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3
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 4:57 pm to UltimaParadox
quote:
Just like the bank failures of last year the majority were related to crypto exposure
The majority were related to holding worthless bonds.
Posted on 1/31/24 at 5:13 pm to Flowbe209
quote:
Today’s FOMC statement omits the prior sentence that “The US banking system is sound and resilient.”
Which is a vote of confidence.
This post was edited on 1/31/24 at 5:28 pm
Posted on 1/31/24 at 5:26 pm to mule74
quote:
work for an insurance broker owned by Truist. We are about to get sold off because they need the money to raise liquidity. It’s not a secret. It’s in all of the trade journals.
I can confirm this with first hand knowledge.
Not particular to Truist, but isn’t the issue mostly loan income drying up and their assets in long term treasuries that haven’t been adjusted to reflect rising rates? Everyone is pulling cash to go to MM funds so selling these and booking the loss to provide liquidity is a problem.
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.
Posted on 1/31/24 at 11:14 pm to Flowbe209
Anyone holding regional and smaller bank stock is asking for pain.
I have scoured quarterlies and listening to numerous quarterly conference calls. All these small sized publicly traded banks are staring down both barrels of the financial shotgun.
If you hold the stock of these smaller banks, sell, sell, sell. The CRE in the portfolios is complete garbage. These banks got greedy and were stupid….and made bad, bad credit decisions.
Also, the leadership are usually dumb and have no real experience. Listen to a damn quarterly conference call of any of these banks….you will pull your money so quick.
I have scoured quarterlies and listening to numerous quarterly conference calls. All these small sized publicly traded banks are staring down both barrels of the financial shotgun.
If you hold the stock of these smaller banks, sell, sell, sell. The CRE in the portfolios is complete garbage. These banks got greedy and were stupid….and made bad, bad credit decisions.
Also, the leadership are usually dumb and have no real experience. Listen to a damn quarterly conference call of any of these banks….you will pull your money so quick.
Posted on 2/1/24 at 9:44 am to KillTheGophers
Hancock Whitney?
Posted on 2/10/24 at 12:11 am to Flowbe209
quote:
Their CRE time bomb is ticking and they have been in expense cutting mode for a while. Shut down entire lines of business. But it hasn’t been enough and eventually you have to pay the piper.
So is the bank failure prediction for Truist 2024?
Truist has been mired in rumors for 20+ years.
At what point does someone pull up this thread and say the prediction was correct and at what point is it just another rumor?
1/1/25?
1/1/26?
When is truist going to go bellyup because of that piper?
Posted on 2/10/24 at 4:59 am to meansonny
quote:
When is truist going to go bellyup because of that piper?
This is a prediction thread, not a crystal ball thread. It’s fine to disagree with a prediction. Why are so many sensitive about Truist? It’s a stock just like 100s of others that get discussed on this board.
Posted on 2/10/24 at 10:06 am to Flowbe209
quote:
Why are so many sensitive about Truist?
Rumors had become habit (and a running joke) about SunTrust.
I'm trying to distinguish if people actually know something.
Or if this is SSDD.
I was trying to give the OP his due instead of just shitting on it like the other 20 years of rumors. Based on the literal interpretation of the OP, 12/31/24 is midnight for Truist. But if there is some validity to the issues, then some grace may be warranted.
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