Now is the time to be buying these small banks during the summer doldrums (for banking stocks). This happens most every year. However, this year it is even more a time to be buying them in a big way. Interest rates will trend higher next year, and when that (finally) happens bank earnings increase! Most people are looking the other way and do not understand these basic concepts.
In the mean time, slowly acquire shares if the trend lower. Diversify across multiple names. Look more towars book value and those trading near or below compared to those wildly above book value. Make exceptions for those carrying low debt loads, growing top/bottom line, and paying good/stable/increasing dividends. Lastly, those that are potential acquisition targets (like AROW) should be on the top of the list for accumulation.
I also have AROW and I'm very happy with it. However, I wouldn't put all my eggs in one basket ,banks . I would diversify my holdings with stocks like T,ARLP,KMP, they also raise their dividends . Also, FUN and MIC look to be back on track now. IEP is a new holding for me............. TTM $6.25 ,estimated earnings this year $9.41 ,estimated earnings next year $13.34 ...Paying out over 5% now and more than likely to grow ,both in price and dividends . I had to sell another stock, so I could buy IEP . The estimated earnings looked to good to be true. But I'm in.
I own all of them . I rode FUN and MIC down from the top and back up again. I only buy dividend or distribution paying stocks Buy and hold . Works for me.
Back in the 1990's Obama Sued Citibank Under CRA to Force it to Make Bad Loans
Lost my #$%$ with C and BAC . Those dividends will never return to the way they were . C did a 1 for 10 split.