First BanCorp (FBP) ($6.47) is another community bank in Puerto Rico. It has $222.7 million in TARP money. The stock set a multiyear high at $8.70 on July 23 and recently approached its 200-day SMA to the downside with a low at $6.09 on Sep.12 vs. the 200-day SMA at $6.10. My quarterly value level is $5.48 with a monthly risky level at $7.92.
First United Corp (FUNC) ($8.68) is a community bank in Maryland which has $30 million in TARP money. The stock set a multiyear high at $9.35 on Aug. 21, and since then, the stock has been above its 50-day SMA at $8.23. My quarterly value level is $7.05 with a monthly pivot at $8.97 and weekly risky level at $9.32.(HEOP) ($6.41) is a community bank in California which has $21 million in TARP money. The stock set a multiyear high at $7 on July 24 and is now below its 50-day SMA at $6.51. My monthly value level is $6.17 with a quarterly pivot at $6.67 and annual risky level at $8.56.
Intervest Bankshares (IBCA) ($7.30) is a community bank in New York City which has $25 million in TARP money. The stock set a multiyear high at $7.75 on July 22 and is now on the cusp of its 50-day SMA at $7.21. My quarterly value level is $5.81 with a weekly pivot at $6.73 and monthly risky level at $8.62.(IBCP) ($9.76) is a community bank in Michigan which has $74.4 million in TARP money. The stock set a multiyear high at $10.22 on Sep. 4. My quarterly value level is $5.79 with a weekly pivot at $10.36 and monthly risky level at $11.22.
At the time of publication the author held no positions in any of the stocks mentioned. Follow @Suttmeier This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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