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  • Jun. 23, 2011, 10:34 AM
    More on Discover (DFS +1.1%) earnings: Of the record quarter, CEO David Nelms credits improved loan performance allowing fewer charge-offs, meaning substantial releases of credit loss reserves could be reinvested into growth initiatives.
    | 1 Comment
  • Jun. 21, 2011, 12:55 PM
    Wall Street's switch to higher salaries and lower bonuses to avoid TARP caps may have unintended consequences: mass layoffs. Without the flexibility to cut bonuses during lean periods, fixed costs such as high salaries leave firms with little alternative but to cull the ranks.
  • Jun. 20, 2011, 9:25 AM
    Signs of loan growth emerge in Florida, where small start-up banks with clean balance sheets are taking advantage a healthy demand for capital to lend where others can't. First quarter loan volume is up 5% vs. last quarter, compared to a 1.7% decline nationwide.
    | 1 Comment
  • Jun. 17, 2011, 3:12 PM
    Keefe, Bruyette raises First Commonwealth (FCF +3.5%) to outperform on price weakness, saying the bank will likely continue to deal with additional credit costs in the near term, but its capital reserve is strong enough to handle any credit problems.
    | 1 Comment
  • Jun. 17, 2011, 2:30 PM
    With the acquisition of ING Direct, CEO Richard Fairbanks takes Capital One (COF -0.7%) a step closer to top-tier banking status. The purchase diversifies the bank's credit-card heavy portfolio, boosts 'sticky' deposits, and brings to it a young, internet-savvy customer base.
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  • Jun. 15, 2011, 5:50 PM
    Don Brownstein has an idea for solving the foreclosure crisis: Turn them all into rentals. He says foreclosing imposes unnecessary costs on both homeowners and mortgage servicers, which we can avoid by just renting the house back rather than evicting. Can you picture Jamie Dimon as Mr. Furley?
  • Jun. 15, 2011, 1:25 PM
    With the shares of Central Pacific Financial (CPF -13%) down 60% since purchased in February, the Treasury will sell its entire 5.6M share stake. Shareholders also announce plans to sell an additional 12M through the company.
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  • Jun. 2, 2011, 2:37 PM
    Financials (KBE +0.4%) are among the day's top performers despite negative headlines. Goldman Sachs (GS -0.9%) remains in the red but is well off earlier lows after subpoena reports. Despite a Moody's note saying BofA (BAC +1%), Wells Fargo (WFC +1.1%) and Citigroup (C +1.4%) are on review for possible downgrade, all three stocks turn positive after an initial hit on the news.
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  • Jun. 1, 2011, 2:15 PM
    The weak ADP jobs report has stung financial shares (KBE -3.3%) all session long, as it becomes tough to imagine how banks will get rid of all those foreclosed homes without more robust job growth. The heavyweights: WFC -4.2%, BAC -3.6%, USB -3.1%, JPM -3%, PNC -2.6%. Among regional banks: RF -6.5%, STI -5.3%, BBT -5.2%, FITB -4.5%, HBAN -3.3%.
  • Mar. 18, 2011, 11:22 AM
    The Fed announces the completion of its stress test analysis of 19 big banks, clearing the way for some to increase dividends and buy back shares. Methodology included a requirement that banks test their revenue and capital against three different economic outcomes, including a severe recession in which unemployment rises to 11%. KBE +1.2%.
  • Mar. 16, 2011, 11:36 AM
    The Fed’s chief bank regulator says 30% of U.S. banks have supervisory ratings deemed unsatisfactory. While banks’ asset quality is "stabilizing," conditions in real estate markets are "still very difficult” and the banking system is “still in the repair and recovery stage." Tougher regulations will “reflect the degree of systemic risk that individual banking organizations seem to pose.”
    | 1 Comment
  • Mar. 15, 2011, 10:53 AM
    A new rule from the FDIC would try to contain broader threats by paying creditors of financial firms that the government seizes and winds down, with priority for debts incurred after the seizure. The industry has watched with concern over how rights will be divided in the case of "orderly liquidation."
    | Comment!
  • Mar. 10, 2011, 11:52 AM
    The banking industry is about three-quarters through its crisis-driven charge-offs, Moody's says, but the remaining $198B to go could jump another $322B if the economy turns south again - mainly due to residential real estate. Big names: JPM -2%; C -1.5%; BAC -1.6%; WFC -1.2%; USB -1.8%.
    | Comment!
  • Feb. 17, 2011, 7:23 AM
    The country's 19 largest banks were ordered to run stress tests against a scenario that reportedly included renewed recession with unemployment above 11%, even though the Fed is decidedly not expecting an economic slump.
  • Feb. 1, 2011, 7:58 AM
    Wall Street: loathed by Main Street and terrorists alike? Security officials are warning that al Qaeda terrorists in Yemen may be trying to plan attacks against major Wall Street firms or their leading execs.
    | Comment!
  • Jan. 6, 2011, 8:48 AM
    As their legal costs skyrocket, major banks like JPMorgan (JPM), BofA (BAC) and Citigroup (C) may find their profits imperiled.
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