This is banks week.
Another very good and stable bank. To the opposite of the trading banks (JPM , MS) the regular banks seem to be on a very positive upward movement.
Over the last 2-3 years they have streamlined their expenses and credit quality has improved leading to better profitability. FITB has also raised his dividend 3 times: 1 cent, 6 cents then 8 cents being another good sign of improving situation.
So this morning FITB showed a 13% profit increase even if revenues felt short. The way to improve revenue is more loan toward business and customers WITHOUT taking chances as banks were taking early 2006-2007 and i am pretty confident they are on the right track.
So unless things turn for the worst, i see no problem for FITB to achieve a price target of 17$ this year.
As usual (and more actually) DO NOT INVEST MORE THAN YOU CAN AFFORD TO LOSE and always do your own due diligence before investing in any stock. CHEAP SHARE PRICE does not necessary mean a real bargain.
Get THE PLAY OF THE DAY on Twitter : @investman2
Another very good and stable bank. To the opposite of the trading banks (JPM , MS) the regular banks seem to be on a very positive upward movement.
Over the last 2-3 years they have streamlined their expenses and credit quality has improved leading to better profitability. FITB has also raised his dividend 3 times: 1 cent, 6 cents then 8 cents being another good sign of improving situation.
So this morning FITB showed a 13% profit increase even if revenues felt short. The way to improve revenue is more loan toward business and customers WITHOUT taking chances as banks were taking early 2006-2007 and i am pretty confident they are on the right track.
So unless things turn for the worst, i see no problem for FITB to achieve a price target of 17$ this year.
As usual (and more actually) DO NOT INVEST MORE THAN YOU CAN AFFORD TO LOSE and always do your own due diligence before investing in any stock. CHEAP SHARE PRICE does not necessary mean a real bargain.
Get THE PLAY OF THE DAY on Twitter : @investman2
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