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Posted on 1/31/24 at 1:38 pm to 632627
I’m long KRE and continue to buy monthly. Today’s FOMC statement omits the prior sentence that “The US banking system is sound and resilient.”
Posted on 1/31/24 at 4:24 pm to 632627
quote:
What's everyone doing with their regional bank holdings? Nycb has me spooked and I'm thinking about liquidating everything.
I have rather light exposure to regional (and money center) banking in various accounts. But not overweight by any stretch. Liquidating everything? Are you overweight? What percentage of your portfolio has exposure to the regional banking sector?
For me, the main issue continues to be regionals that have heavy exposure to commercial real estate (especially office complexes). As Jeff Gundlach detailed it today, the troubled loans and foreclosures that are happening, or are on the horizon, are concerning. I’m not in heavy enough to panic sell, but I’d definitely keep a close eye on the situation.
Posted on 1/31/24 at 10:48 pm to 632627
quote:
What's everyone doing with their regional bank holdings? Nycb has me spooked and I'm thinking about liquidating everything.
I had been accumulating NYCB for the last year. 6.5% dividend and 8 consecutive years of dividend growth. They flushed that down the toilet. Not a lot...had about 125 shares. I went ahead and sold it. I probably would have held on if they hadn't cut the dividend to almost nothing. With practically no dividend now, I didn't think it was worth the risk to keep it. I'm sure they have many individual investors with a lot more shares than I had who counted on that dividend. I hope all their officers get voted out. I can't imagine anyone buying their stock now.
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