Buying Bank Shares?

[james.hendrickson]

All,

A lot of major banks are trading way, way off their highs today - some are down by 20% to 70%.

This could be a good opportunity to pick up some bank shares at a heavy discount - anyone thinking about this?

[disneysteve]

I’m sure there is good money to be made but I’m not looking to buy individual stocks right now. Maybe a bank ETF though. That’s what I did in 2020 with the airlines ETF and made a quick profit from that.

[rennigade]

Wells fargo and barclays arent down anywhere near that much. What shady banks are tanking now?


Isnt it funny how fast the administration acts to save a bank but not a town in Ohio. Let that sink in. Mic drop.

[ua_guy]

Wells fargo and barclays arent down anywhere near that much. What shady banks are tanking now?


Isnt it funny how fast the administration acts to save a bank but not a town in Ohio. Let that sink in. Mic drop.

Uh....all the Republican Governor of Ohio has to do is declare a state emergency and as of a week or two ago, he hadn't. Why didn't he?

Ohio doesn't qualify for FEMA. FEMA typically pays for property damage and shelter not covered by insurance. But since the derailment didn't wipe out homes like a flood does, FEMA isn't applicable. Other types of Federal Assistance are, but Mr. DeWine needs to request and accept it from the Biden Administration.

Get your facts straight. The truth is important, is it not?

[ua_guy]

You may also want to look into why the spilled chemicals were burned near resident's homes. DeWine allowed Norfolk Southern to do it -- because it was the fastest way to start putting the tracks back in service.

Let that sink in.

[Fishindude77]

We own quite a bit of stock in a local bank I am very familiar with.
Has been a great long term investment and spits out good dividends.

[bjl584]

I have owned NYCB in the past. It looks like it's been hammered, but the dividend yield is currently yielding over 10%.
I might be buying again, as I can see 30 to 40% upside once things settle down

[disneysteve]

We own a couple of bank stocks but it looks like they are only down slightly since Friday, about 5%. Not exactly a buying opportunity, not that I would anyway.

[Drake3287]

We own quite a bit of stock in a local bank I am very familiar with.
Has been a great long term investment and spits out good dividends.

People were saying the same thing about Silicon Valley Bank a few days ago also! No one's immune.

[Fishindude77]

People were saying the same thing about Silicon Valley Bank a few days ago also! No one's immune.

True, but I would never invest in a mega bank like SVB as I wouldn't be familiar with the ownership, the upper management, their strategies, goals, etc.
My involvement and stock ownership is with a small local bank I've been doing business with for decades. Know all of the directors, managers, etc. as well as many of the other large shareholders.
Can walk in and talk to the CEO or CFO just about anytime I want to.