For Immediate Release
Chicago, IL – January 28, 2010 – Zacks.com releases the latest Zacks Industry Rank. Stocks featured in this week’s analysis include Bank of Hawaii (BOH), Bancorp South (BXS), JPMorgan Chase (JPM), Fifth Third (FITB) and Regions Financial (RF)
Zacks Industry Rank Analysis is written by Dirk Van Dijk, CFA, Chief Equity Strategist for Zacks.com.
Bad Banks
Many of the smaller regional banks have lots of exposure to commercial real estate, and those loans are going sour at an alarming rate. The FDIC was very busy last year taking over failed smaller banks, and it looks like their work is not over. The list of troubled banks is almost 600 names long (not all of them publically traded) and is growing each week.
This is an area that I would be extremely cautious about investing in. This is particularly true since the Financial Accounting Standards Board (FASB) knuckled under to Congressional Pressure last year and suspended the mark-to-market accounting rules. This makes the financial statements of the banks even more opaque than they used to be. It raises the question for many whether the book values of these banks should be filed under fiction or non-fiction.
Most of the banks that have the dreaded Zacks #5 Rank are small, with some of the larger ones being Bank of Hawaii (BOH) and Bancorp South (BXS). However, some of the biggest and most important banks hold Zacks #4 Ranks, including JPMorgan Chase (JPM), Fifth Third (FITB) and Regions Financial (RF).
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Contact: Dirk Van Dijk, CFA
Company: Zacks.com
Phone: 312-265-9211
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