Financial stocks have been showing signs of life after a rather disappointing 2013. Take Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC), both up +10% since the first of the year. That’s almost double the broader market. This has caused many investors to view financials as some of the best stocks for 2013.
But the big banks aren’t the only stocks on the rise in 2013. A number of financial penny stocks and cheap banks trading for just a few dollars a share are heating up. These bargain financials have seen some very impressive gains lately. and if this trend continues, these picks could soar in the months ahead as financials hit their stride.
Top Financial Stocks To Watch 2013:Citizens Inc. (CIA)
Citizens, Inc., through its subsidiaries, provides life and health insurance policies in the United States and internationally. It primarily offers whole life insurance, endowments, credit insurance, final expense, and limited liability property policies. The company?s Life Insurance segment offers whole life insurance and endowment policies to high net worth and high income residents in Latin America and the Pacific Rim. This segment offers its products through independent marketing firms and consultants. Its Home Service Insurance segment focuses on the life insurance needs of the middle and lower income markets primarily in Louisiana, Mississippi, and Arkansas. This segment offers whole life and pre-need policies, which are designed to fund final expenses for the insured primarily consisting of funeral and burial costs; and limited-liability named peril property policies covering dwellings and contents. It markets its policies through home service marketing distribution system agents who sell policies, collect premiums, and service policyholders. The company was founded in 1969 and is based in Austin, Texas.Top Financial Stocks To Watch 2013:Credit Suisse Asset Management Income Fund Inc. (CIK)
Credit Suisse Asset Management Income Fund Inc. is a closed-ended fund launched by Credit Suisse Asset Management, LLC. It is managed by Credit Suisse Asset Management, LLC and Credit Suisse Asset Management Limited. The fund invests in the fixed income markets of the United States. It invests in companies operating across diversified industries. The fund primarily invests in United States high-yield corporate debt. The fund benchmarks the performance of its portfolio against the Merrill Lynch US High Yield Master II Constrained Index and Citigroup High-Yield Market Index. Credit Suisse Asset Management Income Fund Inc was formed on February 11, 1987 and is domiciled in the United States.Top Financial Stocks To Watch 2013:Dreyfus Strategic Municipal Bond Fund Inc. (DSM)
Dreyfus Strategic Municipal Bond Fund, Inc. operates as a diversified, closed-end management investment company in the United States. It primarily invests in long-term municipal investments. The Dreyfus Corporation serves as the investment advisor of the fund. Dreyfus Strategic Municipal Bond Fund was founded in 1989 and is based in New York City.Top Financial Stocks To Watch 2013:Premier Financial Bancorp Inc. (PFBI)
Premier Financial Bancorp, Inc., a multi-bank holding company, provides community banking services to individuals and small-to-medium sized businesses. Its deposit product line includes checking accounts, negotiable order of withdrawal accounts, savings accounts, money market accounts, club accounts, individual retirement accounts, certificates of deposit, and overdraft protection. The company?s loan product portfolio comprises loans for purchasing personal residences or loans for commercial or consumer purposes secured by residential mortgages; residential mortgage loans; automobile and personal loans, including unsecured lines of credit; commercial loans secured by business assets, such as real estate, equipment, inventory, and accounts receivable; unsecured commercial loans; commercial real estate development loans; financial and agricultural loans; and real estate construction loans. It also offers depository and funds transfer services; collections; safe deposit boxes; cash management services; automated teller machines; and bill payment, telephone banking, and Internet banking services. As of March 15, 2011, Premier Financial Bancorp operated 8 banking offices in Kentucky, 5 banking offices in Ohio, 14 banking offices in West Virginia, 1 banking office in Maryland, 2 banking offices in Virginia, and 5 banking offices in Washington, District of Columbia. The company was founded in 1991 and is headquartered in Huntington, West Virginia.Top Financial Stocks To Watch 2013:American Express Company (AXP)
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company?s product portfolio consists of charge and credit card products; expense management products and services; consumer and business travel services; stored value cards, including travelers cheques and other prepaid products; network services; merchant acquisition and processing, point-of-sale, servicing and settlement, and marketing and information products and services for merchants; and fee services comprising market and trend analyses and related consulting services, fraud prevention services, and the design of customer loyalty and rewards programs. In addition, it publishes luxury lifestyle magazines; business and travel resources; general interest, cooking, travel, wine, cocktail, financial, and time management books; and international and electronic editions. The company sells its products and services to consumers, small businesses, mid-sized companies, and large corporations through direct mail, on-line applications, targeted direct and third-party sales forces, and direct response advertising worldwide. American Express Company was founded in 1850 and is headquartered in New York, New York.Advisors' Opinion:
By Quickel At 2011-10-30
Legg Mason Capital Management held $288 Million AXP shares on December 31st 2010. The stock holdings are almost unchanged since the end of September and it returned 8.1% since then. American Express gained 20.3% during the past 1 year, slightly underperforming the SPY.
By Jim Cramer At 2011-9-7
American Express (AXP) just doesn't get the rewards it deserves in this market with people constantly trying to lump it in with slow growth banks or Visa (V) and MasterCard (MA) which have been whacked by! the Fed because of debit fees. American Express is a credit card company with fewer and fewer defaults and excellent growth, especially with the rebounding world economy, and it should be treated as such. I see the company earning $4 next year and deserving a 15 multiple, more in keeping with double-digit growth companies. Call it $60.
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