Wall Street Fundamentals Releases New In-Depth Stock Reports on PNC, SNV, STI and ZION
Regional banks have posted admirable gains in 2013. The SPDR KBW Regional Banking ETF has gained approximately 15.45 percent year-to-date, keeping pace with the Financial Select Sector SPDR ETF’s (NYSEARCA: XLF) gain of 19.3 percent. While the current low interest rate environment has increased lending activity it has negatively impacted banks’ margins. A sudden rise in interest rates would help ease the current pressure on banks’ margins. “A 100 basis point -- 1 percentage point -- rise would likely be positive for banks because it will boost margins without meaningfully hurting book value.” Shanthi Bharatwaj wrote in an article for TheStreet.com.
PNC Financial Services (NYSE: PNC) shares traded in the range of $70.70 to $71.95 Friday before settling to close at $71.00, a decrease of 1.06 percent. The stock appears to be facing resistance at $71.48 with some support at $69.55. The company is scheduled to release results for the second quarter of 2013 Wednesday, July 17th. Shares of PNC Financial Services have gained approximately 21.8 percent in 2013.
More information on PNC Financial Services and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PNC
Synovus Financial Corp. (NYSE: SNV) shares traded in the range of $2.66 to $2.76 Friday before settling to close at $2.68, a decrease of 0.74 percent. The stock appears to be facing resistance at $2.71 with some support at $2.63. The company reported pre-tax income increased to $46.6 million for the first quarter of 2013, an increase of 29.6 percent year-over-year. Shares of Synovus Financial have gained approximately 9.4 percent in 2013.
More information on Synovus Financial and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SNV
SunTrust Banks, Inc. (NYSE: STI) shares traded in the range of $30.87 to $31.77 Friday before settling to close at $31.09 a decrease of 2.69 percent. The stock appears to be facing some resistance at $31.84 with some support at $30.48. The company reported a net income of $340 million, or $0.63 per diluted share, for the first quarter of 2013, compared to earnings per share of $0.46 in the year ago quarter. Shares of SunTrust Banks have gained approximately 9.7 percent in 2013.
More information on SunTrust Banks and access to the free equity report can be found at:
www.WallStreetFundamentals.com/STI
Zions Bancorporation (NASDAQ: ZION) shares traded in the range of $26.83 to $27.77 Friday before settling to close at $36.96, a decrease of 2.07 percent. The stock appears to be facing resistance at $27.44 with some support at $26.49. The company is expected to release results for the second quarter of 2013 before market open on Monday, July 22nd. Shares of Zions Bancorporation have gained approximately 9.6 percent in 2013.
More information on Zions Bancorporation and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ZION
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Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
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