SOURCE: Paragon Financial Limited

Paragon Financial Limited

July 27, 2012 08:20 ET

Regional Banks Posting Strong Results Despite Global Economic Slowdown

The Paragon Report Provides Stock Research on New York Community Bancorp and U.S. Bancorp

NEW YORK, NY--(Marketwire - Jul 27, 2012) - After an impressive start top the year the financial sector has cooled off considerably in the second quarter. The Financial Select Sector SPDR ETF (XLF) has fallen over 7 percent in the last three months, but is still up nearly 9 percent for the year. Regional banks have outperformed their larger counterparts in recent weeks with a string of better-than-expected earnings. The Paragon Report examines investing opportunities in the regional Banking Industry and provides equity research on New York Community Bancorp, Inc. (NYSE: NYB) and U.S. Bancorp (NYSE: USB).

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Banks have been posting stronger earnings and quarterly results than the previous quarter and the prior year KBW analysts have said. According to KBW's bank earnings round-up 46 of the 64 banks, 72 percent, have beat expectations. The 72 percent "beat rate" compares to last quarter's 67 percent rate and 69 percent in the year-ago-quarter. Despite posting stronger quarterly results banks shares have stagnated. The SPDR KBW Regional Banking ETF (KRE) has seen no change in the last month.

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With assets of $43.0 billion at March 31, 2012, New York Community Bancorp, Inc. is currently the 21st largest bank holding company in the nation. The company currently offers investors an annual dividend of $1.00 per share for a yield of 7.9 percent. For the second quarter of 2012 New York Community Bancorp reported GAAP earnings of $131.2 million, or $0.30 per diluted share.

U.S. Bancorp, with $353 billion in assets as of June 30, 2012, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. Net income attributable to U.S. Bancorp was $1,415 million for the second quarter of 2012, 17.6 percent higher than the $1,203 million for the second quarter of 2011 and 5.8 percent higher than the $1,338 million for the first quarter of 2012.

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