Bank of America vs. TCF Bank
1) In Q2 BAC produces a LOSS... a BIG LOSS... Offset by a multi-billion dollar sell off in a stake in a Chinese Bank. They can't do that again. C.E.O. is BLEAK when it comes to the future of his bank and the economy.
2) TCF BANK produces an 8 cent eps PROFIT.... The future looks pretty good with finally an increase in checking fees which makes up a big chunk of their business thanks to their June program to give people $50 or so for opening up a checking account.
So after the Q2 earnings reports you would think TCF's share price spiked up to $16.XX a share while (BAC) plummets to $12.XX or lower? Right? Make sense to me.....
Yet instead we get the opposite. And why? Cause BAC is a large cap and TFC is just a regional bank and regional banks don't deserve the same P/E multiple as Large Banks cause.. cause..cause... well no real reason why that it is.. it just is...
So yea.. I am a bit TEED OFF and Disgruntled over this... I dumped Bank of Collapse after making a big profit on it in favor of TCF. Now TCF gets nothing while the complete disaster that is BAC gets a share price boost and a Hedge Fund buying millions of shares.
BAC is TARPED.
TCF has no Tarp... They did accept the Tarp but they did nothing with it other than hand it right back. TCF never got into subprime mortgages.... They never got into debt swap derivative junk cess pool.... They were just as innocent in it as Comerica Bank.
So why the unfair treatment???? Why the BACKWARDS attitude from Wall Street?