Regional banks have been on a tear recently. These are on our Best Stocks list
Josh Brown and Sean Russo break down the regional bank names on their Best Stocks list.
TL;DR
- Citizens Financial Group (CFG) has seen substantial growth after hiring 150 former First Republic private bankers.
- CFG has attracted over $12 billion in deposits and is tracking towards $7 billion in loans and $10 billion in assets under management.
- Regional banks, represented by the S&P Regional Bank index, have struggled over the past three years but are now showing signs of a rebound.
- The Federal Reserve's recent rate cut and resumption of Treasury purchases have boosted confidence in the financial sector, particularly regional banks.
- M&T Bank (MTB) and Huntington Bancshares (HBAN) are also discussed as potential investment opportunities within the regional banking sector.
- Josh Brown and Sean Russo of Ritholtz Wealth Management provide analysis and stock recommendations for the 'Best Stocks in the Market' list.