Ready, Go!, Set
The fed was scheduled to release bank stress test results on Thursday, but surprise, surprise they came out mid-day today. JPM was the first I saw and they announced an increased dividend plus a stock buyback. The stock jumped 7%!
My big US bank holding (USB) announced at the end of the day that they are increasing dividend 56% and buying back stock (U.S. Bancorp increases dividend by 56%, authorizes a new 100M share buyback). They went up 4.5% and I have been thrilled with them (I bought a bit below $22 and they are now $31).
LNC also went up more than 4%, though I am unsure whether they were subject to the stress test.
I did see where Berkshire Hathaway "only" went up 1.5%. As a huge holder of WFC and BAC, I am surprised they didn't spike more. If I had seen that before the closing bell, I might have bought some shares as I think they have under-performed the recent rally.
I have consolidated some accounts I had with Wells Fargo Advisors into my primary brokerage account. My WFA had three dividend plays that I have held for at leats 5 years, O, OIBAX and XOM. I have added all three to my open dividend positions, so my readers will see that over the weekend. O and XOM have done very well versus Russell 3000, OIBAX was a bit below average (Intl Bond fund... perhaps too much Europe?).