_blank" href="https://benzinga.com/government/24/09/40842814/wells-fargo-reaches-agreement-with-us-bank-regulatory-agency-about-anti-money-laundering-financial-c" rel="noreferrer noopener">and&nbsp;sanctions risk management practices</a>.
Wells Fargo issued a statement Thursday announcing a new agreement, which will require enhancements to the bank&#8217;s AML and sanctions risk management practices, obtaining the OCC&#8217;s acceptance of Wells Fargo&#8217;s program for assessing the AML and sanctions risks of new offerings and providing notice to the OCC before expanding certain of those offerings.&nbsp;
Goldman Sachs analysts Richard Ramsden and James Yaro write that it appears that Wells Fargo has been aware of the issues related to this enforcement action for some time, so they don&#8217;t expect it to affect their <a target="_blank" href="https://www.benzinga.com/quote/WFC/analyst-ratings" rel="noreferrer noopener">2024 expense outlook significantly</a>.
Based on past cases, if Wells Fargo resolves the control deficiencies within the OCC&#8217;s timeline, it&#8217;s unlikely to escalate to a more serious consent order, which could involve civil penalties and stricter business limitations, per the analysts.
Analysts say that while the agreement restricts WFC from expanding into products or services with medium or high BSA/AML risk without approval, they don&#8217;t foresee a material impact on their near-term growth.
RBC Capital Markets analyst Gerard Cassidy writes that although this news is unexpected and AML issues are serious, often involving fines, lengthy resolutions, and high costs, they don&#8217;t believe this agreement will affect the chances of lifting the Federal Reserve&#8217;s 2018 Cease and Desist (C&amp;D) order and asset cap.
The C&amp;D order is focused on WFC&#8217;s consumer banking issues, while today&#8217;s agreement addresses separate AML concerns, adds the analyst.
Last month, Wells Fargo planned to sell its non-agency third-party commercial mortgage servicing segment to <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40468566/whats-going-on-with-wells-fargo-stock-tuesday" rel="noreferrer noopener">Trimont</a><a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40468566/whats-going-on-with-wells-fargo-stock-tuesday" rel="noreferrer noopener">, closing in early 2025</a>.
Investors can gain access to the stock via&nbsp;First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)&nbsp;and&nbsp;Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
Price Action: WFC shares are up 1.48% at $52.33 at the last check Friday.
Image via Shutterstock
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40748389/cleveland-cliffs-chief-slams-us-steel-for-pathetic-blackmail-attempt-on-us-pennsylvania" target="_blank" rel="noreferrer noopener">Cleveland-Cliffs Chief Slams US Steel for &#8216;Pathetic Blackmail Attempt&#8217; On US, Pennsylvania</a></li>
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Legal

Wells Fargo's Anti-Money Laundering Compliance: Analysts See Minimal Impact on Growth Despite Regulatory Hurdles

도널드 트럼프 행정부가 대형은행 규제를 완화하는 제안을 거의 완료했다. 이에 월가 대형은행들은 대체로 보완 레버리지 비율(SLR)이 낮아져 자산 대비 자본 보유량을 줄일 수 있게 될 것으로 예상하고 있다.
무슨 일 있었나: 애널리스트들은 트럼프 행정부의 대형 은행 규제, 특히 SLR 완화 추진이 은행에 도움이 되고 더 광범위한 경제 성장을 촉진할 수 있다는 데 대체로 동의한다.
TD 증권의 미국 금리 전략 책임자인 제나디 골드버그(Gennadiy Goldberg)는 폴리티코(Politico)와 인터뷰에서 은행에 대한 자본 규제가 완화되면 자본이 미국 국채를 더 많이 매입할 수 있게 될 것이라고 <a href="https://www.politico.com/news/2025/05/31/trump-administration-prepares-to-ease-big-bank-rules-00377347" target="_blank" rel="noopener">말했다</a>.
그러나 베터 마켓츠(Better Markets(의 경제 성장 및 금융 안정성 담당 이사인 필립 바질(Phillip Basil)은 대형은행의 자본 요건을 낮추는 것은 금융 안정성 위험을 높이며 은행 업계가 최근 국채 시장 혼란을 오랫동안 추구해온 규제 완화를 추진하기위한 구실로 악용하고 있다고 폴리티코에 전했다.
