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Jamie Dimon, Managing Director of JPMorgan Chase & Co., speaks during a House Financial Services Committee hearing in Washington, DC, the United States, Wednesday, April 10, 2019.
Andrew Harrer | Bloomberg | Getty Images
Bank stocks made a fierce comeback from 2020 lows, when investors feared pandemic loan losses and low interest rates would squeeze the industry.
After being one of the least popular sectors for most of last year, the KBW Bank index and lenders, including JPMorgan Chase and Goldman Sachs, all rose by at least 11% in 2021.
Building on the momentum, analysts have turned bullish for the sector, raising price targets as they anticipate vaccines will reopen the US economy, while next rounds of government stimulus will support borrowers, eventually allowing banks to release some of the tens of billions of dollars set aside last year for loan losses.
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