2023-07-20 14:51:14 ET
Bank stocks ripped higher this week as second-quarter earnings reports began to come out, giving investors a sigh of relief and allowing them to buy the group from low valuations.
Shares of the large brokerage Charles Schwab (NYSE: SCHW) traded roughly 15.4% higher for the week as of 12:45 p.m. ET Thursday, according to data from S&P Global market Intelligence . Meanwhile, shares of KeyCorp (NYSE: KEY) also traded more than 16.2% higher, while shares of Citizens Financial Group (NYSE: CFG) were up nearly 11%.
Earlier this week, Schwab reported adjusted earnings per share of $0.75 on total revenue of roughly $4.66 billion, both numbers beating consensus estimates.
For further details see:
Why Shares of Charles Schwab, KeyCorp, and Citizens Financial Are Rising This Week