한편, 미국 중소기업청(SBA) 행정관인 켑 로플러(Kepp Loeffler)는 "특히 감세 및 규제 완화와 함께 공평한 경쟁의 장이 마련되면 중소기업이 승리할 수 있다"고 말했다.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Small businesses finally have a fighter in the White House who won't keep allowing unfair trade practices to crush their industries and outsource their jobs.
They know they can win with a level playing field – ESPECIALLY combined with tax cuts and deregulation. <a href="https://t.co/APEVgiLIb6">pic.twitter.com/APEVgiLIb6</a>
&mdash; Kelly Loeffler (@SBA_Kelly) <a href="https://twitter.com/SBA_Kelly/status/1927856861576831355?ref_src=twsrc%5Etfw">May 28, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
왜 중요한가: 투자자들이 고려할 수 있는 일부 은행 주식 목록은 다음과 같다.
<figure class="wp-block-table is-style-stripes">
<table class="has-fixed-layout">
<tbody>
<tr>
<td>주식</td>
<td>연초 대비 성과</td>
<td>1년 성과</td>
</tr>
<tr>
<td>뱅크오브아메리카 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>)</td>
<td>-0.36%</td>
<td>10.66%</td>
</tr>
<tr>
<td>JP모건 체이스 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)</td>
<td>10.00%</td>
<td>30.81%</td>
</tr>
<tr>
<td>골드만삭스 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)</td>
<td>4.43%</td>
<td>31.97%</td>
</tr>
<tr>
<td>모건스탠리 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</td>
<td>2.60%</td>
<td>31.43%</td>
</tr>
<tr>
<td>시티그룹 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>)</td>
<td>7.69%</td>
<td>21.64%</td>
</tr>
<tr>
<td>웰스파고 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>)</td>
<td>6.54%</td>
<td>26.02%</td>
</tr>
<tr>
<td>피프스 서드 뱅코프 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>)</td>
<td>-9.44%</td>
<td>3.64%</td>
</tr>
<tr>
<td>그루포 피난시에로 갈리시아 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GGAL#NASDAQ">GGAL</a>)</td>
<td>-15.63%</td>
<td>63.06%</td>
</tr>
<tr>
<td>뱅크퍼스트 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BANF#NASDAQ">BANF</a>)</td>
<td>6.55%</td>
<td>46.67%</td>
</tr>
</tbody>
</table>
</figure>
또한 주목해야 할 은행 상장지수펀드(ETF) 목록은 다음과 같다.
<figure class="wp-block-table is-style-stripes">
<table class="has-fixed-layout">
<tbody>
<tr>
<td>ETF</td>
<td>연초 대비 성과</td>
<td>1년 성과</td>
</tr>
<tr>
<td>Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>)</td>
<td>0.51%</td>
<td>22.70%</td>
</tr>
<tr>
<td>SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>)</td>
<td>-3.11%</td>
<td>16.44%</td>
</tr>
<tr>
<td>First Trust Nasdaq Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTXO#NASDAQ">FTXO</a>)</td>
<td>-1.92%</td>
<td>17.65%</td>
</tr>
<tr>
<td>Themes Global Systemically Important Banks ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSIB#NASDAQ">GSIB</a>)</td>
<td>25.20%</td>
<td>36.01%</td>
</tr>
</tbody>
</table>
</figure>
사진 출처: Shutterstock
Benzinga Pro의 독점 뉴스 및 도구로 수익률을 높이세요.
독점 속보 및 스캐너와 같은 Benzinga Pro의 강력한 도구 세트로 다른 트레이더보다 우위를 점하세요. <a href="https://www.benzinga.com/pro/register?t=be2bewe5mibe3bz3&amp;utm_source=bz-kor">여기를 클릭</a>하여 14일 무료 체험을 시작하세요.

연방준비제도(연준)는 주요 미국 은행들의 규제 부담을 완화하고 있으며, 기후 스트레스 테스트 프로그램을 종료하고 분석가들이 <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39525918/major-banks-fall-short-in-feds-2024-stress-test-results-the-market-will-view-the-re" target="_blank" rel="noopener" data-google-interstitial="false">지난해보다 더 유리하다</a>고 보는 2025년 스트레스 테스트 시나리오를 발표했다.
