WiseRadar: March 14, 2023.
First Republic Bank ($FRC)
First Republic Bank (FRC) is seeing a positive open as Nasdaq and S&P 500 futures gain amid a rebound in banking stocks. The company’s earnings report for the fourth quarter of 2020 showed a 10% increase in net income year-over-year. The bank also saw a rise in deposits and loan balances, with a 7% increase in total loans. Overall, the bank is seeing positive growth.
Western Alliance Bancorporation ($WAL)
Western Alliance Bancorporation (WAL) has seen an increase in its stake from Citadel Advisors LLC, which now holds 5.3% of the company. This increase is seen as a positive sign for the company, as it signals that Citadel is confident in the company’s future.
Metropolitan Bank Holding Corp. ($MCB)
Metropolitan Bank Holding Corp (MCB) shares are trading higher by 30% premarket. The company reported strong fourth quarter earnings and the market is responding positively. MCB’s earnings beat estimates and revenue was up compared to the same period last year. The company also announced a new share repurchase program.
Customers Bancorp, Inc. ($CUBI)
Customers Bancorp, Inc. (CUBI) saw its stock price rise 5.37% in Monday’s after-market session. The financial services company reported strong fourth quarter results, including a 5.2% increase in net income and a 6.7% increase in total loans. CUBI also announced a quarterly dividend of $0.20 per share. The company’s strong performance and dividend announcement have investors optimistic about its future.
Cipher Mining Inc. ($CIFR)
Cipher Mining Inc. (CIFR) is a technology company that focuses on cryptocurrency mining. The company is making strides in the cryptocurrency industry, and is one of the 12 IT stocks moving in Tuesday’s pre-market session. Investors are encouraged to keep an eye on CIFR for potential gains.
Huntington Bancshares Incorporated ($HBAN)
Huntington Bancshares Incorporated (HBAN) has been given a “Buy” rating by analysts, with a price target of $15.50. Analysts expect the stock to perform well, with the potential for long-term growth. The company has strong fundamentals and a positive outlook.
Bank of Hawaii Corporation ($BOH)
Bank of Hawaii Corporation (BOH) is one of the regional bank stocks getting crushed on Monday, with shares down 10.2%. The company is suffering from the impact of the coronavirus pandemic on the economy, with investors concerned about the potential for loan losses.
Veritex Holdings, Inc. ($VBTX)
Veritex Holdings, Inc. (VBTX) hit a 52-week low on Friday, closing at $25.30. The company is a financial holding company that provides banking services to small and medium-sized businesses, professionals, and individuals. It has a strong balance sheet and a solid dividend yield. It is well-positioned to benefit from the current economic environment.
MetroCity Bankshares, Inc. ($MCBS)
MetroCity Bankshares, Inc. (MCBS) hit a 52-week low on Friday, with its stock price falling below $3.00. The company is a bank holding company with a focus on community banking and financial services. It operates branches in the southeastern United States and provides services such as loans, deposits, and wealth management.
The Charles Schwab Corporation ($SCHW)
Baron Capital, a hedge fund, purchased additional shares of The Charles Schwab Corporation (SCHW) on Monday. This is in addition to the shares the fund already owns, and it is a sign of confidence in the company’s future. The Charles Schwab Corporation is a financial services company offering services such as banking, investing, and trading.
Comerica Incorporated ($CMA)
Comerica Incorporated (CMA) is one of six US banks placed under review for a potential downgrade by Moody’s. Other banks on the list include PNC Financial Services, Regions Financial, SunTrust Banks, Fifth Third Bancorp, and KeyCorp. Moody’s cited the banks’ exposure to the coronavirus pandemic as the reason for the review.