The BANK nobody talks about is the BANK to buy.
The Financial Bank that CNBC, Warren Buffet, Mutual Funds, Hedge Funds, Motley Fool, and so many others have overlooked and haven't talked about is the bank you should buy.
This bank does business primarily in the Midwest: Michigan, Illinois, Indiana, Wisconsin, Minnesota.
They also do business in Colorado, and Arizona.
This bank's common stock has fallen 10.2 percent year to date. But, before you freak out.. Consider that:
1) JP MORGAN: Fell 27.5%
2) U.S. Bankcorp: Fell 42.8%
3) Wells Fargo: Fell 59%
4) Bank of America: Fell over 70%
Can the stock price fall further? Of course this banks price can fall further. It is a recession afterall. But, this bank is unique in that it has avoided completely the Mortgage mess that other banks got themselves into. It has not been used by the Government as a JP Morgan style Bailout Bank of other abyssmal banks gone bust like Bear Sterns, Washington Mutual.
The economy has hurt the profits/revenue of this paticular bank... So we are not looking at some "Miracle Stock" here. But, we are simply looking at a bank that is absolutely with 100% confidence a surviver.
And it's a surviver carrying a pretty hefty dividend and yield. That yield is so high I expect the dividend at some point to be cut in half. Even with a 50% deduction in dividend payouts... You'll still get paid 12 cents a share at 4% yield....not too shabby?
So.... What's my new found favorite Bank Stock I think it's worth a BUY?
TCF BANK: (TCB)
Check it out and do your research before deciding to buy in. Also, wait for this to come down a lot closer to its 52-week low.