Every day, the sun rises on Wall Street, and a plethora of professional analysts wake to issue new opinions on stocks. Here at the Fool, we use our "This Just In" column to examine some of these picks -- and the track records of the firms behind them -- so individuals can make better investing decisions.
In addition to following professional banks, anyone can use Motley Fool CAPS to monitor the collective opinions of more than 135,000 members, many of whom demonstrate better investing insight than published analysts do.
More top-performing CAPS members are bullish on National Bank of Greece (NYSE: NBG) these days; the company has been spending more time at the highest five-star rating lately after spending much of the past year stuck at the four-star rank. A total of 566 members have given their opinion on the financial services firm, with many of them offering analysis and commentary explaining the recent optimism.
Many CAPS members had enjoyed National Bank of Greece's hefty dividend yield -- that is, until the company was forced to cut it because it took financial assistance from the Greek government. The bank had been sporting a payout of $0.54 for a stock that traded at less than $10, while U.S. banks such as Bank of America (NYSE: BAC), Citigroup (NYSE: C), and Fifth Third Bancorp (Nasdaq: FITB) have cut their dividends down to far less. Even with that sizeable dividend, the company still maintained a conservative payout ratio. But for the time being, National Bank must sit on its cash.
Greek's largest lender by assets has felt the effects of the credit markets, as has Wells Fargo (NYSE: WFC), but unlike many American banks, the Greek bank has taken a conservative approach to lending. It reported a 14% growth in deposits in the first quarter and managed 11% growth in interest income.
In July, the bank completed a rights issue and received a strong response from shareholders, who oversubscribed to the $1.77 billion issue. Whereas foreign institutions such as the U.K.'s Lloyds Banking Group (NYSE: LYG) and Royal Bank of Scotland (NYSE: RBS) have had to raise capital while facing adverse circumstances, the National Bank of Greece said that its offering was a proactive approach and did not reflect a deterioration in its business.
To see what the very best CAPS members are saying now about National Bank of Greece -- as well as other winning stocks they are picking -- head on over to CAPS and have a look.
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