Watch my new YouTube Video: Quick Pick Truist Financial

Watch my new YouTube Video: Quick Pick Truist Financial

My one-hundred-and-forty-third YouTube video “Quick Pick Truist Financial” went up today. My Quick Pick this week is Truist Financial Corp (TFC), a “super-regional” bank based in the Southeast. Bank stocks have been down recently on rising costs (got to pay more to keep your good people, these days), but Truist Financial, formed through a merger of BB&T and Sun Trust, is still taking out acquisition costs. My rule of thumb these days is to buy a dividend stock when the yield hits 4% or more. Thanks to the retreat in bank stocks Truist Financial now pays 4/02 plus with its share buyback plan the total yield hits 5.75%. I’ll be adding this Monday to my Dividend Income Portfolio on JubakPicks.com and JubakAM.com.

Selling U.S. Bancorp out of my Jubak Picks Portfolio

Selling U.S. Bancorp out of my Jubak Picks Portfolio

Back on April 11 when I sold Wells Fargo (WFC) and the Invesco KBW Bank ETF (KBWB) out of portfolios to reduce my exposure to a slowing economy caused by the Federal Reserve interest rate increases, I kept my position in U.S. Bancorp (USB) because I wanted to collect the dividend due to be paid out on April 15 (and because I thought super-regional U.S. Bancorp, as one of the best managed banks in the country, was less exposed to the downward trend in the sector.) Well, as of May 19, I’ve certainly collected my quarterly dividend (the stock current yields 3.75%) and the downward trend in financial stocks has picked up speed with the Fed announcing (well, as close to “announcing” as the Fed ever does) interest rate increases for the June, July and September meetings of the central bank, so I’ll be selling U.S. Bancorp out of my Jubak Picks Portfolio tomorrow May 20.

Special Report: “An Investor’s Guide to Selling Over the Next Four Months” with just one market “arc” left to post

Special Report: “An Investor’s Guide to Selling Over the Next Four Months” with just one market “arc” left to post

I think these financial market curves will let you map out the longer stories of Federal Reserve interest rate increases and a potential recession–and then chart the shorter stories of war in the Ukraine, global oil and natural gas crunches, summer Pandemic relief, global food crisis, computer chip shortages (and whatever else you think might be important) under those longer curves. That will let you decide when to buy and sell (and what) in order to profit from short-term stories while preparing your portfolio for the longer arcs.

Selling U.S. Bancorp out of my Jubak Picks Portfolio

Buying Wells Fargo in Jubak Picks ahead of earnings

Wells Fargo (WFC) is scheduled to report fourth quarter 2021 earnings on Friday, January 14. The bank is expected to be one of the few big money center banks to show a significant increase in earnings for the lat quarter of 2021 from the fourth quarter of 2020 (when numbers were elevated by a big recovery from the Pandemic bottom.) The Wall Street consensus projects fourth quarter earnings of $1.09 a share, up from 64 cents a share in the fourth quarter of 2020. (I’d note that the bank has delivered a positive earnings surprise above analyst projections in the last 4 quarters.) This is a good time to buy bank stocks.

Saturday Night Quarterback says, For the week ahead expect…

Saturday Night Quarterback says, For the week ahead expect…

Expect the the debate to go on. Are we seeing a top for this extraordinary rally? Are stocks headed to their first correction since dinosaurs walked the earth? (Actually stocks had their last 10% correction in February 2020 but almost nobody remembers because it didn’t last very long and soon stocks were on their way to infinity and beyond.) And will this correction be led by technology stocks, the stars of the last rally? Or is the huge and very quick drop in technology stocks and the smaller but still significant fall in a wider index such as the Standard and Poor’s 500 merely a rotation from one sector into another? For the record, as of the close on Friday, December 3, the S&P 500 was down 3.47% from its November 24 high. The NASDAQ Composite, with its heavier weighting in technology, was down 6.05% from its November 11 high.

JPMorgan Chase earnings beat on M&A, tax benefit, reserve releases–but consumer and commercial loans fall

JPMorgan Chase earnings beat on M&A, tax benefit, reserve releases–but consumer and commercial loans fall

This morning JPMorgan Chase (JPM) reported that earnings for the third quarter beat analyst estimates. Earnings came in at $3.74 a share–if you include one-time items such as a tax benefit and a big release from loan loss reserves. Without those items, earnings for the quarter were $3.03 a share. Wall Street had expected earnings of $3.00 a share. The quarter showed that big U.S. banks still aren’t seeing growth in loan demand. For the quarter consumer loans fell 2% and commercial loans dropped 5%.

JPMorgan Chase earnings beat on M&A, tax benefit, reserve releases–but consumer and commercial loans fall

Bank earnings from JPMorgan Chase better than expected–after loan loss release–but raise doubts on recovery

Before the market open today, July 13, JPMorgan Chase (JPM) reported earnings of $3.78 a share on revenue of $30.5 billion. But as expected trading revenue fell with fixed-income trading revenue down 44% year over year. Community banking revenue climbed just 3%; investment banking revenue rose just 1%; and commercial banking revenue grew just 3%. Average loans in the consumer banking unit fell 3%; across the company average loans were flat. A release of $3 billion from reserves against loan losses saved the quarter and produced a huge surprise above the $3.05 a share expected by Wall Street analysts.