looking for opinion

[soupman]

any thoughts on SOV???

[BettorsChat]

I'll try to look at this stock this week and give you an opinon.

Others feel free to help out too.

[soupman]

thanks

[BettorsChat]

I don't like the PE at all as its too high IMO. Personally looking at any of these bank stocks is a wait and see. I believe several of them will be good long term investments though. It's just a matter of which ones won't fold.

[BettorsChat]

AP
Moody's to Review Sovereign Bancorp
Thursday January 17, 8:13 am ET
Moody's to Review Sovereign Bancorp for Possible Downgrade As Bank Takes Impairment Charges


NEW YORK (AP) -- Credit rating agency Moody's Investors Service said Wednesday evening it will review Sovereign Bancorp's rating for a possible downgrade.
Moody's is reviewing Sovereign's senior rating, which is currently an investment-grade "A3."

The review comes after Sovereign said it would take an impairment charge in the fourth quarter to reflect declining value in its consumer and New York metro segments.

Moody's will focus on Sovereign's ability to enhance its capital position, which is below similarly rated competitors. Moody's said it might be difficult for the bank to increase its capital ratios in the near term because of "continued weak profitability."

Sovereign also could face rising delinquencies in its auto, home equity and commercial real estate portfolios in the coming months, Moody's said.

[soupman]

thanks for your input