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TFC - Don't Be Too Stressed About The Banks: Look For A Recovery In The Regional Banks Following Release Of Stress Test Results
Truist Financial Corporation
Back in January 2019, we published an article touting the outperformance potential of the regional bank sector in an article entitled "Regional Banks Poised for Outperformance in 2019." The thesis played out as anticipated, as the KBW Bank Index (BKX) generated a +36% total return in 2019 vs. +31% for the S&P 500. Given the economic environment and valuation of the banking sector in early 2020, we sat on the sidelines waiting for an optimal opportunity to reinvest in the sector. Given the substantial underperformance thus far in 2020 (BKX down