NYSE:BANCBanks
A Fresh Look at Banc of California’s (BANC) Valuation After Powell’s Rate Comments Spark Bank Rally
When Fed Chair Jerome Powell hinted at a softer stance on interest rates during his Jackson Hole remarks, it was as if someone flipped a switch for regional banks. Banc of California (BANC) reacted quickly to the rally, with its shares climbing nearly 5% in a single day. For investors, Powell’s comments provided a welcome break from anxiety over high funding costs that have been weighing on the sector for much of the year.
This policy shift comes at an intriguing moment for Banc of...