Regional banks - I think there may be some good opportunities here, so I decided to get involved.
I'm buying small positions in regional banks if:
1.There is insider buying.
2. The P/E ratio is less than 10.
3. Trades at no more than tangible book value.
4. Has a dividend yield of at least 4 percent.
I will add to the position as I see more insider buys if I can purchase for less than my average price. All positions will be bought in an IRA.
I have seen lots of $1 stocks with strong earnings and solid balance sheets triple, quadruple and more, but I have yet to see one go below zero.