In addition, Citigroup’s stock fell 2.20% after posting a mixed earnings report. IYG, XLF and KBWB all have holdings in both Citigroup and Wells Fargo.
That being said, their fortunes can change on Monday if BofA’s projections hold true. Following the release of BofA’s first quarter earnings, CEO Brian Moynihan was brimming with confidence when speaking about the sustainability of the bank’s future growth.
“Our responsible growth model continues to deliver consistent results,” said Moynihan. “We continue to invest in new capabilities in our mobile banking app, the expansion and renovation of our financial centers and the hiring of additional client relationship professionals. We believe these investments, and our focus on operational excellence, will drive sustainable growth over time.”
IYG is currently the only ETF in the green year-to-date based on Yahoo! Finance performance figures. IYG is up 0.04% YTD while XLF and KBWB are both down 3.97% and 1.85%, respectively.
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