이러한 변화는 자본 규칙에 대한 잠재적 조정과 결합되어, 골드만삭스(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>)와 모건 스탠리(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)와 같은 대형 은행들에게 완화를 제공할 수 있으며, 이들은 보다 투명한 규제 프레임워크에서 가장 큰 혜택을 볼 것으로 보인다.
<a href="https://www.bloomberg.com/news/articles/2025-02-06/fed-tells-banks-they-won-t-need-to-do-climate-stress-tests?srnd=homepage-americas&amp;sref=TBDibEcD">블룸버그</a>가 목요일에 처음 보도한 바와 같이, 연준은 기후 시나리오 분석 연습(Climate Scenario Analysis Exercise)을 종료했다. 이는 주요 은행과 기타 기관들이 기후 관련 위험 데이터를 제출하도록 요구하는 프로그램이었다. 이 결정은 최근 몇 년 동안 규제 당국이 기후 위험이 금융 안정성에 미치는 영향을 평가하려 했던 것과는 반대되는 방향이다.
<h3 class="wp-block-heading">더 유리한 스트레스 테스트 시나리오</h3>
목요일, Bank of America의 분석가들 에브라힘 H. 푸나왈라(Ebrahim H. Poonawala)를 포함한 뱅크 오브 아메리카의 분석가들은 2025년 스트레스 테스트 시나리오가 지난해보다 &#8220;전반적으로 더 좋다&#8221;고 언급하며, 자본 완화가 곧 올 것이라는 자신감을 강화했다.
이 스트레스 테스트는 은행의 경제적 하락 상황에서의 회복력을 평가하기 위해 설계된 것으로, 자본 요구 사항을 설정하는 데 중요한 역할을 한다.
지난해의 불리한 시나리오와 비교했을 때, 업데이트된 매개변수는 시장 변동성을 줄이고, GDP 하락폭을 완화하며, 상업용 부동산 가격의 하락폭을 줄였다.
&#8220;은행들은 규제 자본 요구 사항에서 완화를 보기 시작해야 한다&#8221;라고 뱅크 오브 아메리카는 보고서에서 작성했다.
연준의 최신 발표는 특정 방법론 변경에 대한 제한된 세부 정보를 제공했지만, 스트레스 테스트 결과의 변동성을 줄이고 투명성을 개선하기 위한 조치가 취해질 것이라고 확인했다.
뱅크 오브 아메리카는 이것이 2008년 금융위기 이후 10년 이상 지속된 규제 기대치를 보다 예측 가능하게 만드는 전환점이 될 수 있다고 언급했다.
뱅크 오브 아메리카의 분석가들은 골드만삭스와 모건 스탠리가 자본 시장 노출로 인해 가장 큰 수혜를 받을 것으로 보고 있다.
&#8220;완화는 광범위하게 이루어져야 하지만, 자본 시장 비즈니스는 상대적으로 더 큰 완화를 볼 수 있다. 매수 등급을 받은 골드만삭스와 모건 스탠리는 가장 큰 혜택을 볼 것으로 예상된다&#8221;라고 분석가들이 작성했다.
<h3 class="wp-block-heading">자본 완화가 따를 것인가?</h3>
중요한 질문은 연준이 올해 스트레스 테스트 결과를 2년 평균으로 시행할 것인지 여부이다.
연준은 12월에 자본 요구 사항을 2년 평균으로 매끄럽게 조정하고 향후 테스트 시나리오에 대한 공개 의견을 허용할 계획을 발표했다. 그러나 최근 발표에서는 이러한 변경 사항이 언제 시행될 것인지에 대한 언급이 없었다.
규제 완화에 대한 모멘텀을 더하는 것은 연방 준비 제도 이사인 미셸 보우먼이 수요일에 주요 자본 규칙을 재검토해야 한다고 언급한 것이다. 그녀는 주요 은행의 자본 완충 장치에 영향을 미치는 보완적 레버리지 비율과 글로벌 시스템적으로 중요한 은행 추가 요금을 검토할 필요성을 강조했다.
&#8220;현재 구조에서 [스트레스 테스트]는 공공의 검증에서 숨겨진 불투명한 테스트로, 가변적인 구속적 자본 요구 사항을 설정하는 데 사용된다&#8221;고 보우먼이 말했다.
그녀는 테스트의 신뢰성과 신뢰성을 높이기 위한 더 큰 투명성과 기술적 개선을 촉구했다.
