While bank and brokerage stocks took a dip last week on uncertainties about the presidential election, thrift shares continued to outperform banks.
The American Banker thrift index fell 0.75% Friday. But its index of 225 banks dropped 2.3%, and its index of the top 50 banks decreased 1.59%. Worries about asset quality among banks had shifted investor attention toward thrift stocks this summer. Investors have not shifted back to banks, even after third-quarter results indicated that bad loans were less of an issue than most investors had feared.