Best Bank Stocks To Own For 2014
It’s on a roll. Wells Fargo (NYSE: WFC ) was trading at $43.35 shortly before 11 a.m. EDT. Not only is this a 1.69% gain from Friday’s close, but it also sets a new 52-week high for the bank. While Wells has been viewed as the stalwart financial stock for the past few years, there are myriad reasons this bank is headed higher than ever. Below are three of them.
1. Earning well
Of course last Friday’s earnings report from Wells Fargo is the top reason that investors are excited to be involved with the bank. Not only did it report both top- and bottom-line figures that beat analyst estimates, the bottom line was yet another record for the bank. Despite this, fellow Fool John Maxfield noted that the Wells earnings report reveals a much more nuanced performance for the bank, with a decrease in loan-loss provisions really propelling higher revenue for the quarter.
Best Bank Stocks To Own For 2014: New York Community Bancorp Inc (NYCB.N)
New York Community Bancorp, Inc. is a bank holding company and a producer of multi-family mortgage loans in New York City, with an emphasis on apartment buildings that feature below-market rents. It has two bank subsidiaries: New York Community Bank (the Community Bank),New York Commercial Bank (the Commercial Bank. The Community Bank has 241 branches and operates through seven divisional banks. The Commercial Bank has 34 branches in Manhattan and operates 17 of its branches under the divisional name Atlantic Bank.
During the year ended December 31, 2011, all of the one-to-four family loans the Company originated was sold to government-sponsored enterprises (GSEs). In New York, the Company serves its Community Bank customers through Roslyn Savings Bank, with 55 branches on Long Island; Queens County Savings Bank, with 34 branches in the New York City borough of Queens; Richmond County Savings Bank, with 22 branches in the borough of Staten Island, and Roose velt Savings Bank, with eight branches in the borough of Brooklyn. As of December 31, 2011, in the Bronx and neighboring Westchester County, the Company had four branches that operated directly under the name New York Community Bank.
In New Jersey, the Company serves its Community Bank customers through 51 branches that operate under the name Garden State Community Bank. In Florida and Arizona, where it has 25 and 14 branches, respectively, the Company serves its customers through the AmTrust Bank (AmTrust) division of the Community Bank. In Ohio, the Company serves its Community Bank customers through 28 branches of Ohio Savings Bank. Customers of the Community Bank and the Commercial Bank have access to their accounts through 261 of its 285 automatic teller machines (ATMs) locations in five states. The Company also serves its customers through three Websites, which include www.myNYCB.com, www.NewYorkCommercialBank.com and www.NYCBfamily.com.
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