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Posted on 8/14/23 at 4:08 pm
Posted on 8/14/23 at 4:08 pm
(no message)
This post was edited on 1/27/24 at 11:11 am
8
Posted on 8/14/23 at 4:13 pm to Redstickbaw
wouldn't hurt if you bought now looking long term. Still think next year will be tough but two to three years from now you will wish you had bought. I own jpm,pnc but pnc has not been kind to me but that Div stays at 6.00 i dont mind riding it out.
Posted on 8/14/23 at 4:31 pm to FLObserver
IMO yes. Long term holds though. I picked some first horizon up when they tanked and sitting pretty right now.
Posted on 8/14/23 at 5:53 pm to Redstickbaw
Warren Buffet loves him some Bank of America.
Posted on 8/14/23 at 6:03 pm to Adajax
quote:
Warren Buffet loves him some Bank of America.
True. BoA is just made up of pieces of shite. It's hard for me to invest into companies like that.
Posted on 8/14/23 at 8:33 pm to Redstickbaw
quote:
A few bank stocks im looking at have gone down 50% so far this year. Is now a good buying opportunity?
As the Titanic was sinking, would you have bought tickets for the cruise at a 50% discount?
Posted on 8/15/23 at 7:09 am to Redstickbaw
Probably, but not right now. If you have a hundred bucks or so you're willing to gamble you could drop it on FRCB and cross your fingers (P/E is .04). In April it was over $100, now it's at $.31.
If it goes back up, it likely won't be until the Fed has signaled that interest rate hikes are over and it's either the time to maintain or time to start cutting (especially the latter).
If it goes back up, it likely won't be until the Fed has signaled that interest rate hikes are over and it's either the time to maintain or time to start cutting (especially the latter).
Posted on 8/15/23 at 11:09 am to Redstickbaw
Might look at ETFs such as KBE and KRE. This way you can participate in the industry and minimize the risk of an individual bank going bust.
Posted on 8/15/23 at 1:29 pm to Enadious
quote:
As the Titanic was sinking, would you have bought tickets for the cruise at a 50% discount?
Can you give some context on this question? Is it more joking or what is your logic? I spent a couple of minutes looking at bank performances. They aren't sinking ships. And they have multiple layers of additional flotation. I don't see anything to suggest these companies are being grossly mismanaged. Seems like the stock price is declining currently due to cyclical issues like rising rates, inflation, etc. . .
Posted on 8/15/23 at 2:46 pm to Redstickbaw
quote:They are a whole lot better buy today than they were yesterday...
Are bank stocks a good buy?
JPM -2.87%
BAC -3.35%
FHN -3.05%
ISTR -2.67%
WFC -2.54%
C -2.03%
Posted on 8/15/23 at 3:02 pm to Bard
quote:
Probably, but not right now. If you have a hundred bucks or so you're willing to gamble you could drop it on FRCB and cross your fingers (P/E is .04). In April it was over $100, now it's at $.31. If it goes back up, it likely won't be until the Fed has signaled that interest rate hikes are over and it's either the time to maintain or time to start cutting (especially the latter).
Are you serious with FRCB?
Posted on 8/15/23 at 3:08 pm to Bard
quote:The reason it's at $.31 is because the FDIC closed the bank on May 1, 2023.
If you have a hundred bucks or so you're willing to gamble you could drop it on FRCB and cross your fingers (P/E is .04). In April it was over $100, now it's at $.31.
The only reason it's still trading at all is so shareholders can sell and take their tax loss on it.
Posted on 8/15/23 at 4:02 pm to LSURussian
Holy shite, I’ve now officially seen the bottom of the tiger droppings money board. Please tell me the FRCB post isn’t real and that somebody isn’t buying it.
Posted on 8/15/23 at 6:24 pm to slackster
quote:
Are you serious with FRCB?
More like hopeful that I can ever get my money back.
Posted on 8/15/23 at 6:25 pm to LSURussian
quote:
They are a whole lot better buy today than they were yesterday...
JPM -2.87%
BAC -3.35%
FHN -3.05%
ISTR -2.67%
WFC -2.54%
C -2.03%
Rumor has it that Fitch is downgrading a bunch of banks tomorrow so may want to wait a bit.
Posted on 8/15/23 at 6:48 pm to BuckyCheese
quote:Fitch announced early today that it is putting a lot of U.S. banks, including almost all big banks, on a downgrade watch list based on the recent U.S. government securities credit downgrade. That's not a rumor.
Rumor has it that Fitch is downgrading a bunch of banks tomorrow so may want to wait a bit.
Posted on 8/16/23 at 5:54 am to Redstickbaw
I bought 336 TFC yesterday, at $29.70. They are my main bank that I use anyway.
I set up a $50k line of credit, just for emergencies. They gave me the terms of prime +2% if I ever use it. This was when prime was little, to nothing. Now, at 8.5%, I have no interest in letting them gouge me.
The reason I bought it is that it pays an RCH over 7% if bought at $29.70.
I set up a $50k line of credit, just for emergencies. They gave me the terms of prime +2% if I ever use it. This was when prime was little, to nothing. Now, at 8.5%, I have no interest in letting them gouge me.
The reason I bought it is that it pays an RCH over 7% if bought at $29.70.
This post was edited on 8/16/23 at 6:31 am
Posted on 8/16/23 at 6:50 am to Hangit
I made a decent return with TFC earlier this year
Posted on 8/16/23 at 7:52 am to Jmcc64
quote:
This was when prime was little, to nothing. Now, at 8.5%,
You also took out this line when deposit rates were 0.05%. Now they’re at 5% plus. I wouldn’t say they’re gouging you
Posted on 8/16/23 at 10:18 am to Redstickbaw
I’ve been in and out of KEY for the past few months. Bought in $8 more than once and sold at $12.7 or so. Anything real close to $10 has me add shares.
I’m always watching MS and BOA as well.
I’m always watching MS and BOA as well.
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