While I'm definitely not aggressively recommending the purchase of banks right now, I have to admit, that a certain trio has caught my eye.
While so many other banks are slashing their dividends, or omitting them entirely BB&T (BBT), US Bancorp (USB) and Wells Fargo (WFC) are going in the other direction. In fact, they've distinguished themselves by raising their dividends in 2008, when most other banks either cur or eliminated their dividends all together. Not too shabby of a move forward, if I do say so myself.
Don't get me wrong, I'm not overly enthusiastic about the banking sector as a whole right now. I continue to foresee a continued high level of loan losses for at least the next several quarters. (Mostly bad mortgages, but also some problems with credit card debt and corporate bankruptcies as well.) However, these select few banks are managing success through turmoil and that counts for a lot these days. It's definitely something to keep one's eyes on.



