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PowerShares Dynamic Banking Portfolio ETF (PJB)

PJB is defunct since February 26, 2013. Lack of investor interest
  • Feb. 26, 2013, 3:57 PM
    PowerShares has shuttered 13 ETFs, representing less than 1% of the issuer's AUM, as of today's close. Affected funds follow (with competing funds in parentheses): PIC (KIE, IAK, KBWP, KBWI), PYH, PJB (IAT, KBE, KRE, RKH, QABA, KRU, KRS, KBWR), PSTL (SLX), PLK, PWND (FAN), PMA, PKOL (KOL), PKN (NLR, NUCL, URA), PTO, PAO, PCA and CVRT. (pdf)
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  • Dec. 19, 2012, 12:59 PM
    PowerShares announces (full list) the imminent closing of another 13 ETFs (YTD total now over 100). They'll stop trading on Feb. 26 and be liquidated by March 7.
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  • Jul. 13, 2012, 2:32 PM
    JPMorgan (JPM +5.4%) CIO Risk Manager Irvin Goldman has resigned in response to major trading losses and a criminal investigation. Bank stocks continue to shoot higher (XLF +2.4%), as the Street gives a thumbs-up to JPMorgan and Wells Fargo's (WFC +3.1%) Q2 reports (I, II). (more on JPM)
  • Jun. 18, 2012, 3:24 AM
    Fed up with new regulations and weak loan demand, a growing number of small community banks are looking to sell themselves to larger rivals. More than 90 bank mergers have already been announced this year.
  • Jun. 8, 2012, 4:54 AM
    The 19 largest U.S. banks are at least $50B short of meeting Basel III requirements. Smaller U.S. banks are around $10B short of the requirements, the Fed said yesterday.
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  • May. 14, 2012, 4:26 AM
    Wall Street banks should be forced to give up their trading operations, says the FDIC's Thomas Hoenig, with broker-dealer activities cleaved off from banks. Hoenig says TBTF firms have "little capacity to manage [their companies] systematically over time" and regulators are ill-equipped to supervise them. (see also: prop trading, regulatory fail)
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  • Mar. 13, 2012, 1:45 PM
    Not only is Keefe, Bruyette & Woods forecasting that the banking industry is set to see more banks jump into the M&A market as buyers as opposed to sellers, analysts with the firm are also naming names. Banks looking to catch a premium bid: ALNC, FDEF, OABC, TCBI, HTBK, and CFNL.
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  • Mar. 12, 2012, 4:24 PM
    Keefe, Bruyette & Woods sees more banks entering the market as buyers than sellers in 2012, in a good sign for banks looking to find an acquirer willing to pay a premium price. Analysts with Keefe say that after a little over two months into the year, the pace of +$50M deals is more than double than that of last year.
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  • Feb. 22, 2012, 8:34 AM
    The CFPB's Richard Cordray says that the agency is launching an inquiry into the policies of banks on checking account overdrafts. At issue: Do banks withdraw larger checks before smaller checks in order to run up fees? At risk: An estimated $38B in annual overdraft fees.
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  • Feb. 15, 2012, 1:42 AM
    Global regulators' Libor probe has exposed flaws in banks' internal controls that may have allowed traders to manipulate interest rates around the world, sources say, along with email evidence of potential Libor collusion between firms. Banks may face civil fines as a result, though probably not this year. There has been no move toward criminal charges.
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  • Feb. 3, 2012, 1:57 AM
    Banks have been steadily releasing reserves against bad loans, which has boosted their earnings reports. But with loan-loss cushions now heading back to pre-crisis levels, some analysts believe banks will have to slow reserve releases, adding pressure to profits already hit by slower growth and tighter rules.
  • Feb. 1, 2012, 4:48 AM
    President Obama is expected to detail today a program to let millions of homeowners refinance their mortgages with lower-interest federally insured loans. Borrowers would qualify even if they were in negative equity, although Obama is likely to face opposition over plans to levy a bank tax to pay for the proposal.
  • Jan. 23, 2012, 3:06 AM
    France and Germany will reportedly call today for a relaxation of global bank capital rules to ensure lending isn't choked off. The countries will urge special treatment for banks that own insurance companies, and call for a three-year delay to the mandatory deadline to disclose leverage ratios.
  • Jan. 9, 2012, 6:25 AM
    Banks will be permitted to go below minimum liquidity levels during financial crises to avoid cash-flow difficulties, although they'll have to hold emergency stocks of easy-to-sell assets, the Basel Committee said today. The panel rejected industry lobbying for a delay from the 2015 start date of the "liquidity coverage ratio."
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  • Jan. 3, 2012, 5:38 AM
    The number of banks that failed in 2011 fell to 92 from 157 in 2010 and the number of "problem banks" dropped as well, although 844 institutions still face trouble. The improving economy means that banks deteriorate more slowly and so are being given more time to turn things around.
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  • Dec. 30, 2011, 3:42 AM
    Banks with more than $50B in total assets will have to start paying a fee to cover the costs of the Financial Stability Oversight Council and the Office of Financial Research, according to a rule proposed yesterday by the Treasury. Banks will face a flat rate collected twice a year; the Treasury hasn't yet specified the size of the fee.
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PJB Description
The PowerShares Dynamic Banking Portfolio (Fund) is based on the Dynamic Banking Intellidex Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index thoroughly evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. Securities shown to possess the greatest capital appreciation potential are selected by the Index.
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Sector: Financial
Country: United States
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