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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 -0.08% 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 -0.04% slid 1.7% and the First Trust Nasdaq Bank ETF /zigman2/quotes/204254219/composite FTXO -1.12% was off 1.2%. Shares of JPMorgan Chase /zigman2/quotes/205971034/composite JPM -0.01% , which reported on Wednesday, were flat, but Citigroup Inc. /zigman2/quotes/207741460/composite C +0.07% and Well Fargo & Company /zigman2/quotes/203790192/composite WFC +0.13% both lost 0.7%.

/zigman2/quotes/209660484/composite
US : U.S.: NYSE Arca
$ 37.75
-0.03 -0.08%
Volume: 56.34M
May 10, 2021 4:00p
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/zigman2/quotes/202716924/composite
US : U.S.: Nasdaq
$ 68.34
-0.03 -0.04%
Volume: 687,957
May 10, 2021 4:00p
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/zigman2/quotes/204254219/composite
US : U.S.: Nasdaq
$ 32.34
-0.37 -1.12%
Volume: 105,740
May 10, 2021 4:00p
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/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 161.22
-0.02 -0.01%
Volume: 14.01M
May 10, 2021 4:00p
P/E Ratio
12.80
Dividend Yield
2.23%
Market Cap
$488.09 billion
Rev. per Employee
$498,110
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/zigman2/quotes/207741460/composite
US : U.S.: NYSE
$ 75.13
+0.05 +0.07%
Volume: 19.63M
May 10, 2021 4:02p
P/E Ratio
9.89
Dividend Yield
2.72%
Market Cap
$156.67 billion
Rev. per Employee
$423,538
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/zigman2/quotes/203790192/composite
US : U.S.: NYSE
$ 46.60
+0.06 +0.13%
Volume: 28.19M
May 10, 2021 4:02p
P/E Ratio
32.22
Dividend Yield
0.86%
Market Cap
$192.38 billion
Rev. per Employee
$293,069
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