Bank Industry

Article Abstract:

Investors should be especially discriminating since bank stock prices are dropping. Problems in emerging markets, Asian and Russia are impacting US firms, and overall stock prices are dropping. Banks expect lower earnings for 1998 and expenses are increasing. Banks are relaxing their credit standards and are vulnerable to drops in key services such as investment banking. Investors should focus on banks with steady domestic revenue streams.

Republic New York Corp., BankAmerica Corp., Wells Fargo & Co., AmSouth Bancorp., Mellon Bank Corp., MEL, BAC, Citicorp, CCI, First Union Corp., FTU, KeyCorp., KEY, BB&T Corp., City National Corp., PNC Financial Services Group Inc., Bank of Hawaii Corp., Regions Financial Corp., SouthTrust Corp., State Street Corp., Summit Bancorp. (Princeton, New Jersey), SunTrust Banks Inc., Synovus Financial Corp., Union Planters Corp., Wachovia Corp., ASO, BBK, CYN, FABC, SOTR, STT, UJB, STI, SNV, UPC, WB, WFC, WILM, ZION, Chase Manhattan Bank N.A. (New York, New York), Wilmington Trust Corp., Zions Bancorporation, BankBoston Corp., BKB, PNC, Quick and Reilly Inc., CF, First Hawaiian Inc., FHWN, RNB, NB, First Virginia Bank Inc., Mercantile Bancshares Corp.

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Bank (midwest) industry

Article Abstract:

The investment prospects for the Midwest banking industry are not compelling. Many of these stocks have price-to-earnings ratios that are higher than the historical norm for this industry. Midwest banks are expected to continue searching for ways to grow profits within an interest-rate environment that continues to decline. Additionally, the likelihood that many of these banks will merge is slim at best.

Analysis, Bank One Corp., Comerica Inc., Commerce Bancshares Inc., Fifth Third Bancorp., First Tennessee National Corp., Firstar Corp., FirstMerit Corp., Huntington Bancshares Inc., Marshall and Ilsley Corp., National City Corp., TCF Financial Corp., ONE, CMA, CBSH, FITB, FTEN, FSR, FMER, HBAN, MRIS, NCC, TCB, FBS, Old Kent Financial Corp., U.S. Bancorp, The Northern Trust Co., First American Corp. (Nashville, Tennessee), Mercantile Bancorporation Inc. (Hammond, Indiana)

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