S&P Global Ratings downgraded five regional banks: KeyCorp (KEY), UMB Financial (UMBF), Comerica (CMA), Vally National Bancorp (VLY), Associated Banc-Corp (ASB). Smead Capital Management CEO Cole Smead tells Yahoo Finance Live that "there's going to be a lot of opportunity" in the regional banking space. "The tumult... is not going to end overnight," Smead says, adding that ratings agencies' assessments tend to be more of a lagging indicator. "I think people should keep their eyes wide open and keep their ears attuned to what's going on in banking, because I think there's going to be some big winners and some big losers," Smead said.
