NEW YORK ( TheStreet) -- Want to know which banks investors are currently betting against? Take a look at the short interest ratio, which divides average trading volumes by outstanding short interest. TheStreet compiled the following results using Bloomberg data, focusing on banks in the S&P 500. Here's what we found.
5. Comerica (CMA) is fifth most shorted, with a ratio of 3.32. Comerica shares are down 36.65% year to date.
4. People's United Financial (PBCT) is fourth most shorted, with a ratio of 3.37. People's United shares are down 6.4% year to date.
3. Hudson City Bancorp (HCBK) is third most shorted, with a ratio of 3.91. Shares are down 51.25% year to date.2. Zions Bancorp (ZION)is second most shorted, with a ratio of 5.23. Zions shares are down 35.9% year to date. 1. M&T Bank Corp. (MTB) leads the pack in this category of dubious distinction, with a ratio of 5.59%. Shares are down 13.11% year to date. Bank of America (BAC) bulls have had an awfully tough year, with shares down 56.92% through last week. At least investors in the bank can take some solace in the fact that Bank of America has the lowest short interest ratio of the banks in the S&P 500 at just 0.65%. >>To see these stocks in action, visit the 5 Most-Shorted Big Bank Stocks portfolio on Stockpickr. -- Written by Dan Freed in New York. Follow this writer on Twitter.
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