Morgan Stanley sees slower loan growth for midcap banks [Seeking Alpha]
SVB Financial Group (SIVB)
Last svb financial group earnings: 4/23 04:06 pm
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Source: Seeking Alpha
Morgan Stanley sees slower loan growth and fewer interest rate increases hurting midcap bank fundamentals next year, Bloomberg reports. The market is valuing bank shares as if a recession is nearing, and investors don't want to add to their exposure “without clearer indicators of accelerating economic growth” that are unlikely to arise soon, analyst Ken Zerbe writes in a note. Loan growth may be restrained as banks encounter intense competition from non-bank lenders and as the economy slows. Stock buybacks may help. Several banks, including SVB Financial Group ( SIVB ), Signature Bank ( SBNY ), Comerica ( CMA ), and Synovus Financial ( SNV ), have started programs are plan to. Morgan Stanley includes those banks in its top overweight recommendations, as well as Citizens Financial ( CFG ) and KeyCorp ( KEY ). The bank includes Webster Financial ( WBS ) and Commerce Bancshares ( CBSH ) on its underweight list. SPDR S&P Regional Banking ETF ( KR
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