Regional Banks Hit By Fed’s “No Taper” Decision

Regional banks are affected by the recent Federal Reserve’s ‘no taper’ decision, according to a recent research report from Citigroup Inc. (NYSE:C). Josh Levin of Citi Research points out Citigroup Inc. (NYSE:C)’s regional bank coverage universe is down by about 5 percent since the ‘no taper’ announcement made by the Federal Reserve, while the S&P 500 remained flat. The following graph displaying stock performance since September 17th strengthens the analyst’s views: Regional banks witness maximum fall Among the universe of regional banks tracked by Citigroup Inc. (NYSE:C), KeyCorp (NYSE:KEY) and Zions Bancorporation (NASDAQ:ZION) have posted a maximum of 6.2 percent drop…