Sector Update: Regional Banks 1% Lower As Some Suggest Financial Group Overvalued

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The S&P Regional Bank Select Index is 1% lower today after gaining 41% year-to-date compared to the S&P 500's increase of 28.7%.

Yesterday, CNBC highlighted the financials in a live broadcast segment suggesting financial stocks could be overvalued and "statistically" due for a correction. But it was also noted in this segment that fundamentally the group remains interesting to some investors, including Blackrock ( BLK ).

Regional Banks taking the biggest hit today are those stocks that have experienced impressive year-to-date advances including KeyCorp ( KEY ) down 1.5%, but up 45% year-to-date; PNC Financial ( PNC ) down 1.7%, up 30% year-to-date; And, US Bancorp ( USB ) down 1.7%, yet up 19% year-to-date.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: BLK , KEY , PNC , USB

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