Why Bank of America, US Bancorp, and Synovus Financial Rose More Than 13.7% in February
Shares of Bank of America (NYSE: BAC), US Bancorp (NYSE: USB), and Synovus Financial (NYSE: SNV) rose 17.1%, 16.7%, and 13.7%, respectively, in February, according to data provided by S&P Global Market Intelligence. All three banks had released their fourth-quarter reports in late January, and there wasn't much company-specific news during February. The big monthly move was therefore largely due to the same macroeconomic factors.
The gains were no less intriguing, however, and if the economic picture continues to improve along the same lines, more gains could be ahead for these rock-solid bank stocks.
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Source Fool.com
