Bank stocks rose steadily in 2010, but many have struggled since reporting first-quarter results. As a benchmark, the Financial Select Sector SPDR (NYSE: XLF) is down 8% from its February high.
Some bank stocks have faired worse than others, so we came up with a list of some of the most unpopular bank stocks to sell. Investors have not shown these financials much love, and that is unlikely to change in the near future.
Here are six bank stocks to sell:
Morgan Stanley (MS)
Global financial service firm Morgan Stanley (NYSE: MS) is first on the list of stocks to sell, having dropped 23% since the February high and 15% overall for 2011. Additionally, experts are expecting earnings of just 61 cents, after the company posted EPS of 80 cents this quarter last year.
Goldman Sachs Group (GS)
Bank and financial holding company Goldman Sachs (NYSE: GS) is down 20% since the beginning of the year. In its last income statement, this overweight stock posted quarterly earnings growth of -21% and a quarterly revenue growth of -7%, year-over-year.
Nomura Holdings (NMR)
Japanese financial service company Nomura Holdings (NYSE: NMR) has watched its stock value drop 24% in 2011. Additionally, NMR posted quarterly earnings growth of -35%, year-over-year, in its last income statement.
Northern Trust Corp. (NTRS)
Financial holding company Northern Trust Corp. (NASDAQ: NTRS) is another overweight stock to sell, down 14% year-to-date. Analysts are projecting earnings to drop six cents, compared to last year’s EPS.
Credit Suisse Group (CS)
Swiss financial services company Credit Suisse Group (NYSE: CS) is projected to have earnings drop of 23 cents this quarter, compared to 2010. Moreover, the stock has lost 4% in the last 30 days and 7% in the last three months.
State Street Corp. (STT)
Boston-based holding company State Street Corp. (NYSE: STT) is another stock you should consider cutting from your portfolio. Down 3% in the last month and 5% year-to-date, STT also posted quarterly earnings growth of -5% in its last income statement.