The 2009 performance of thirteen large US bank stocks is listed below:
|Bank Of America||BAC||2.10%|
|Fifth Third Bank||FITB||18.50%|
|Bank of New York Mellon||BK||0.50%|
The worst performer was Citibank (NYSE:C), which lost 50%. Despite being bailed out by the tax payers with billions of dollars Citi, did not recover like its peers. Citibank stock is now cheaper than the cost of a McDonald’s value meal.
The best performing bank on the above list is JPMorgan Chase (NYSE:JPM) which returned about 20% to investors. Regional giants such as Regions Financial (NYSE:RF), US Bank (NYSE:USB) and BB&T (NYSE:BBT) ended in negative territory for the year. While National City of Cleveland, Ohio was sacrificed by the Feds to PNC, Cleveland city rival Key Bank (NYSE:KEY) survived the crisis but still saw its stock lose one third of its value.
Compared to the performance of the US banks above, many large cap foreign bank stocks yielded higher returns to investors. Of course there were also some foreign banks such as Lloyds (NYSE:LYG) and RBS of the UK that were worse than the above banks, but most of the other foreign banks recovered strongly from their March lows.