On Dec. 14, 2016, the federal funds rate was hiked by 25 basis points to 0.75%. More hikes are expected in 2017, but early this month, Fed FOMC members decided to maintain the interest rate at 75% for the time being without ruling out further increments. The next meeting of the Fed is slated for Wednesday, March 15, and analysts believe that the current rate of 0.75% will hold.
Last week Fed chair Janet Yellen met before a congressional committee and discussed all aspects of the U.S. economy. The vice chairman of the Federal Reserve Bank, Stanley Fischer, made it clear that the U.S. economy is fast approaching full employment. This means that interest rates will rise gradually.
The Fed had set an inflation target of 2%, and the economy is steadily moving toward this objective. As of January 2017, the US inflation rate was pegged at 2.5, which is more than the rate the Fed had targeted in order to initiate a second rate hike. On Thursday, Feb. 16, Fischer made it clear that the Fed is on track for another 25-basis point rate hike, but no specifics were provided.
Top 5 Bank Stocks To Buy Right Now: Regions Financial Corporation(RF)
- [By Sean Williams]
Income investors often turn to bank stocks when looking for a steady dividend, but few offer the dividend growth potential of Southeastern regional bankRegions Financial (NYSE:RF).
- [By Jon C. Ogg]
In the super-regional banks that are not money center banks, Regions Financial Corp. (NYSE: RF) was up 6.3% at $13.22, and Zions Bancorporation (NASDAQ: ZION) was last seen up 3.8% at $38.30. They would both do better with lower regulatory costs and be able to better compete against larger banks when their stress test results had not been as strong.
Top 5 Bank Stocks To Buy Right Now: North American Energy Partners, Inc.(NOA)
- [By Lisa Levin]
In trading on Tuesday, energy shares slipped by 1.36 percent. Meanwhile, top losers in the sector included Northern Oil & Gas, Inc. (NYSE: NOG), down 9 percent, and North American Energy Partners Inc.(USA) (NYSE: NOA), down 6 percent.
Top 5 Bank Stocks To Buy Right Now: Greenlight Capital Re Ltd.(GLRE)
- [By Jim Robertson]
Note that hedge fund mogul David Einhorn has been a director ofthe predecessor company since May 2006. Mr. Einhorn co-founded, and has served as the President of, Greenlight Capital, Inc., since January 1996. Funds managed by Greenlight are some ofthe Companys principal stockholders. Since July 2004, Mr. Einhorn has served as Chairman of the Board of Greenlight Capital Re, Ltd (Nasdaq: GLRE).
Top 5 Bank Stocks To Buy Right Now: Cancer Genetics, Inc.(CGIX)
- [By Lisa Levin] Related HTGM 20 Biggest Mid-Day Losers For Thursday 25 Stocks Moving In Thursday's Pre-Market Session HTG Molecular Diagnostics Obtains CE Mark for its HTG EdgeSeq ALKPlus Assay EU (GuruFocus) Related SSH 15 Biggest Mid-Day Gainers For Wednesday 12 Biggest Mid-Day Losers For Tuesday Healthcare – Top 5 Gainers / Losers as of 11:00 am (Seeking Alpha) Gainers HTG Molecular Diagnostics Inc (NASDAQ: HTGM) rose 63.6 percent to $3.50 in pre-market trading after the company disclosed that it has obtained CE marking in the EU for HTG EdgeSeq ALKPlus Assay. Sunshine Heart Inc (NASDAQ: SSH) rose 20.3 percent to $2.61 in pre-market trading after the company issued a business update regarding execution of its strategic growth plan. bebe stores, inc. (NASDAQ: BEBE) shares rose 11.1 percent to $4.29 in pre-market trading after the company disclosed that it is exploring strategic alternatives. Cancer Genetics Inc (NASDAQ: CGIX) rose 10.3 percent to $3.20 in pre-market trading after the company posted a narrower-than-expected quarterly loss. Five Below Inc (NASDAQ: FIVE) rose 8.8 percent to $41.50 in pre-market trading after the company reported better-than-expected earnings for its fourth quarter. FireEye Inc (NASDAQ: FEYE) rose 8 percent to $12.40 in pre-market trading. Goldman Sachs upgraded FireEye from Sell to Buy. PVH Corp (NYSE: PVH) shares rose 7.4 percent to $97.60 in pre-market trading after the company posted upbeat earnings for its fourth quarter and issued a strong earnings forecast. Bitauto Hldg Ltd (ADR) (NASDAQ: BITA) shares rose 7 percent to $26.00 in pre-market trading after dropping 1.30 percent on Wednesday. Pingtan Marine Enterprise Ltd (NASDAQ: PME) rose 6.6 percent to $4.50 in pre-market trading after gaining 0.48 pe
- [By Lisa Levin]
Shares of Cancer Genetics Inc (NASDAQ: CGIX) got a boost, shooting up 17 percent to $3.39 after the company posted a narrower-than-expected quarterly loss.
Top 5 Bank Stocks To Buy Right Now: Federated Investors, Inc.(FII)
- [By Gregg Greenberg]
Stocks of Federated Investors (FII) fell approximately 9% in 2015, yet Oja expects a big turnaround in 2016, once again due to the prospect of higher rates ahead.
"The money market fund business, which is unprofitable now, should become more profitable as rates rise because Federated has to reimburse for the servicing fees for these funds," said Oja, who also admires the fund company’s 3.5% dividend yield.
Oja added that Federated also has a "good core business of equity and fixed-income asset management."