Rising rates recently prompted Citigroup analysts to their stock price estimates for 10 regional banks, and predicted that other analysts would soon follow suit, reports Christina Rexrode for the Associated Press.
Positive catalysts such as positive earnings revisions and analyst upgrades for KRE constituents would be icing on the cake for an ETF that jumped 6.1% last week while hitting a new 52-week high last Friday. KRE’s top-10 holdings include SVB Financial (NasdaqGS: SIVB), Cullen-Frost (NYSE: CFR) and Warren Buffett favorite M&T Bank (NYSE: MTB).
SPDR S&P Regional Banking ETF
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of KRE.