A number of stocks jumped in the afternoon session after the major indices rebounded, as Fed Chair Jerome Powell delivered dovish remarks at the much-awaited Jackson Hole symposium. Powell suggested that with inflation risks moderating and unemployment remaining low, the Federal Reserve might consider a shift in its monetary policy stance, including potential interest rate cuts. This outlook eased market concerns about prolonged high interest rates and their impact on economic growth. The prospect of lower borrowing costs bolstered investor confidence, particularly in sectors that have lagged, leading to a broad rally across the market.
As the Q1 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the thrifts & mortgage finance industry, including TFS Financial (NASDAQ:TFSL) and its peers.
Small-cap stocks can be incredibly lucrative investments because their lack of analyst coverage leads to frequent mispricings.
However, these businesses (and their stock prices) often stay small because their subscale operations make it harder to expand their competitive moats.
Banks play a critical role in the financial system, providing everything from commercial loans to wealth management and payment processing services. But worries about an economic slowdown and potential credit deterioration have kept sentiment in check,
and over the past six months, the banking industry has tumbled by 6.9%. This performance is a noticeable divergence from the S&P 500’s 4.5% return.
Wrapping up Q1 earnings, we look at the numbers and key takeaways for the thrifts & mortgage finance stocks, including TFS Financial (NASDAQ:TFSL) and its peers.
TFS Financial Corporation is the holding company of Third Federal Savings and Loan Association of Cleveland. The company has been in business for 86 years and has a market capitalization of $3.5 billion today.
The Regional Banking ETF is down 13% since the collapse of Silicon Valley Bank in 2023, indicating investor distrust. Q1 earnings show resilience in the sector with positive revenue difference.
By the close of today, March 11, 2024, Cathay General (NASDAQ:CATY) will issue a dividend payout of $0.34 per share, resulting in an annualized dividend yield of 3.46%. Only those investors who owned the stock prior to the ex-dividend date on February 27, 2024 will receive this payout.
By the end of today, February 28, 2024, New York Community (NYSE:NYCB) is set to deliver a dividend payout of $0.05 per share, equating to an annualized dividend yield of 1.92%. Shareholders who owned the stock prior to the ex-dividend date on February 13, 2024 will receive this payout.
Today, February 19, 2024, marks an important moment for investors of First Interstate BancSys (NASDAQ:FIBK). The company will distribute a dividend payout of $0.47 per share, demonstrating an annualized dividend yield of 6.60%.
Today, December 13, 2023, TFS Financial (NASDAQ:TFSL) will distribute a dividend payout of $0.28 per share, highlighting an annualized dividend yield of 8.51%. Shareholders who owned the stock before the ex-dividend date on November 28, 2023 will be eligible for this payout.
By the end of today, December 11, 2023, Cathay General (NASDAQ:CATY) is set to deliver a dividend payout of $0.34 per share, equating to an annualized dividend yield of 3.62%. Shareholders who owned the stock prior to the ex-dividend date on November 28, 2023 will receive this payout.
