SPDR® S&P Regional Banking ETF

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  • uploads///goldcboe
    Company & Industry Overviews

    How Stocks and Bonds Reacted to Trump’s Victory

    The CBOE Volatility Index suddenly rose 6.0% on November 9, 2016, after it was clear that Trump had unexpectedly clinched the election.

    By Russ Koesterich, CFA
  • uploads///Bank Profitability Has Taken a Hit Since Dodd Frank Regulations
    Real Insights

    Is the Financial Sector Set to Outperform?

    In addition to the promising signs of the financial sector passing the rigor of this stress test, talk of deregulation makes the financial sector even more attractive.

    By Tidal Growth Consultants
  • uploads///manufacturing at a glance
    Macroeconomic Analysis

    PMI Index: Component Growth Impacts Banks

    A growing economy definitely benefits the banking sector. The impact will be positive for big banks and also for regional banks.

    By Rekha Khandelwal, CFA
  • uploads///Market action
    Macroeconomic Analysis

    How Markets Could Respond to the Fed’s Hawkish Stance

    Equity markets trended lower after the Fed’s March meeting minutes were reported. In the minutes, some FOMC members sound concerned about the rise in equities.

    By Ricky Cove
  • uploads///us
    Macroeconomic Analysis

    US Markets Flat as Unemployment Claims Rise

    The US dollar index was trading on a lower note on March 31, 2016, at 2:30 PM EST as unemployment added further uncertainty to the US rate hike.

    By David Meyer
  • uploads///dbafeededdcae
    Macroeconomic Analysis

    Why Small-Cap Banks Have Been Underperforming

    Small-cap banks have been underperforming due to the yield curve that has been flattening since the start of 2014.

    By Russ Koesterich, CFA
  • uploads///pb pbv
    Earnings Report

    How Has Prosperity Bancshares Performed in a Competitive Market?

    Competitors have outperformed Prosperity Bancshares based on forward PE and PBV. The ETFs have outperformed Prosperity Bancshares based on price movement, PE, and PBV.

    By Gabriel Kane
  • uploads///Telecom and Utilities Have the Highest Dividend Yield Among the Major Industries
    Macroeconomic Analysis

    Why Dividend Stocks Have Underperformed This Year

    Dividend stocks have underperformed this year so far. The dividend yield measures dividends payed by a company in the last 12 months relative to its share price.

    By Sanmit Amin
  • uploads///non interest income
    Earnings Report

    Regions’ Wealth Management Business Posts Strong Growth in 1Q15

    Regions Financial’s (RF) Wealth Management revenue increased 10% YoY. Going forward, It intends to focus on growing its wealth management business.

    By Rekha Khandelwal, CFA
  • Financials

    Bank stress tests and enhanced US banking institution standards

    Signs of financial stress in Global Systemically Important Banks (or GSIBs)—like Citigroup and JPMorgan (or JPM)—would impact the entire financial system. The signs of stress would impact stocks and bonds (BND). As a result, it’s important that the Fed and other regulators establish a suitable regulatory and supervisory framework.

    By Phalguni Soni
  • Financials

    Financial intermediation, systemic risks, and “too big to fail”

    When financial intermediaries allocate funds, they assess the risks and returns that come from various risky claims. Intermediaries help allocate resources and risks throughout the economy. Financial intermediation can result in concentrated risks. The risks increase the financial system’s fragile state. These risks are called systemic risks.

    By Phalguni Soni
  • uploads///fnfg pm
    Earnings Report

    First Niagara Financial Reported Mixed 3Q15 Results

    Currently, First Niagara Financial Group is trading at 1.5% above the 20-day moving average, 9.0% above the 50-day moving average, and 16.8% above the 200-day moving average.

    By Gabriel Kane
  • uploads///KRE MA
    Miscellaneous

    The KRE ETF Is Trending Downward since December 28

    The SPDR S&P Regional Banking ETF (KRE) targets US regional banks. It seeks to track the performance of the S&P Regional Banks Select Industry Index.

    By Rebecca Keats
  • uploads///The SP  Has Seen Multiple Expansion in the Last  Years
    Macroeconomic Analysis

    Stock Valuations Are Rich: Value Lies in Certain Sectors

    Investors are ready to pay a premium to own shares. Stock valuations are rich. They’re sensitive to rising interest rates. Don’t abandon them though—just be selective.

    By Russ Koesterich, CFA
  • uploads///KRE MA
    Company & Industry Overviews

    KRE Traded above Its Moving Averages, Led Financial Sector ETFs

    KRE seeks to track the performance of the S&P Regional Banks Select Industry Index,
    particularly targets regional banks in the US. Shares of KRE have gained 11.4% YTD.

