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PRISX, some single stocks: regional banks

edited February 2023 in Other Investing
I've turned the page on the big monopoly Canadian banks. If I could have thrown the money at them maybe a decade ago, it might have turned out nicely. I still own none of them. CM. BNS. RY. BMO. TD.

I love to hunt for regional banks that are not in the headlines and don't get mentioned by CNBC or Bloomberg. I think Zion and Regions and Huntington and the like have all outgrown their britches.

PRISX: TRP Financials. in the middle of the pack vs. peers, YTD. Still nothing to write home about. I've redeployed a bunch of it on the way up in 2023. I'm still holding it, much reduced, so I can curse at it. PRISX did nothing but chew my ass for a whole year, through 2022.

After some digging, I'm hoping that "slow and steady wins the race." Still holding BHB. Still pleased with it, though it's encountering resistance near its 52-week target price. Slow and steady seems to be their style.... I went to school in Princeton. I thought: check what's there. BPRN. Bank of Princeton. It's lately on fire. I'll wait for a pullback. They only put shares on the market in 2019. Still young. Over the maximum time-frame for BPRN, BHB beats it handily.

After much looking, it appears that banks have almost ALL done well YTD, so an underpriced one is like finding a needle in a haystack. But these are on my watchlist:

AROW Upstate NY, Glens Falls region.
CAC. Camden, Maine.
COLB and UMPQ are in the middle of merging, out West. That's going to be a huge powerhouse.

FNLC. I'm just about ready to cross this one off my list, as well as CMTV. The latter is just too illiquid. And FNLC doesn't hold up when compared to BHB...... UNB out of Morrisville, Vermont seems to have eaten a poison pill. Its numbers have turned south in a big way. UBCP is Martins Ferry, Ohio and environs. After catching my eye, it's not impressing me.

I insist on a dividend. It's gotta be 3% or more, unless there's something else in the numbers that really blows me away, in a good way. My method? LOL. I often look for out-of-the-way resort areas and/or elite neighborhoods where there is apt to be established old money, or incoming, up-and-coming new money arriving. (Thus, the Maine coast.) But that strategy only goes so far.

Otherwise, I'm just "living the Life of Riley" here.


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