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Doral Financial: Have We Hit Bottom?

As of late, banks have been gaining some lost ground as the market has started to reward those showing signs of repair. I have been reviewing Puerto Rican banks lately looking for hidden gems and of the four I have had in my sight, Doral Financial Corp. (NYSE:DRL), is the only one still trading around its five-year lows. Before I begin, I want to make it clear that I have found nothing appealing about the bank's financial position and performance but, as a contrarian investor, a small part of my heart likes the beaten down value the market is currently placing on the company. With that in mind, I am only right now putting it on my watch...

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