Financial Services Update
Valuation tables for large cap stocks in the Money Center Bank and Brokerage Sectors

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November 2003

NOTE: Although the tables below are checked and double-checked for accuracy, and may at times be 100% accurate - do NOT count on that. Please confirm through your own research any numbers on which you are to make a buy, sell or hold decision. The Price-to-Book calculations treats Preferred Stock as a debt and not an equity - thus those calculations will vary from most other published numbers. October marks the first month I have posted these numbers, and there may be bugs in the javascript that I currently am not aware.


Money Center Banks for 11-28-03


Money Center Banks News

Monthly Sector Summary     During the month of November, the year-to-date sector price gains fell from 34.05% to 31.52%. This is probably due more to the scandal in mutual funds to which some of these companies are involved than the fundamentals, because the fundamentals rose. Sector midyear-to-date 03 EPS estimates rose from being up 4.72% to 7.09%. The dividend coverage [or useage] ratio fell to 43.45% from 44.36% due to those rising EPS estimates. The sector PE ratio fell to 14.38 from 14.62.

Brokers for 11-28-03


Broker News

Monthly Sector Summary     During the month of November, the year-to-date sector price gains fell from 52.12% to 47.43%. Sector midyear-to-date 03 EPS estimates rose from being up 12.64% to 26.45%. The dividend coverage [or useage] ratio fell to 16.81% from 16.04% due to those rising EPS estimates. The sector PE ratio fell to 19.09 from 19.15.


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