Cramer's Spanish Bank Stocks
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Created by barrons2
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Date updated:10-03-2007

It won't be just the Canadians who are calling on our U.S. banks. My sources indicate that the Spanish banks are cruising through the South looking for good buys. Unfortunately, most of the southern banks are either really bad -- poorly run with big mortgage portfolios -- or really expensive. Cramer believes that anyone of the stocks below could be bought by an aggressive Spanish bank.

symbol name last price % change open
  • +
  • WTNY
    Whitney Holding C
  • $8.02
  • -0.87%
  • $8.12

But let's take a look. First, Whitney in Louisiana is run by dinosaurs but sells at much less than the twice the book that it should get. This $25 stock has a $17 book.

People owning WTNY also tend to own: BABMYCDLCSCODREFNSRGPS

TheStreet.com Rating: D What is this?

  • +
  • FHN
    First Horizon Ntl
  • $13.53
  • +0.15%
  • $13.59

First Horizon has had a tremendous mortgage hit, and it may not be over. That bank has $19 in book and it is at $27.

People owning FHN also tend to own: BFKCHKCMCSACOPDBNDFJEWT

TheStreet.com Rating: D+ What is this?

  • +
  • SNV
    Synovus Finl Cp
  • $1.80
  • +20.81%
  • $1.57

There is Synovus, which is really expensive because of its processing subsidiary, but is at almost 3 times book.

People owning SNV also tend to own: IDIXIOMITSSCNSLITTJSDANTRS

TheStreet.com Rating: D What is this?

  • +
  • CNB
    Cnb
  • $0.00
  • N/A
  • $N/A

And then there is Colonial BancGroup, which has a $14 book and sells at $22.

People owning CNB also tend to own: AUYBLSBVNCSCODUKGEGM

TheStreet.com Rating: No Rating What is this?

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