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Financial Gem Stocks Amid Lumps of Coal

Bob Auer of the Auer Growth Fund has some definite standards for choosing stocks. He gets a chance to use them every earnings season — and this tough time is no exception.

"What we're looking for, when this earnings season unravels, we want to see if we can find any companies that had an up-25-percent quarter, an up-20-percent on revenues, that we can buy at reasonable valuations, usually below 12 P/E," he told CNBC. "We're looking for fast, explosive-growing companies at very cheap prices."

Recommendation:

"We own a stock called Hudson City Bancorp," Auer said. "They just issued their annual report, (saying) 'We operated in 2008 in a totally different world than the rest of the world.'"

Hudson City, a regional bank in the Northeast, is in the mortgage business — but it does not make any mortgages it is not willing to hold itself.

Disclosures:

Disclosure information for Bob Auer was not immediately available.

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Hudson City vs Other Regionals:

Fifth Third Bancorp

KeyCorp

PNC Financial Services Group

First Niagara Financial Group

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Disclaimer

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FITB
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FNFG
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HCBK
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KEY
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PNC
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