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Are There Any Good Financial Stocks?
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Director of Market Data & Content Services
With all this news about Fannie [FNM
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], Freddie [FRE
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], Lehman [LEH
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], WaMu [WM
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], and others (see short interest in these banks here), you might be asking yourself, are there any good banks out there. Here is a screen for stocks from the S&P Financials sector that are actually doing well for the year. To start, we looked for companies in the Financials that are up over 5% YTD (the sector is down 27% YTD).
The results are the 19 companies shown below. Hudson City [HCBK
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], Cramer's darling, leads the list, up 26% YTD. As you can see from the list, many of these have respectable dividend yields and have double digit earnings growth forecast for their next fiscal year. As a whole, the group of 19 have an average yield of over 3% and growth forecast of nearly 7%.
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Use this data from Thomson Reuters as a starting point to more research. Lessons from the recent collapse of Freddie and Fannie show that dividends are not a guarantee. Some of these have negative growth forecasts for next year. In the end, maybe there are some good banks out there after all...
Do your own stock screens with the cnbc.com stock screener here
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Data is a real-time snapshot *Data is delayed at least 15 minutes
