Operator
Good morning, everyone, and welcome to Citizens Financial Group First Quarter 2021 Earnings Conference Call. My name is Alan, and I ll be your operator today. [Operator Instructions]
Now I ll turn the call over to Kristin Silberberg, Executive Vice President, Investor Relations. Kristin, you may begin.
Kristin Silberberg
Executive Vice President, Investor Relations
Thank you, Alan. Good morning, everyone, and thank you for joining us. First, this morning, our Chairman and CEO, Bruce Van Saun; and CFO, John Woods, will provide an overview of first quarter results, referencing our presentation, which you can find on our Investor Relations website. After the presentation, we ll be happy to take questions. Brendan Coughlin, Head of Consumer Banking, also here to provide additional color. Don McCree, Head of Commercial Banking, who usually joins us, had the personal conflict today.
BB&T Corporation (NYSE: BBT) shares pulled back along with the broader market last week, although they have recouped part of their losses since then. The Analyst
B Riley FBR analyst Steve Moss upgraded shares of BB&T from Neutral to Buy and increased the price target from $55 to $69,. Read More.
March 8, 2021
It feels like rising Treasury yields are taking a bite out of plenty of sectors. Bank stock ETFs aren’t one of them, indicating investors may want to consider exchange traded funds like the
KBWB tracks the widely followed KBW Nasdaq Bank Index.
“The Index is a modified-market capitalization-weighted index of companies primarily engaged in US banking activities. The Index is compiled, maintained and calculated by Keefe, Bruyette & Woods, Inc. and Nasdaq, Inc. and is composed of large national US money centers, regional banks and thrift institutions that are publicly traded in the US,” according to Invesco.
With rates still low by historical standards, some market observers believe Treasury yields can continue climbing, potentially benefiting KBWB in the process.
Bank Stock Rally Shows Few Signs of Faltering Soon
Bloomberg 3/5/2021 Felice Maranz
(Bloomberg) Bank stocks are on a tear this year, boosted by reopening optimism as the vaccine rolls out across the U.S.
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Investors are betting that more lending, more deals and more consumer spending are yet to come. The potential for fresh stimulus and infrastructure and other massive projects should lift their shares. Even so, while higher yields in a low-interest-rate environment are good for banks, sharp jumps have rattled global markets this week.
The KBW Bank Index has surged 21% this year as some of the biggest banks like JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. posted double-digit gains.
Banks surge to 14-year high as reflation trade speeds ahead bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.