    By Rebecca Keats
  • uploads///bondindezes
    Real Insights

    What Does the Green Bond Index Look Like?

    Apprehensions over climate change, an emphasis on global pension funds over the integration of ESG in their investments, and new markets will fuel demand for this type of bond.

    By VanEck
  • uploads///October Election Poll
    Macroeconomic Analysis

    Will the Presidential Election Shrink Financial Institutions?

    The 2016 US presidential election is scheduled for November 8, 2016. This election will mark the 58th quadrennial US presidential election.

    By Penny Morgan
  • uploads///SPDR Feb
    Macroeconomic Analysis

    Banking SPDRs Got a Boost while Utility ETFs Traded Lower

    The 4Q15 GDP increased at an annual rate of 1.0% against a forecast of 0.4%. The banking sector took positive cues from the GDP report with major gains in banking stocks.

    By David Meyer
  • Financials

    Why equities could rally more

    Inflation rates have also been at bay over the last few years. Currently, inflation rates are 1.7%. This is below the Fed’s long-term target of 2%.

    By Russ Koesterich, CFA
  • Financials

    Why the liquidity coverage ratio impacts financial markets

    The LCR defines the amount of highly-saleable short-term securities and central bank reserves that must be held by financial institutions (XLF) (KRE). It’s the ratio of the High-Quality Liquid Assets (or HQLA) divided by the projected net cash outflows over a specified period. HQLAs help the institution meet its short-term funding requirements.

    By Phalguni Soni
  • Financials

    Why the yield curve impacts bank profitability

    Historically, a flatter yield curve had an adverse impact on the financial institutions’ returns. It lowered their net interest margins. The Fed continues to stress an accommodative monetary policy. The policy and strong overseas demand have kept yields low at the long end of the curve. As a result, the difference between 30-year and five-year Treasury yields fell to 154 basis points on September 5, 2014.

    By Phalguni Soni
  • Financials

    Why the banking sector is better, but with room for improvement

    Russ explains the good news behind his upgrade of the global financial sector as well as the bad news keeping his sector outlook somewhat subdued.

    By Russ Koesterich, CFA
  • Financials

    Must-know: Why the FDIC is the second major banking regulator

    The Federal Deposit Insurance Corporation (or FDIC) is the second most important banking regulator in the U.S. The FDIC directly examines and supervises more than 4,500 banks and savings banks for operational safety and soundness.

    By Saul Perez
  • uploads///rev eps fitb
    Financials

    How Fifth Third Bancorp Has Performed Recently

    Fifth Third Bancorp has an impressive free cash flow position.

    By Amanda Lawrence
  • uploads///HCN DIV
    Miscellaneous

    Welltower’s Dividend Yield Falls despite Higher Dividend

    Revenue and earnings In this part, we’ll look at Welltower (HCN), a US healthcare REIT. Welltower’s revenue growth slowed from 15% in 2015 to 11% in 2016. The growth was driven by all of its segments, through rental income, resident fees and services, interest income, and other income. Its operating costs and other expenses (including interest expenses) […]

    By Amanda Lawrence
  • uploads///
    Macroeconomic Analysis

    Why Are So Many Americans Quitting Their Jobs?

    As per the latest JOLTS report, about 3.2 million Americans quit their jobs voluntarily last month. This is an increase of 0.1 million from the previous month.

    By Ricky Cove
  • uploads///KRE ETF vs SP  Index Performance Comparison
    Real Insights

    Major Tailwinds for the Financial Sector

    With so many positive tailwinds for the financial sector, how can investors use ETFs to target this growth?

    By Tidal Growth Consultants
  • uploads///Financials Have Underperformed Broader Markets Year to Date
    Real Insights

    Banks Make It through the Fed’s Stress Test

    Despite and a rocky 3-month period, starting in late February/early March, the financial sector has really taken a positive outlook over the past ~month and some signs point to a continuation of this recent success.

    By Tidal Growth Consultants
  • uploads///Pueto Ricos Declining Economic Activity
    Macroeconomic Analysis

    Puerto Rico’s GDP Is Falling amid Low Expectations for 2017

    For years, Puerto Rico has been using tax incentives to attract corporations to do business in its region. Over the last four decades, the agricultural economy has shifted toward the manufacturing and services sectors.

    By Mary Sadler
  • uploads///FAS vs SPXL
    Miscellaneous

    How the Removal of Dodd-Frank Could Affect Banks

    While the Dodd-Frank Act was passed to avoid another financial crisis, it has crippled banks’ profitabilities over the years due to higher capital requirements.

