NEW YORK (TheStreet) -- Bank stocks were mostly flat in the first quarter, with SPDR KBW Regional Banking (KRE), an exchange traded fund that tracks regional bank stocks, gaining just 0.68%. SPDR KBW Bank (KBE), which tracks larger banks like Citigroup (C) and Bank of America (BAC), fell 0.35%.
Among the 10 worst performers, you'll see some banks that are still a ways from profitability, but the list also contains some healthier names that may be less of a gamble. Here is our list, which includes only U.S. bank stocks with an average daily trading volume of at least 50,000 shares.
10.Park Sterling Corp. (PSTB)Charlotte-N.C.-based Park Sterling saw its shares fall 21.52% in the first quarter to finish the period at $4.85. A disappointing fourth quarter earnings announcement appeared to be the trigger for the poor shares price performance. The fourth quarter miss was driven by a 200% rise in non performing assets, according to a Jan. 20 report from Keefe Bruyette & Woods analyst Jefferson Harralson, who noted NPAs now account for 10.5% of Park Sterling's portfolio. Park Sterling shares caught a bit of a bounce on the last day of the quarter after it announced to $32.4 million acquisition of Greenwood, S.C.-based Community Capital Corp. Sandler O'Neill analysts argued in a report that the deal was "transformational," and "a positive development for the stock," as it would "[get] the ball rolling" on the company's M&A strategy and "is in a region that will support organic growth."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV