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March 2011

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Many big banks cleared to pay dividends - Wells Fargo and US Bancorp among them

March 18, 2011 – Comments (0) | RELATED TICKERS: WFC , USB

It's been a harrowing ride holding on to bank stocks over the last 2 years. However, now Wells Fargo and US Bancorp are paying about $0.12 a quarter. This gives them yields of about 1.5 and 1.8 percent respectively. Bank regulators proably were conservative in approving these intial dividends, but most banks have stated that their target payout ratios are 30 to 40 percent; that should get Wells and USB to very roughly double those yields based on today's prices. Most banks will be less profitable than before the crisis (albeit there will hopefully be no phantom profits), and their payout ratios will be lower.  [more]

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KMPG issues positive auditor opinion on St. Joe

March 08, 2011 – Comments (0) | RELATED TICKERS: JOE

In some good news for St. Joe, KPMG issued an unqualified opinion on the firm's financial statements. It appears that their 10-K delay was because KPMG was conducting a deeper audit. This is a positive for the firm.  [more]

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