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Bank of America is a large and complex financial institution. The bank's dividend yield is historically high, but not exactly high on an absolute basis.
There are more than 200 ETF providers in the $8 trillion U.S. ETF market, but I'm intrigued by a recent entrant's ambitions. In December 2023, Themes ETFs introduced 11 ETFs.
Thomas Michaud, KBW president and CEO, joins 'Squawk on the Street' to discuss what the chief executive makes of the commercial real estate sector's impact on the banks, the gap between the bulge bracket banks and the others, and much more.
Ebrahim Poonawala, head of North American banks research at BofA Securities, joins 'Power Lunch' to discuss the risks to U.S. banks and headwinds the sector faces.
Lagged effects of higher interest rates are still filtering through the economy, potentially impacting bank earnings. For example, New York Community Bancorp recently reported dismal Q4 results due to provisions for CRE and multi-family loans. With a looming $1.2 trillion wall of mortgage maturities in the next 2 years, I believe regional bank earnings will still face headwinds.
I'm kicking KBE "off the island," which is my 100 ETF watchlist. Regional bank stocks have rallied after a crushing last March, but there's too much risk of a second shoe dropping here. This might not be a Bear-Stearns/Lehman 1-2 punch, but I remain skeptical that the fundamental issues for this segment of financial stocks are over.
The 'Fast Money' traders talk banking and capital requirements with guest trader Rebecca Patterson.
The Investment Committee breaks down the significant bank earnings and picks their favorite name in the sector.
The SPDR S&P Bank exchange-traded fund is down 18% this year
Concerns about banks may have eased, but the sector is nowhere near out of the woods. Cyclical headwinds will continue to weigh on earnings next year, along with mounting structural headwinds. The regional-heavy KBE has de-rated this year but isn't all that cheap relative to its deteriorating fundamentals.