Bank of America, Wells Fargo, and JP Morgan Chase all rallied early this week along with the broader market.
MarketBeat.com - MarketBeat Net interest income and margins have increased as interest rates have increased. That happens when rates rise.
Investment opportunities can be found in regional banks. Unless you live in an area where one of these banks operates, they aren't obvious candidates that fall under the Peter Lynch "buying what you know" category. You can find a screener on MarketBeat.com that can help you identify some names.
First Citizens is a regional bank based in North Carolina that has branches in 19 states and Washington, DC. It is the largest company in the southeast/regional bank sub- industry.
The stock has been performing better than the financial sector as a whole. In the past month and three months, shares have increased.
According to data from MarketBeat, the stock has a Moderate- Buy rating with a price target of $925.
The stock had a cup with a handle on September 12. It regained its price line after closing below its 50-day moving average for a week. It is currently above its 10- and 21- day moving averages.
Wall Street expects the company to report net income of $19.77 per share on revenue of $1.02 billion in the third quarter. The increases would be more than double.
Analysts think the company will earn $68.33 per share in the full year, up 29% over the previous year. That will go up an additional 31% to $91.05 per share next year.
Other banks will benefit from a rising rate environment and some are already showing share-price appreciation.
Fulton Financial is currently performing better than financials as a whole. In the past month and three months, the stock has increased in value.
Either the higher end of the small-cap categorization or the lower end of the mid-cap is what Fulton has.
A potential buy point is above $17.67. Since August, it has been below that point.
Fulton has topped earnings views in five of the last six quarters. The company met views in the last quarter of the year.
The third quarter of Fulton will be reported on October 18. The company's revenue is expected to be $198.64 million. Positive guidance can offset declines in revenue or earnings and send the stock up.
Fulton has a lot of operations in several states.
Larger, more well-known super-regional banks include: The bank has more than 2,600 branches in the northeastern part of the country. Since January, the stock has been in a correction, but so far, has found a floor between $150 and $150.
U.S.Bancorp is down 24.3% year-to-date. Since January, it's been corrected. It is not clear if it has a price floor.
It is not always the largest, most well-known names that offer the best opportunities. When a stock is holding up better than the broader market, it may be a good idea to avoid the most beaten-down stocks.
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