Shares of U.S. regional lenders jumped on Wednesday on growing investor confidence that the worst of the banking crisis was likely over, following news of strong deposit growth at Western Alliance Bancorp .
A screen displays the logo and trading info for Western Alliance Bancorporation on the floor of the New York Stock Exchange in New York City, U.S., March 14, 2023. REUTERS/Brendan McDermid
"We're not going to make it back to pre-crisis levels anytime soon because we do know that the earnings environment for regional banks will still be impaired, but the period of emergency seems to be dissipating and there's more focusing on the fundamentals," Hogan added. Regional banks, the largest lenders to the beleaguered U.S. commercial real estate and construction markets, have reduced their exposure to the sector by tightening standards and making fewer loans, according to aMany real estate borrowers face challenges making interest payments in a rising rate environment, while office use declined during the pandemic and property values have decreased on recession concerns.
Deposit flows at U.S. banks, including regional lenders, climbed to $17.16 trillion in the week ended May 3, marking the first increase in four weeks, according to Federal Reserve data.on contagion from the failures of other regional banks and said regulators did not express concerns regarding the bank's strategy, liquidity, or management performance.
A total of over $100 billion in deposits were withdrawn from the bank in recent weeks, a time of industry-wide panic about soundness of regional banks, Roffler said in preparedReporting by Niket Nishant in Bengaluru; Editing by Devika SyamnathChibuike reports on mostly large U.S.-based private equity firms, including Blackstone, KKR, Carlyle, and Apollo. He previously worked at Bloomberg News, and holds master's degrees in journalism from New York University and Edinburgh Napier University.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here are Wednesday's biggest analyst calls: Tesla, Wynn, Walmart, Alphabet, Western Alliance & moreBernstein sees trouble for Tesla. Bank of America upgraded a mobile tech stock.
Read more »
US regional bank shares jump on Western Alliance deposits growthShares of U.S. regional lenders climbed on Wednesday, looking to break out of range-bound trading as an update on Western Alliance Bancorp's deposit levels soothed concerns that the banking crisis was getting worse.
Read more »
Western Alliance’s Deposit Growth Powers Regional Bank RallyShares of US regional banks rallied in premarket trading after Western Alliance Bancorp said deposits grew by more than $2 billion since the quarter’s end, easing worries about the health of US regional lenders.
Read more »
Western Alliance Bancorp stock up 10% after deposits grow; regional bank stocks climbWestern Alliance Bancorp’s stock is up 10% in premarket trades Wednesday after it said its deposits have grown by $2 billion during the second quarter. As of...
Read more »
Stocks making the biggest premarket moves: Western Alliance, TJX, Wynn, Tesla & moreThese are the stocks posting the largest moves in the premarket.
Read more »
Western Alliance stock jumps 8% on Q2 deposit growth exceeding $2 Billion By Investing.com⚠️BREAKING: *WESTERN ALLIANCE STOCK JUMPS 12% ON STRONG Q2 DEPOSIT GROWTH, SPARKING RALLY IN REGIONAL BANK SHARES
Read more »