Dividend Daily RSS Feed RSS
Dividend Stocks

The Dividend Daily

Dividend stocks - News, notes, updates, and analysis, delivered fresh daily

Dick Bove Cuts His Rating on Several Banking Stocks (FITB, STI, USB)

By Dividend.com Staff
October 26th, 2009

dick-bove-cuts-his-rating-on-several-banking-stocks-fitb-sti-usb

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.

Comments on this Article COMMENTS ON THIS ARTICLE

Leave a Reply

Your Comments:

Please type the Security Words below:

About This Article ABOUT THIS ARTICLE

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.