Dick Bove Cuts His Rating on Several Banking Stocks (FITB, STI, USB)
October 26th, 2009

Famous analyst Dick Bove of Rochdale Securities downgraded three major banking companies on Monday, sending their shares lower
Bove cut shares of Fifth Third Bancorp (FITB



) and SunTrust Banks (STI



) to a “Sell,” and U.S. Bancorp (USB



) to “Neutral” from a previous “Buy” rating.
USB shares fell 2%, STI shares, fell 4.7%, and FITB shares fell 4% in morning trading Monday.
The Bottom Line
FITB has a dividend yield of .39%, based on Friday’s closing stock price of $10.34. USB has a dividend yield of .80%, based on Friday’s closing stock price of $24.95. STI has a dividend yield of .19%, based on Friday’s closing stock price of $20.99.
None of the dividend stocks mentioned in this article are recommended at this time.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.



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