Wall Street Fundamentals Releases New In-Depth Stock Reports on FITB, KEY, RF and STI
Regional banks have been some of the biggest gainers in the S&P 500 recently as markets rallied on a strong U.S. jobs report. The SPDR KBW Regional Banking ETF (NYSEARCA: KRE) has gained approximately 4.6 percent in the past week. On Friday, the Labor Department reported the U.S. added 195,000 jobs in June sending the yield on 10-year Treasury notes to a high of 2.719 percent, the highest since August 2011. Regional bank are likely to benefit from rising rates as it would help ease pressure on net interest margins. As a result Citigroup has recently upgraded price target estimates for 10 regional banks.
Fifth Third Bancorp (NASDAQ: FITB) shares traded in the range of $18.55 to $18.81 Tuesday before settling to close at $18.80, an increase of 1.18 percent. The stock appears to be facing some resistance at $19.68 with support at the $18.56 and $18.23 levels. Shares of Fifth Third Bancorp have gained approximately 4.2 percent in the past week and up over 23 percent in 2013.
More information on Fifth Third Bancorp and access to the free equity report can be found at:
www.WallStreetFundamentals.com/FITB
KeyCorp (NYSE: KEY) shares traded in the range of $11.81 to $12.01 Tuesday before settling to close at $11.88, a decrease of 0.25 percent. The stock appears to have some support at the $11.73 and $11.32 levels. Shares of KeyCorp have gained approximately 7.6 percent in the past week and up over 41 percent in 2013.
More information on KeyCorp and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KEY
Regions Financial Corporation (NYSE: RF) shares traded in the range of $10.04 to $10.27 Tuesday before settling to close at $10.20, an increase of 0.49 percent. The stock appears to be facing some resistance at $10.23 with support at the $9.96 and $9.56 levels. Shares of Regions Financial have gained approximately 7.0 percent in the past week and up over 43 percent in 2013.
More information on Regions Financial and access to the free equity report can be found at:
www.WallStreetFundamentals.com/RF
SunTrust Banks, Inc. (NYSE: STI) shares traded in the range of $33.75 to $34.64 Tuesday before settling to close at $34.33, an increase of 0.79 percent. The stock appears to be facing some resistance at $35.39 with support at the $33.11 and $32.53 levels. Shares of SunTrust Banks have gained approximately 7.3 percent in the past week and up over 21 percent in 2013.
More information on SunTrust Banks and access to the free equity report can be found at:
www.WallStreetFundamentals.com/STI
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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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