David Tepper over the past 15 months has moved from being heavyweight in technology stocks to heavyweight in banking stocks. As of June 30, 2009, David Tepper was listed as having 59% of his holdings in bank stocks.
David Alan Tepper is the founder of Appaloosa Management, which is a $3 billion hedge fund investment firm based in Chatham, N.J., just west of New York City. Today, as president and founder of Appaloosa Management, Tepper has earned an international reputation for producing some of the highest returns amongst fund managers on Wall Street. He earned a master of science in industrial administration from Carnegie Mellon in 1982. He was once considered to be the hottest investor on wall street.
As a note of interest, On September 25th 2009 Tepper purchased a portion of the Pittsburgh Steelers.
David Tepper is reputable candidate to provide ideas to individual investors. Given the fact that 59% of his holdings are in banks and there are only 4 banks, perhaps this is a place to look. With only 4 bank holdings, it can be assumed that he has done a lot of the research for you. All that is left to do is decide for yourself whether to buy or not.
Bank of America Corp. (BAC, Financial), Tepper Weighting: 37.86%
Bank of America Corp to Announce Third Quarter 2009 Earnings Results Thursday, October 16, 2009.
On October 2, Bank of America Corporation said that the Board of Directors has authorized approximately $713 million in dividend payments to the U.S. government under the Troubled Asset Relief Program (TARP). The company this year has paid the government $1.83 billion in TARP dividends through September 30.
On September 31, Ken Lewis, chief executive officer and president, announced today that he has notified the Board of Directors of his decision to retire, effective December 31, 2009. The Board will continue ongoing planning to ensure his successor is selected by that date. Lewis will retire as CEO and as a director. It is not known if the board of directors was expecting his decision to step down even though there has been a lot of pressure from Wall Street.
Bank of America Corp. is one of the world's leading financial services companies. Bank of America provides individuals small businesses and commercial corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever wherever and however they choose. Bank Of America Corp. has a market cap of $141.37 billion; its shares were traded at around $16.34 with a P/E ratio of 29.18 and P/S ratio of 1.94. The dividend yield of Bank Of America Corp. stocks is 0.24%. Bank Of America Corp. had an annual average earning growth of 7.5% over the past 10 years.
Fifth Third Bancorp (FITB, Financial), Tepper Weighting: 12.36%
Fifth Third Bancorp to Announce Third Quarter 2009 Earnings Results Thursday, October 22, 2009.
Over the past 18 months, Fifth Third Mortgage Company has financed more than 16,000 loans to first-time homebuyers totaling nearly $2 billion. In the first seven months of this year, the Company financed nearly $1.05 billion in loans for first-time homebuyers. Visit your local Fifth Third Banking Center and speak to a Mortgage Loan Originator to find more information for first-time homebuyers. For more details about the government tax credit and eligibility requirements, visit www.irs.gov or contact your tax consultant.
"Fifth Third Mortgage is focused on helping first-time homebuyers close their home loan in time to still be eligible for the government tax credit," said Bob Lewis, president of Fifth Third Mortgage Company. "The clock is ticking to take advantage of these great opportunities."
Fifth Third Bancorp is a registered financial holding company and a multi-bank holding company. They engage primarily in commercial retail and trust banking data processing services investment advisory services and leasing activities. In addition the company provides credit lifeaccident health and mortgage insurance discount brokerage services andproperty management for its properties. Fifth Third Bancorp has a market cap of $7.44 billion; its shares were traded at around $9.36 with and P/S ratio of 0.87. The dividend yield of Fifth Third Bancorp stocks is 0.43%. Fifth Third Bancorp had an annual average earning growth of 8% over the past 10 years.
SunTrust Banks Inc. (STI, Financial), Tepper Weighting: 8.6%
SunTrust to Announce Third Quarter 2009 Earnings Results Thursday, October 22, 2009.
As of the most recent quarter, 2% of commercial loans are past due. 7.6% of residential mortgage and home equity loans are past due. 8% of commercial real estate and construction loans are past due. 4.2% of consumer loans are past due. 0% of Credit card lons are past due. Overall, 5.6% of all loans are past due.
SunTrust Banks Inc. is a commercial banking organization. The company provides a wide range of services to meet the financial needs of its growing customer base in Alabama Florida Georgia Maryland Tennessee Virginia and the District of Columbia. Its primary businesses include traditional deposit and credit services as well as trust and investment services. (Company Press Release) Suntrust Banks Inc. has a market cap of $10.55 billion; its shares were traded at around $21.15 with and P/S ratio of 1.15. The dividend yield of Suntrust Banks Inc. stocks is 0.19%. Suntrust Banks Inc. had an annual average earning growth of 2.3% over the past 10 years.
Regions Financial Corporation (RF, Financial), Tepper Weighting: 0.12%
Regions Financial Corporation to Announce Third Quarter 2009 Earnings Results Thursday, October 20, 2009.
Regions Financial Corporation is a regional bank holding company and has banking-related subsidiaries engaged in mortgage banking credit life insurance leasing and securities brokerage activities with offices in various Southeastern states. Through its subsidiaries Regions offers a broad range of banking and banking-related services. Regions Financial Corp. has a market cap of $6.88 billion; its shares were traded at around $5.79 with and P/S ratio of 0.71. The dividend yield of Regions Financial Corp. stocks is 0.69%. Regions Financial Corp. had an annual average earning growth of 1.2% over the past 10 years.