    By Direxion
  • uploads///US Financial Sector Performance Since Adoption of Dodd Frank Act
    Company & Industry Overviews

    Does Dodd-Frank Act Need to Be Changed?

    Barack Obama signed the Dodd-Frank Act into federal law in 2010.

    By Mary Sadler
  • uploads///Flat Yield Curve Since the Recession Has Hit Small Cap Banks
    Macroeconomic Analysis

    Analyzing How the Yield Curve Impacts Small Caps

    Another factor that impacts small-cap stocks’ performance is the yield curve. The yield curve has remained on the flatter side since the recession.

    By Sanmit Amin
  • uploads///The Dodd Frank Regulations Have Taken A Toll On The Profitability Of American Banks
    Company & Industry Overviews

    Why Financials Have Soared since Trump’s Election

    The dismantling of Dodd-Frank regulations for banks should improve their profitabilities, which explains why their stocks have soared since Trump’s win.

    By Sanmit Amin
  • uploads///demorepub
    Company & Industry Overviews

    Which S&P 500 Sectors Do the Best for an Incumbent Democrat?

    The S&P 500 returns for a second-term president have been somewhat better than a first-term president, which is one reason for the incumbency factor.

    By Amanda Lawrence
  • uploads///US future GPS consensus
    Macroeconomic Analysis

    BlackRock’s Macro GPS Pulls on a Broader Set of Information

    Market participants struggle to reassess the macro outlook based on incoming data. The BlackRock Macro GPS tool exploits more sources of information.

    By Richard Turnill
  • uploads///spdr
    Macroeconomic Analysis

    Could the Rise in Retail Sales and CPI Impact Portfolios?

    The United States Census Bureau published the US retail sales report for June on July 15. Retail sales rose 0.6% in June on a month-over-month basis.

    By David Meyer
  • uploads///spdr
    Macroeconomic Analysis

    US Dollar Rises on Speculation of Stimulus Measures in Japan and UK

    The US dollar index, which measures the strength of the US dollar against the major currencies, was on a bull run on July 11.

    By David Meyer
  • uploads///ism
    Macroeconomic Analysis

    Strong ISM Non-Manufacturing PMI Overshadows Services PMI

    The non-manufacturing PMI is published by the ISM. It rose to the highest level since November 2015. The non-manufacturing PMI for May rose to 56.5.

    By David Meyer
  • uploads/// GICS Sector ETFs
    Financials

    GICS Sector: Rate-Sensitive ETFs Remain in Focus

    Rate-sensitive XLF saw the largest outflows among GICS sector ETFs on a weekly basis. But it was also the biggest fund flow loser in the first half of 2016.

    By Meikel Mokry
  • uploads///spdr
    Macroeconomic Analysis

    Why Did US Factory Orders Fall by 1.0% in May?

    New factory orders in the US fell by 1.0% in May—compared to the forecast of a fall of 0.8%. The factory orders for April were revised down to a rise of 1.8%.

    By David Meyer
  • uploads///spdr
    Macroeconomic Analysis

    Why Was There a Sharp Fall in US Durable Goods Orders?

    With Brexit out of the way, the focus will shift to domestic data releases. This week will see the release of US final GDP and US consumer confidence.

    By David Meyer
  • uploads/// GICS Sector Flows
    Miscellaneous

    GICS Sector ETFs: Investors Run for the Exits!

    During last week’s volatile trading session, investors pulled money out of all but two US GICS Sector ETFs. All of the sectors closed in negative territory.

    By Meikel Mokry
  • uploads///MA KRE
    Miscellaneous

    KRE Trades Near Its 100-Day Moving Average: Is This Bullish?

    With assets under management of $1.7 billion, KRE is the largest and most heavily traded regional bank ETF in the United States.

    By Rebecca Keats
  • uploads///KRE Flows
    Macroeconomic Analysis

    How Much Have Investors Withdrawn from KRE in 2016?

    Shares of KRE rose 2.1% last week. Year-to-date, shares of KRE have plunged 16%, dragged down by low oil prices and a slowing economy.

    By Rebecca Keats
  • uploads///labor
    Macroeconomic Analysis

    ADP Employment Report Release Strikes a Strong Note

    The ADP employment report often acts as a precursor to the Non-Farm Payrolls release by the Bureau of Labor Statistics, which is scheduled for March 4, 2016.

    By David Meyer
  • uploads///Interest Rates Remain Low Despite Rate Hike in December
    Macroeconomic Analysis

    What Can You Expect from Markets in 2016?

    While I don’t have a crystal ball, here are three things I believe all investors need to know about returns in 2016.

