By Matt Phillips
Fairly quietly, smaller regional banks did really well this week.
Marshall & Ilsley: Up 18%.
Regions Financial: Up 16%.
Huntington Bancshares: Up 15.1%
Fifth Third: Up 11.8%
Zions Bancorp: Up 9.8%
KBW Regional Banking Index: Up 5.7%
Why? Well this helped. ?Also Fitch boosted its outlook on KeyCorp to stable, saying the Ohio-based regional bank’s recent improved results are sustainable.
For what it’s worth, the giant banks didn’t have such a shabby week either, Citigroup was up 8.2%. Wells Fargo, which is somewhere between a regional and a giant, was up 9%. Bank of America was up 6.7%. J.P. Morgan rose 5.6%.
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