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SPDR® S&P Regional Banking ETF is a Sell for me, as I see little evidence that the banking woes of 2023 are past us. Same for those of 2008! The KRE ETF's "modified equal weighting" system still leads to a top-heavy mix of banks whose stock prices correlate at the worst time, when there's a crisis. I see KRE as a "rental position only" and not a long-term consideration for my ETF portfolio.
Bloomberg published an article on March 11 about the GraniteShares 2x Long NVDA Daily ETF (NASDAQ: NVDL ). Without further reading, I immediately thought this was one of the exchange traded funds (ETFs) to avoid as the S&P 500 hits all-time highs.
As if SVB Financial wasn't enough of a lesson for do-it-yourself investors that bank stocks are a terrible idea, the New York Community Bancorp (NYSE: NYCB ) debacle is a second reminder in the past year that all but the savviest investors avoid bank stocks. Unlike most stocks, banks have a completely different set of financial statements from non-financial companies.
The SPDR S&P Regional Banking ETF (KRE) made its debut on 06/19/2006, and is a smart beta exchange traded fund that provides broad exposure to the Financials ETFs category of the market.
Guggenheim Securities Co-Chair Jim Millstein says the community bank system is sound and the recent issues are idiosyncratic during an interview with Sonali Basak on "Balance of Power."
Banks are quietly starting to experience larger loan and investment losses, particularly in commercial real estate loans. Financial institutions from New York to Munich to Tokyo are reporting surprising losses from commercial real estate.
The SPDR S&P Regional Banking ETF (KRE) and iShares US Regional Banks ETF (IAT) have moved into a correction in the past few weeks, falling by over 13% from the YTD high. KRE has retreated to $46.83 while IAT has moved below $40.
Shares of regional banks were hit especially hard on Tuesday after an inflation reading came in surprisingly strong, raising more concerns about potential fallout to commercial real estate from higher interest rates.
Chris Marinac, Janney Montgomery Scott, joins 'Fast Money' to talk the state of regional and big banks after both sectors sunk in today's sell off.
Shares of New York Community Bancorp are down yet another day. Consider that one measure of small banks has been flat for nearly two decades.