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Regional Banks Surge: Earnings Propel Rebound From Key Support Level At 200-Day Average

Benzinga ·  Apr 22 12:10

Regional bank stocks, as represented by theSPDR S&P Regional Banking ETF(NYSE:KRE), have experienced a noticeable rebound after recently hitting the 200-day moving average support.

This positive movement follows a series of strong earnings aQ1 2024 reports from sector players.

Despite this uptick, the gauge still remains nearly 20% below its pre-March 2023 crisis level, a stark reminder of last year's turmoil in the regional banking sector.

Chart: Regional Banks Rebound Off 200-Day Support Line

Analyst Insights And Key Stock Valuation

"Regional banks with strong deposit franchises are well-positioned in a structurally higher rate environment," said Ebrahim H...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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