    By Rick Rieder
  • uploads///Electrc Cars Could See a Dramatic Rise in Demand in the Coming Years
    Macroeconomic Analysis

    Why Demand for Electric Vehicles Could Soar

    Q. Tell us more about your outlook for electric vehicles.

    By OppenheimerFunds
  • uploads///KRE Fundflows
    Macroeconomic Analysis

    Investors Plowed $477 Million into the KRE ETF in 2015

    Among the 214 13F filers holding the stock, 62 funds reduced their exposure to KRE, 49 sold all their holdings of the ETF, and 30 created new positions.

    By Rebecca Keats
  • uploads///Credit Growth in the US
    Macroeconomic Analysis

    How Zero-Bound Money Restricts Credit Growth

    Credit growth has started to slow in the Us. From the 12% annualized growth rate of commercial and industrial credit in 2014, the rate is currently around 10.8%.

    By Surbhi Jain
  • uploads///regional banks vs xlf
    Macroeconomic Analysis

    Evaluating Regional Banks’ Performance versus the Financial Sector in 2015

    Within XLF, banking stocks have returned -5.3% YTD as of November 13, while regional banks have returned -1.6% YTD, outperforming the financial sector.

    By Rebecca Keats
  • uploads///Regional banks
    Miscellaneous

    Midsize Banks Need a Breather from Excessive Regulations

    Banks have seen compliance costs rise since the Dodd-Frank Act regulations took effect. For small banks, it’s been harder to absorb these costs.

    By Rebecca Keats
  • uploads///Financials Make Up a Good Chunk of the iShares US Preferred Shares ETF
    Macroeconomic Analysis

    Is Now the Time for Preferred Stocks?

    Financials tend to do well when interest rates rise. Rates usually rise when the economy is improving.

    By Jane Leung, CFA
  • uploads///bpop pbv
    Earnings Report

    How Has Popular Performed in a Competitive Market?

    Based on PE and PBV, Popular’s competitors have outperformed. The ETFs that invest in Popular have also outperformed Popular based on price movement, PE, and PBV.

    By Gabriel Kane
  • uploads///bpop pm
    Earnings Report

    Popular’s Interest and Non-Interest Income Fell in 3Q15

    Year-to-date, Popular’s price movement is a mixture of ups and downs. After its 3Q15 earnings report, Popular stock fell 3.6% and closed at $30.26 per share on October 23, 2015.

    By Gabriel Kane
  • uploads///snv pbv
    Earnings Report

    How Does Synovus Financial Compare to Its Peers?

    The price-to-book value ratios of Synovus, BB&T, SunTrust Banks, Regions Financial, and Capital Bank Financial are 1.43x, 1.19x, 0.93x, 0.77x, and 1.37x.

    By Gabriel Kane
  • uploads///daily treasury yield curve
    Macroeconomic Analysis

    Banks Set to Profit from Steepening Yield Curve

    The yield curve has steepened a bit compared to where it was a week or even a month ago. Investors should consider the yield curve slope an indicator of bank performance.

    By Rekha Khandelwal, CFA
  • uploads///daily treasury yield curve
    Macroeconomic Analysis

    Why Does a Flattened Yield Curve Hurt Banks?

    Banks benefit from a steeper yield curve, which allows banks to lend on higher long-term rates and borrow on lower short-term rates. This boosts banks’ margins.

    By Rekha Khandelwal, CFA
  • uploads///expectations for
    Earnings Report

    Revenue Diversification: A Key Priority for Regions Financial

    During 1Q15, Regions Financial (RF) repurchased $102 million of common stock—completing its $350 million 2014 repurchase program.

    By Rekha Khandelwal, CFA
  • uploads///Differentiated platform
    Company & Industry Overviews

    An Introduction to KeyCorp and Its Banking Business

    KeyCorp is a large regional bank with about $94 billion in assets. It competes with JP Morgan (JPM) and Bank of America (BAC) in various service segments.

    By Rekha Khandelwal, CFA
  • uploads///etf holdings in keycorp
    Company & Industry Overviews

    Must-know: Investing in KeyCorp through ETFs

    KeyCorp (KEY) is represented in key ETFs focused on the banking sector. The SPDR S&P Bank ETF (KBE) has KeyCorp comprising ~1.7% of its portfolio.

    By Rekha Khandelwal, CFA
  • uploads///SunTrusts deposit growth
    Company & Industry Overviews

    SunTrust Bank’s Deposit Growth Lower than Industry Average

    STI’s deposit growth is clearly lagging behind the industry average. Other banks are experiencing strong growth in this area.

