Why Bank Stocks Like Bank of America Shot Higher Today
It seems the U.S. banking system won't collapse after all...at least for now. An unexpectedly bullish update from a regional lender many thought was at risk of collapsing bolstered bank stocks on Wednesday.
Quite a few saw notable, market-beating gains, including Bank of America (NYSE: BAC), which closed the day 4.4% higher, and JPMorgan Chase (NYSE: JPM) with a 3% gain. They were joined by U.S. Bancorp (NYSE: USB) and next-generation lender Upstart Holdings (NASDAQ: UPST) advancing a respective 6.2% and 10.4%.
Banks got off to a rocking start on Wednesday thanks to the latest news from the supposedly vulnerable Western Alliance (NYSE: WAL). The company said that its deposit base has grown by $1.8 billion on a quarter-to-date basis, and by $600 million since May 2, to reach over $49 billion. Of that latter total, around 79% of deposits are insured by the government's Federal Deposit Insurance Corporation (FDIC).
Source Fool.com
JPMorgan Chase & Co. Aktie
Und JPMorgan Chase & Co. steht derzeit mit 34 Buy-Einschätzungen und keiner einzigen Sell-Einschätzung bei unserer Community hoch im Kurs.
Das Community-Kursziel von 202 € für JPMorgan Chase & Co. deutet auf ein leicht positives Wachstumspotenzial gegenüber 197.24 € hin.
