Stock Predictions

This Bank Stocks forecast is designed for investors and analysts who need predictions of the best performing stocks for a specific industry: Best Bank Stocks. It includes 20 stocks with bullish and bearish signals and indicates the best bank stocks to buy:

• Top 10 bank stocks for the long position
• Top 10 bank stocks for the short position

Package Name: Bank Stocks
Recommended Positions: Long & Short
Forecast Length: 14 Days (8/5/15 – 8/19/15)
I Know First Average: 1.66% Long; 8.90% Short

The top 10 stocks for both the long and the short position were included in the 14 days forecast from 8/5/2015 that was part of the Bank Stocks package. For the long position Lendingtree Inc. (TREE) had the best performance during the predicted time horizon with an outstanding return of 16.50%. Another stock with an impressive performance during the time horizon was The Phoenix Companies, Inc. (PNX) with a return of 13.34%. For the short position, PHH Corporation (PHH) offered the largest returns to investors who shorted the stock during the predicted time period with a return of 34.32%. The average returns for the long and short positions were 1.66% and 8.90% respectively, both of which easily beat the S&P 500 return of -0.65% during the same time period.

On the 5th of August PHH Corporation (PHH) released their Q2 financial results. Even though revenue of $237 million, with a Y/Y increase of 20.9%, beats by $20.05$, the company’s EPS of -$1.20 may not even be comparable to the consensus of $-0.24. CEO Glen Messina stated “We have encountered delays in executing our strategies to drive organic growth and our servicing segment continues to operate at a loss”. Citing regulatory uncertainty, the volatile nature of the mortgage industry, and a need to increase scale, Messina announces a delay in the repurchase program.

Algorithmic traders utilise these daily forecasts by the I Know First market prediction system as a tool to enhance portfolio performance, verify their own analysis and act on market opportunities faster. This forecast was sent to current I Know First algorithmic traders.

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Please note-for trading decisions use the most recent forecast. Get today’s forecast and Top stock picks.