    By Rekha Khandelwal, CFA
  • uploads///Price to book ratios ROE
    Company & Industry Overviews

    BB&T’s Relative Valuation Is close to the Industry Average

    BB&T’s loan and deposit growth is marginally below the industry average. Its ROE and price-to-book ratio are close to the peer average.

    By Rekha Khandelwal, CFA
  • uploads///BBTs funding mix
    Company & Industry Overviews

    Why BB&T Has Low Funding Costs Compared to Its Peers

    Deposits are the cheapest funding source. Since deposits fund a major chunk of BB&T’s assets, the overall funding costs are low.

    By Rekha Khandelwal, CFA
  • uploads///Revenue Composition
    Company & Industry Overviews

    SunTrust: A Leading Bank in the Southeast

    SunTrust provides a broad range of consumer and wholesale banking, mortgage banking, and private wealth management services.

    By Rekha Khandelwal, CFA
  • uploads///price to book ratios relative to ROE
    Company & Industry Overviews

    Is SunTrust Bank’s Stock Undervalued?

    SunTrust Bank’s return on equity is 8%, which is 18% lower than the industry average.

    By Rekha Khandelwal, CFA
  • uploads///Suntrusts net interest margins
    Company & Industry Overviews

    Why SunTrust Has Lower Net Interest Margins

    SunTrust Bank’s net interest income in 2014 remained stable compared to 2013 as strong loan growth offset the decline in net interest margin.

    By Rekha Khandelwal, CFA
  • uploads///Loan growth
    Company & Industry Overviews

    SunTrust Bank’s Commercial Lending Experiences Strong Growth

    Since 2010, the loan portfolio of SunTrust Bank (STI) has had a compound annual growth rate (or CAGR) of 3.5%. Commercial loans have had a CAGR of 8.2%.

    By Rekha Khandelwal, CFA
  • uploads///Mortgage Banking
    Company & Industry Overviews

    SunTrust’s Mortgage Banking Focuses on Efficiency Improvement

    SunTrust’s Mortgage Banking segment reported a net loss of $56 million for 2014 compared to a net loss of $527 million for 2013.

    By Rekha Khandelwal, CFA
  • uploads///Wholesale banking
    Company & Industry Overviews

    Commercial Loans Drive SunTrust’s Wholesale Banking Growth

    The Wholesale Banking segment’s net interest income increased in 2014 compared to 2013.

    By Rekha Khandelwal, CFA
  • uploads///Dividend Yield
    Company & Industry Overviews

    SunTrust Bank Has a Lower Dividend Yield

    SunTrust Bank (STI) paid common dividends totaling $371 million or $0.70 per share in 2014.

    By Rekha Khandelwal, CFA
  • uploads///consumer banking and private wealth management
    Company & Industry Overviews

    Consumer Banking and Wealth Management: SunTrust’s Key Segment

    This article focuses on SunTrust’s Consumer Banking and Private Wealth Management segment.

    By Rekha Khandelwal, CFA
  • uploads///Dividend Yield
    Company & Industry Overviews

    BB&T Offers a Higher Dividend Yield Compared to Its Peers

    Dividend yield is a company’s annual dividend per share. It’s expressed as a percentage of its share price. Dividend yields are important if you want a regular stream of income.

    By Rekha Khandelwal, CFA
  • uploads///Capital markets delivery channel
    Company & Industry Overviews

    BB&T Focuses on Expanding Corporate Banking Services

    BB&T is focused on expanding its corporate banking services. It’s adding new industry verticals for lending and investment banking services.

    By Rekha Khandelwal, CFA
  • uploads///Geography of operations
    Company & Industry Overviews

    BB&T Corporation Is a Leading Bank in the Southeast Region

    BB&T Corporation (BBT) is a financial holding company. It conducts its operations primarily through its bank subsidiary—Branch Bank.

    By Rekha Khandelwal, CFA
  • uploads///Dividend Yield
    Company & Industry Overviews

    Regions Financial has low earnings and dividend growth

    Earnings are growing, but at a slow pace. Regions Financial’s (RF) net income increased by 1% in 2014—compared to 2013.

    By Rekha Khandelwal, CFA
  • uploads///Regions acquisitions
    Company & Industry Overviews

    Why inorganic growth works for Regions Financial

    A substantial portion of Regions Financial’s growth has been through the acquisition of other financial institutions. The bank was formed in 1971.

    By Rekha Khandelwal, CFA
  • uploads///business loan portfolio break up
    Company & Industry Overviews

    Regions Financial focuses on business loans

    Regions Financial’s loan portfolio can broadly be classified into business and consumer loans. Business loans account for ~62% of the total loan portfolio.

    By Rekha Khandelwal, CFA
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