This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

10 First Quarter Bank Stock Winners

NEW YORK ( TheStreet) -- The best-performing bank stocks during the first quarter represent a wide variety of business models, with one major credit card lender, some troubled institutions on the rebound, and others benefiting from government-assisted acquisitions of failed institutions.

TheStreet has narrowed down the first-quarter winners list by only including bank stocks with average daily trading volume of at least 50,000 shares and with consensus earnings estimates available for 2011 and 2012.

10. United Community Banks

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Shares of United Community Banks (UCBI) of Blairsville, Ga., closed at $2.33 on Thursday, returning 19% for the first quarter of 2011.

The company's shares rose 29% to close at $1.98 on March 17, after United Community announced plans to raise $380 million in common equity through a private placement to a group of investors led by Corsair Capital LLC, and plans to sell $293 million in problem loans during the second quarter.

The shares popped another 16% on Thursday, after the company announced it had completed the capital raise.

The company owes $180 million in government bailout funds received through the Troubled Assets Relief Program, or TARP, and in February deferred its most recently quarterly dividend on preferred shares held by the U.S. Treasury Department.

United Community is scheduled to announce its first-quarter results on April 28, before the market opens. The consensus among analysts polled by Thomson Reuters is for United Community to post a net loss of $1.07 a share for the first quarter and a loss of 60 cents a share for all of 2011. The consensus EPS estimate for 2012 is 15 cents.

Out of eight analysts covering United Community, one rates the shares a buy, while the remaining analysts all have neutral ratings. On Thursday, Sandler O'Neill analyst Kevin Fitzsimmons upgraded the shares to a buy, saying that the "risk-reward on UCBI [was] more intriguing with the sizable raise complete, problem loans down to a much more manageable level, and an accelerated return to profitability."

Sandler O'Neill was one of United Community's advisors for the common equity raise completed in March.
1 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AXP $76.65 0.00%
BAC $16.36 0.00%
C $53.28 0.00%
COF $77.32 0.00%
DFS $53.95 0.00%

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs