GO
Loading...

A Bank Stock Worth Banking On?

Wednesday, 18 May 2011 | 6:47 PM ET
Cramer's Bullish on BB&T
"You want a bank that doesn't have a target on its back- not a national player, not a Wall Street bankster gangster like Goldman Sachs, but a regional bank," says Mad Money host Jim Cramer. Kelly King, chairman and CEO Of BB&T Bank weighs in

To put it mildly, Cramer isn't exactly excited about bank stocks right now.

After all, the Consumer Financial Protection Bureau, which was created by last year's Dodd-Frank financial oversight law, is scheduled to formally open its doors on July 21. Elizabeth Warren, a Harvard University law professor, is preparing the agency for its launch. Under the belief that Warren wants to redistribute bank earnings back to the consumer, Cramer thinks banks have a "target" on their backs. For those that want to play the banks, he would avoid any names that would draw the ire of Warren.

To Cramer, he would avoid national players or Wall Street institutions. Instead, he would look at regional banks, like BB&T . Although based in Winston-Salem, N.C., Cramer said it is the number one bank in West Virginia and number three in the Carolinas and Virginia. What's more, it was only one of three regional banks to stay profitable during the economic downturn.

For a closer look at whether BBT is a buy, Cramer spoke with CEO Kelly King. Watch the video to view the entire interview.

—Reuters contributed to this report

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

  Price   Change %Change
BBT
---

Contact Mad Money

  • Showtimes

    Monday - Friday 6p ET
  • Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

Mad Money Features

  • Grab the latest CNBC gear from the NBCUniversal Store!

  • Get a behind-the-scenes look at how Cramer formulates his investment advice. "Inside the Madness" is a column, which features e-mails and more with Cramer and his researcher Nicole Urken.

  • You’ve always wanted to hit the “Hallelujah!” button. Here’s your chance.