Famous banking analyst Meredith Whitney appeared on CNBC on Tuesday, offering some very bearish comments regarding the near-term prospects for several large bank stocks.
Whitney, who makes her living producing company-specific equity research on financial institutions, said the overall economic environment is not favorable to banking stocks. She noted that Goldman Sachs ( GS
Whitney then said that "the big banks" were most vulnerable in the financial sector: JPMorgan ( JPM ) , Citigroup ( C ) , Bank of America ( BAC ) , and Wells Fargo ( WFC ) . She noted those companies face difficult comparisons moving forward, and pointed out that those four banks alone control nearly two-thirds of the entire mortgage industry.
She also predicted further job losses at major companies, citing new federal financial regulations as being a drag on potential earnings.
The Bottom Line
Shares of BAC have a .28% dividend yield, based on last night's closing stock price of $14.34.
Shares of WFC have a .71% dividend yield, based on last night's closing stock price of $28.12.
Shares of JPM have a .49% dividend yield, based on last night's closing stock price of $41.08.
None of the dividend stocks mentioned in this article are currently recommended by Dividend.com.
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