Well you hit the target.. All the money being paid to the execs and not to the shareholders... Time to sell out of this rag.. The competition about to gand up and clobber you in fall quarter if they get their merger approved. Banks with mortgage companies and interest rates rising won't be getting a lot of business... If it were my loan i would be headed for a credit union. Jumbo 15 yrs are still below 4.00
Do you understand how ridiculous your post is? Every statement of it - laughable on all counts.
Interest rates going up will increase earnings as there is a bigger spread between STI's lending and borrowing rates.
"Banks with mortgage companies and interest rates rising won't be getting a lot of business."
Guess what - the news says that there's a housing recovery. Banks with mortgage companies are going to be getting the bulk of that business. Credit unions are too small and unable to handle it all.
"If it were my loan i would be headed for a credit union"
Wonderful. But, it's not, and you won't.
Please advise exactly what competition is about to "gand" up and clobber STI?
If anything, you and your pathetic short position should be more concerned about one of the following:
1. STI goes on an acquisition spree, expands its footprint and begins to put pressure on the national megabanks
2. Another regional bank that has eyes on becoming a national megabank either buys STI or merges with it.
Should neither of the above take place, what you can be certain of is that earnings will continue increasing, and the dividend will continue to be raised.
I sleep well at night knowing that my STI shares will be moving up to the $35 to $40 range in the next 6 months. I hope you sleep as well knowing that has a high probability.
Don't worry, you're not alone. Idiots were here before you and disappeared, certainly there will be more that come after you've disappeared.