3 Stocks to Own as Regional Banks Rebound
HIBS – Regional bank stocks Hingham Institution for Savings (HIFS), Webster Financial (WBS), and German American Bancorp (GABC) don’t get much attention, but they should. Here’s why.
Jan 7, 2021
In just the first few days of trading in 2021, regional bank stocks are soaring. The SPDR S&P Regional Banking ETF (KRE) is up more than 12%, while the S&P 500 is trading just 1.29% higher.
The banking industry saw more than its fair share of challenges in 2020, ranging from the closure of branches due to the coronavirus pandemic, to the increased competition from non-bank fintechs. The Deloitte Center for Financial Services is estimating that the U.S. banking industry may have to provision for a total of $318 billion in net loan losses from 2020 to 2022, which would represent 3.2% of loans.
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MJ) and AdvisorShares Pure US Cannabis ETF (
MSOS), have taken different strategies in pursuit of their targeted sector.
The Summit, New Jersey-based ETFMG Alternative Harvest ETF (MJ) was founded in 2014 and targets the global cannabis industry by tracking the Prime Alternative Harvest Index. The top holding in its portfolio is its $10.03 share of Canada’s Aphria Inc. (
APHA), followed by an 8.43% share of Britain’s GW Pharmaceuticals plc (
The Bethesda, Maryland-based AdvisorShares Pure US Cannabis ETF (MSOS) only began trading on Sept. 2 of this year and concentrates
solely on cannabis-related businesses within the U.S. market, investing at least 80% of its net assets in the securities of U.S. companies that derive at least half of their net revenue from marijuana and hemp businesses. Slightly more than half of its portfolio belongs to BlackRock Liquidity Funds Treasury Trust Institutional (