<h3 class="wp-block-heading">시장 반응</h3>
주요 미국 은행들의 주식은 목요일에 급등했으며, Financial Select Sector SPDR Fund(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)와 Invesco KBW Bank ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>) 모두 새로운 기록 고점을 기록했다.
여섯 개 주요 은행 중 씨티그룹(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>)이 3.61% 상승으로 가장 좋은 성과를 보였고, 그 뒤를 이어 JP모건 체이스(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)가 2.41% 상승 마감했다.
다음 읽기: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43534297/january-jobs-report-preview-speculators-bet-on-strong-payroll-surge-yet-economists-predict-a-different-picture">1월 고용 보고서 미리보기: 투기자들은 강한 고용 증가를 예상했지만, 경제학자들은 다른 전망을 제시합니다</a></li>
</ul>
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뱅크 오브 아메리카(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), 찰스 슈왑(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) 및 모건 스탠리(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)는 화요일에 2분기 실적을 <a href="https://www.benzinga.com/news/24/07/39696435/why-are-bank-of-america-shares-rising-tuesday" target="_blank" rel="noopener" data-google-interstitial="false">발표할 것으로 예상</a>된다.
<a href="https://pro.benzinga.com/dashboard">벤징가 프로</a>의 데이터에 따르면 분석가들은 뱅크 오브 아메리카(BofA)가 이번 분기에 225억 2천만 달러의 매출과 함께 80센트의 주당 순이익(EPS)을 기록할 것으로 예상하고 있다. 1년 전 이 은행은 EPS 88센트, 매출 253억 달러를 보고했다.
슈왑은 72센트의 EPS를 기록하고 3개월 동안 46억 8천만 달러의 매출을 보고할 것으로 예상된다. 이 은행은 2023년 같은 기간 동안 EPS 75센트와 매출 46억 5,600만 달러를 기록했다.
모건 스탠리의 분석가들은 2분기에 EPS 1.65달러와 매출 142억 9,900만 달러를 예상했는데, 이는 1년 전 EPS 1.24달러와 매출 134억 달러보다 증가한 수치라고 벤징가 프로 데이터가 보여준다.
월요일에 골드만삭스 그룹(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)은 <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39777515/goldman-sachs-strong-q2-performance-boosts-confidence-in-future-returns-says-jp-mor" target="_blank" rel="noopener" data-google-interstitial="false">2분기</a> 매출이 127억 3천만 달러로 시장 예상치인 124억 5천 6천만 달러를 넘어섰다고 발표했다.
매출은 글로벌 뱅킹, 시장, 자산 및 자산 관리 분야의 순매출 증가를 반영하여 전년 대비 17% 증가했다. 글로벌 뱅킹 및 시장 매출은 81억 8천만 달러로 전년 대비 14% 증가했다.
다음 읽기: <a href="https://www.benzinga.com/insights/options/24/07/39777756/charles-schwab-options-trading-a-deep-dive-into-market-sentiment">찰스 슈왑 옵션 거래: 시장 심리에 대한 심층 분석</a>
지난 금요일에 J.P. 모건 체이스(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), 씨티그룹(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) 및 웰스 파고(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>)는 모두 예상보다 나은 2분기 실적을 기록했다.
자산 기준 미국 최대 은행인 JP모건은 EPS를 4.40달러로 보고했는데 이는 컨센서스 추정치 4.19달러를 넘어섰다. 조정 매출은 509억 9천만 달러로 예상치 423억 달러를 초과했다.
씨티의 2분기 EPS는 1.52달러로 추정치 1.39달러를 상회했고, 매출은 201억 4천만 달러로 예상치 200억 달러를 넘었다.
웰스 파고의 EPS는 분석가가 예상한 1.29달러보다 약간 높은 1.33달러를 기록했으며, 매출은 206억 9천만 달러로 추정치 202억 9천만 달러를 초과했다.
주가 움직임: 뱅크 오브 아메리카는 월요일 0.72% 오른 41.89달러에, 슈왑은 0.41% 하한 75.07달러에, 그리고 모건 스탠는 1.12% 상승한 105.26달러에 마감했다.
Financial Select Sector SPDR Fund(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)는 1.46%을 상승한 반면, Invesco KBW Bank ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>)는 1.76% 상승했다.
사진: 셔터스톡






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Invesco KBW Bank ETF

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