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April 15, 2021, 1:58 p.m. EDT

Bank ETFs tumble even as earnings come in strong

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By Andrea Riquier

Exchange-traded funds tracking the banking sector fell Thursday even as big banks reported quarterly results that blew away analyst expectations. The broad Financial Select Sector SPDR Fund /zigman2/quotes/209660484/composite XLF +0.84% lost 0.5% midday Thursday, while funds more focused on banks were down more sharply: the Invesco KBW Bank ETF /zigman2/quotes/202716924/composite KBWB +0.25% slid 1.7% and the First Trust Nasdaq Bank ETF /zigman2/quotes/204254219/composite FTXO -0.59% was off 1.2%. Shares of JPMorgan Chase /zigman2/quotes/205971034/composite JPM +1.68% , which reported on Wednesday, were flat, but Citigroup Inc. /zigman2/quotes/207741460/composite C +0.83% and Well Fargo & Company /zigman2/quotes/203790192/composite WFC +0.77% both lost 0.7%.

/zigman2/quotes/209660484/composite
US : U.S.: NYSE Arca
$ 37.34
+0.31 +0.84%
Volume: 29.23M
May 6, 2021 3:06p
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/zigman2/quotes/202716924/composite
US : U.S.: Nasdaq
$ 67.57
+0.17 +0.25%
Volume: 339,899
May 6, 2021 3:04p
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/zigman2/quotes/204254219/composite
US : U.S.: Nasdaq
$ 32.27
-0.19 -0.59%
Volume: 53,425
May 6, 2021 3:04p
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/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 160.16
+2.64 +1.68%
Volume: 8.40M
May 6, 2021 3:06p
P/E Ratio
12.68
Dividend Yield
2.25%
Market Cap
$477.62 billion
Rev. per Employee
$498,110
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/zigman2/quotes/207741460/composite
US : U.S.: NYSE
$ 74.32
+0.61 +0.83%
Volume: 11.43M
May 6, 2021 3:06p
P/E Ratio
9.75
Dividend Yield
2.75%
Market Cap
$153.81 billion
Rev. per Employee
$423,538
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/zigman2/quotes/203790192/composite
US : U.S.: NYSE
$ 46.20
+0.35 +0.77%
Volume: 24.25M
May 6, 2021 3:06p
P/E Ratio
31.79
Dividend Yield
0.87%
Market Cap
$190.24 billion
Rev. per Employee
$293,069
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