Worst Performing Bank Stocks (DSL, FED, CORS, GRAN, NCC, BKUNA, VNBC)

247wallst — Sat, 27 Sep 2008 06:46:00 +0000

The carnage and fallout from the Washington Mutual (NYSE: WM) failure on Friday was broad-based and very ruthless in the banking sector. Most companies had no news, yet speculation of exposure and related counterparty and credit default risk drove investors to sell almost all questionable banking names.

Bank Stock (Ticker)                   Close (drop and %)    Volume
Downey Financial Corp. (DSL)    $2.03 (-$1.87; -47.95%) 3,663,566
FirstFed Financial Corp. (FED)    $10.04 (-$8.21; -44.99%) 1,972,956
Corus Bankshares Inc. (CORS) $3.75 (-$1.05; -21.88%) 993,442
Bank of Granite (GRAN)             $4.50 (-$1.58; -25.99%) 65,354
National City Corporation (NCC) $3.71 (-$1.28; -25.65%) 326,015,615
BankUnited Financial (BKUNA)    $0.79 (-$0.21; -21.00%) 1,200,562
Vineyard National Bancorp (VNBC)$1.10 (-$0.28; -20.29%) 81,173

There were also several REIT and other non-bank financial stocks that performed worse than some of these, but these were the banking related names that tanked after WaMu became Shamu.

Jon C. Ogg
September 27, 2008

Posted in Banking, HI/LOW Tagged: BKUNA, CORS, DSL, FED, GRAN, NCC, VNBC

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Worst Performing Bank Stocks (DSL, FED, CORS, GRAN, NCC, BKUNA, VNBC)