This Stock Just Hit a New 52-Week High

January 4, 2017
By

SMALL BANKS ARE SKYROCKETING

Last November, we discussed the huge rally in the financial sector…

Regular DailyWealth readers know we monitor America’s big banks, like JPMorgan (JPM), Bank of America (BAC), and Citigroup (C). These firms are America’s “financial backbone.”

They rise and fall with America’s ability to make money, save money, service debts, and generally “just get along.”

Regional banks like M&T Bank (MTB) – which operates in the mid-Atlantic and northeastern U.S. – tend to amplify the results of the big banks.

When big banks rise, smaller banks rise more (and vice versa).

With global interest rates on the rise, smaller banks are surging…

As you can see in the chart below, MTB shares have thrived over the past year, recently hitting a new all-time high.

They’re up nearly 60% from their February lows. With three additional interest-rate hikes expected this year, M&T Bank shares ought to continue their uptrend…

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Source: Daily Wealth’s Market Notes



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