Investment thesis
Over the past 12 months, profitability fundamentals have continued to soften and bank valuations appear to already reflect an unchanged future economic outlook. Barring unforeseen Fed activity, shares of the Regional Banking (KRE) group seem range-bound near current levels until there is either sustainable proof of an economic rebound or US/Chinese trade talks move toward a more conclusive standpoint.
Banks continue to have a tough run
I can't remember if it was a friend, John Maynard Keynes, or both who said, “The long run is nothing more than a series of