The third-quarter earnings season is starting, but bank stocks remain under pressure. Rising Treasury yields can reduce the value of banks’ bond holdings, narrow lending margins, and slow loan demand, even though higher rates can also help banks earn more. The State Street Financial Select Sector SPDR ETF (XLF) is up just slightly year-to-date (YTD) but up about 5% over the past 52 weeks.
Northpointe Bancshares (NPB), meanwhile, has raised its dividend shortly after its first anniversary as a public company. On Oct. 6, Northpointe Bancshares’ board declared a quarterly payment of $0.03 per common share, a 20% increase from $0.025.
