2 Penny Stocks To Watch When The Financials Bounce – FBC, FBP

Add FBC and FBP to your list of penny stocks to watch for the remainder of the year. Both of these penny stocks have been getting crushed and they could bounce hard as short interest has increased.

FBP – This puppy has sold off from a high of 3.84 only a few months ago and is trading around .27. This stock is worthless but that does not mean traders can’t make a little profit from it on a short squeeze. When shorts decide to lock in profits it will cause this to rise and we expect to see a 200% pop on this baby by the end of the year. Don’t stay in and it might not be at the bottom yet but it worth adding to your list of penny stocks to watch.

FirstBanCorp, (the Corporation) is a publicly owned financial holding company. The Company provides a range of financial services for retail, commercial and institutional clients. As of December 31, 2009, the Corporation controlled three wholly owned subsidiaries: FirstBank, FirstBank Insurance Agency, Inc. (FirstBank Insurance Agency) and Grupo Empresas de Servicios Financieros (doing business as PR Finance Group). The Company operates in six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations and Virgin Islands Operations. On January 28, 2008, the Corporation completed the acquisition of Virgin Islands Community Bank (VICB).

FBC – Another worthless stock currently trading around 1.90, but sold off from $9.00 about 6 months ago. This might not be at the bottom here, but the same thing could happen with this one. Keep this on your list of penny stocks to watch.

Flagstar Bancorp, Inc. is a savings and loan holding company. The Company’s business is primarily conducted through its principal subsidiary, Flagstar Bank, FSB (the Bank), a federally chartered stock savings bank. As of December 31, 2009, the Bank operated 165 banking centers (of which 30 were located in retail stores), including 114 located in Michigan, 24 located in Indiana and 27 located in Georgia. Through its banking centers, the Bank gathers deposits, and offers a line of consumer and commercial financial products and services to individuals and to small and middle market businesses. It also gathers deposits on a nationwide basis through its Website, FlagstarDirect.com. The Company’s business consists of two operating segments: banking and home lending. Its banking operation offers a line of consumer and commercial financial products and services to individuals. Its home lending operation originates, acquires, sells and services mortgage loans on one- to four-family residences.

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