It sure looks to me as if someone knows something I don't know. Most of the day we were up, while everything was down.
BTW, I'm only making this posting so the existing board postings do not disappear, as have those on some other boards thanks to Yahoo!'s financial page upgrade.
First, I have been trying to post this since yesterday. I'm having a LOT of software related computer problems. I might take it in for a OS upgrade and some other things, which will put me out the commission for a few days. Now the posting I have been trying to make:
If you are interested in the research reports on WB from ML or Legg Mason (or WFC), let me know and I'll post them here. The WB board is beyond dreadful, having been taken over by some jerk who has multiple religious userid's to preach about WB needing Jerry Falwell for it's CEO.
Talking about sign changes, I have one of the metal CoreStates signs. A friend got it for me when it was being taken down. The thing is a good 2 1/2' X 10'. I have no idea what to do with it given it's size.
I'll put FCEC.OB on the list of little PA banks I watch. A bank in Bucks County might be interesting, too. Earlier this morning my broker told me to add PWOD (Williamsport and Jersey Shore) and FKYS.OB (in Berwick) to the list. He says both are sleepers but worthy of a close look. I had called to find out why HNBC closed down just over 19%--the 5:4 stock dividend was paid today and Yahoo! hadn't updated the price to reflect it yet.
Like you, I, too, like bank stocks. The only active bank account I have, though, is a saving account. I only have this account so I can get cash via an ATM machine without having to pay a fee. Although I have a checking account with another bank, I only use it if I have to pay a bill to a human being. I learned the hard way about using a check from a brokerage firm to pay someone in the mid-90s.
I had WFC involuntarily. I owned some of Norwest when it merged with Wells Fargo. I think WFC is good, though it isn't much higher in share price than it was when I sold it.
I have seen Wachovia recommended a few times lately.
When I was 12, I began a college savings account at Valley Trust Company in Palmyra, PA. VTC was taken by American Bank in Reading, PA. The sign out front changed.
American was taken by Meridian Bank. The sign out front changed.
Meridian bank was taken by Core States. The sign out front changed.
Core States was taken by First Union. The sign out front changed.
First Union is now Wachovia. The sign out front recently changed.
I bolted after Meridian. I use a credit union. I think they're better deals for the consumer, but I'm glad most others use banks. Bank stocks are my favorites (most of the time).
BTW I omitted First Chester County Financial (FCEC.OB) in my previous message. I have some of that one too. My original shares were given to me by a relative. I reinvested dividends and accumulated in that manner. Chester County PA is affluent, growing, and the stock price is reflecting it. The FCEC 2003 stock chart is pretty nice. http://finance.yahoo.com/q/bc?s=FCEC.OB
Well, some might say I have too many banks, but after the internet era, banks are like comfort food to me. You have no idea how many times I was tempted to sell some of my bank stocks and buy more of what actually were quality stocks (rather than dot.com things). I sure am glad I just grumbled (at the bank stock price movements) rather than sold.
OZRK is my favorite bank stock right now, but in large part because it is my most recent purchase. Besides this and the ones I have already mentioned, I have WB and WFC. WFC is my smallest holding and WB my largest. I came to WB (Wachovia) via the buy-out route of two small banks getting eaten by CFL (CoreStates), which got taken-out by First Union (gag), which in turn took-out and was smart enough to take the name of Wachovia. One of these years the stock price of WB might get back to where it was (for us ex-CFL shareholders) right before FTU took-out CFL.
Recently I have been looking at 2 other small banks, neither of which pay cash dividends, WSBK and CMBC. A bad taste in my mouth over trying to deal with the IR person at WSBK has resulted in female intuition kicking in and causing me to give the stock a firm "NO!" I normally try to ignore first impression, gut instinct, but this time I am going to heed it. This is a bank that caters to the ethnic communities, mostly Korean, in the LA area of CA. The chart is a thing of beauty, even compared to OZRK. My e-mail requests for information were totally ignored, though, and the only way I could obtain answers to the questions I had was for me to pick up the phone [2 1/2 weeks after my last e-mail to the stated IR person, in which I gave my mailing address and phone number]. In contrast, CMBC people have been very responsive to my requests for information. CMBC pays 5% stock dividends. They *might* pay cash dividends in the future.
I do want a few more shares of OZRK right now. I'd say there's over a 90% chance that I shall pick up some CMBC. One thing I REALLY like about both (and WSBK) is that it is highly unlikely that either will be taken-out by WB ;o>
I picked up some of NPBC back when you told me about it. I'll probably sell after the 5% dividend. Not because I think it's a bad bank, but because I think I have too many banks. I have OZRK, FULT, NWSB, COBH, and now NPBC.
I noticed OZRK several years ago and liked what I saw.
I got NWSB over 10 years ago when they offered stock to account holders. I got some, reinvested the dividends, and sat on it. Now I have a lot of it.
COBH is Pennsylvania Commerce Bank. It is a separate bank, but is modeled after Commerce Bank of Cherry Hill, New Jersey (CBH), a Wall Street favorite in recent years. COBH also gives a 5% stock dividend every February. No cash dividend, though. It is growing nicely within the Harrisburg - York - Reading triangle.
I bought FULT because it is a good addition to an IRA. Not a great growth stock, but a good grower through cash and stock dividends.
PS. If we get a hint at curtailing the OT messages on this board, I'll try to get a personal e-mail address to you.
I saw that news release.
BTW, I assume you are a male. From the target group RRGB goes after, I rather than you are in the group: women, teens, and tweenies (whatever a tweenie is). It's not the kind of place I would go to for dinner, but for lunch I do like it a lot, maybe because I can not get there very often. For dinner, I do not normally patronize any of the chains.
I am toying with picking up a few shares, with an emphasis of _few_.
I too wonder about the volume. Perhaps a mutual fund getting in? Rising price on rising volume is usually a good sign.
As I expressed in message 274, I have had previous occasion to wonder about the behavior of OZRK stock.