DISCLOSURE: The author of this article owns BAC stock.
David Alan Tepper is the founder of Appaloosa Management, which is a $3 billion hedge fund investment firm based in Chatham, N.J., just west of New York City. Today, as president and founder of Appaloosa Management, Tepper has earned an international reputation for producing some of the highest returns amongst fund managers on Wall Street. He earned a master of science in industrial administration from Carnegie Mellon in 1982. He was once considered to be the hottest investor on wall street.
As a note of interest, On September 25th 2009 Tepper purchased a portion of the Pittsburgh Steelers.
David Tepper is reputable candidate to provide ideas to individual investors. Given the fact that 59% of his holdings are in banks and there are only 4 banks, perhaps this is a place to look. With only 4 bank holdings, it can be assumed that he has done a lot of the research for you. All that is left to do is decide for yourself whether to buy or not.
Bank of America Corp. (BAC, Financial), Tepper Weighting: 37.86%
Bank of America Corp to Announce Third Quarter 2009 Earnings Results Thursday, October 16, 2009.
On October 2, Bank of America Corporation said that the Board of Directors has authorized approximately $713 million in dividend payments to the U.S. government under the Troubled Asset Relief Program (TARP). The company this year has paid the government $1.83 billion in TARP dividends through September 30.
On September 31, Ken Lewis, chief executive officer and president, announced today that he has notified the Board of Directors of his decision to retire, effective December 31, 2009. The Board will continue ongoing planning to ensure his successor is selected by that date. Lewis will retire as CEO and as a director. It is not known if the board of directors was expecting his decision to step down even though there has been a lot of pressure from Wall Street.
Bank of America Corp. is one of the world's leading financial services companies. Bank of America provides individuals small businesses and commercial corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever wherever and however they choose. Bank Of America Corp. has a market cap of $141.37 billion; its shares were traded at around $16.34 with a P/E ratio of 29.18 and P/S ratio of 1.94. The dividend yield of Bank Of America Corp. stocks is 0.24%. Bank Of America Corp. had an annual average earning growth of 7.5% over the past 10 years.
Fifth Third Bancorp (FITB, Financial), Tepper Weighting: 12.36%
Fifth Third Bancorp to Announce Third Quarter 2009 Earnings Results Thursday, October 22, 2009.
Over the past 18 months, Fifth Third Mortgage Company has financed more than 16,000 loans to first-time homebuyers totaling nearly $2 billion. In the first seven months of this year, the Company financed nearly $1.05 billion in loans for first-time homebuyers. Visit your local Fifth Third Banking Center and speak to a Mortgage Loan Originator to find more information for first-time homebuyers. For more details about the government tax credit and eligibility requirements, visit www.irs.gov or contact your tax consultant.
"Fifth Third Mortgage is focused on helping first-time homebuyers close their home loan in time to still be eligible for the government tax credit," said Bob Lewis, president of Fifth Third Mortgage Company. "The clock is ticking to take advantage of these great opportunities."
Fifth Third Bancorp is a registered financial holding company and a multi-bank holding company. They engage primarily in commercial retail and trust banking data processing services investment advisory services and leasing activities. In addition the company provides credit lifeaccident health and mortgage insurance discount brokerage services andproperty management for its properties. Fifth Third Bancorp has a market cap of $7.44 billion; its shares were traded at around $9.36 with and P/S ratio of 0.87. The dividend yield of Fifth Third Bancorp stocks is 0.43%. Fifth Third Bancorp had an annual average earning growth of 8% over the past 10 years.
SunTrust Banks Inc. (STI, Financial), Tepper Weighting: 8.6%
SunTrust to Announce Third Quarter 2009 Earnings Results Thursday, October 22, 2009.
As of the most recent quarter, 2% of commercial loans are past due. 7.6% of residential mortgage and home equity loans are past due. 8% of commercial real estate and construction loans are past due. 4.2% of consumer loans are past due. 0% of Credit card lons are past due. Overall, 5.6% of all loans are past due.
SunTrust Banks Inc. is a commercial banking organization. The company provides a wide range of services to meet the financial needs of its growing customer base in Alabama Florida Georgia Maryland Tennessee Virginia and the District of Columbia. Its primary businesses include traditional deposit and credit services as well as trust and investment services. (Company Press Release) Suntrust Banks Inc. has a market cap of $10.55 billion; its shares were traded at around $21.15 with and P/S ratio of 1.15. The dividend yield of Suntrust Banks Inc. stocks is 0.19%. Suntrust Banks Inc. had an annual average earning growth of 2.3% over the past 10 years.
Regions Financial Corporation (RF, Financial), Tepper Weighting: 0.12%
Regions Financial Corporation to Announce Third Quarter 2009 Earnings Results Thursday, October 20, 2009.
Regions Financial Corporation is a regional bank holding company and has banking-related subsidiaries engaged in mortgage banking credit life insurance leasing and securities brokerage activities with offices in various Southeastern states. Through its subsidiaries Regions offers a broad range of banking and banking-related services. Regions Financial Corp. has a market cap of $6.88 billion; its shares were traded at around $5.79 with and P/S ratio of 0.71. The dividend yield of Regions Financial Corp. stocks is 0.69%. Regions Financial Corp. had an annual average earning growth of 1.2% over the past 10 years.
DISCLOSURE: The author of this article owns BAC stock.
