10 Famous Financial Stocks to Sell

After poor earnings and revenue figures from financial stocks such as Citigroup C and Bank of America BAC recently, the outlook for the sector been hazy. Downbeat economic news that continues to weigh on banks, including high foreclosure rates and high unemployment, suggests things might stay that way for some time. That means investors need to think about new investing strategies for financial stocks and consider getting rid of bank stocks with dwindling value. As a growth investor, I rarely recommend financials because they simply don't have the fundamental strength I look for because of their business models. It's nearly impossible for a bank to post dramatic year-over-year earnings and sales gains consistently, and I never invest in a company that doesn't have strong growth potential. While a few financial stocks do stand out from time to time, what I'm struck by most right now is the number of financial stocks that aren't living up to their potential and could have investors cashing out very soon. To help you avoid future declines, here's my lineup of 10 famous financial stocks to sell immediately. HSBC HBC Market Cap: $179.34 billion HSBC (HBC) is a global banking and financial services company based out of London, UK. The British banking behemoth may be the world's largest financial services group, but shareholder returns haven't been reflecting that status lately. HBC slid into a downward trend last year and hasn't found the momentum to reverse its path quite yet. HBC stock is down -9.23% since the start of 2010 and shareholders looking for a rebound are finding themselves out of luck lately -- and could be waiting a while longer. Bank of America (BAC) Market Cap: $132.25 billion Dividend Yield: 0.3% Bank of America(BAC) is a bank holding company and a financial holding company with more than 283,000 employees worldwide. After hitting a new 52-week low last Thursday, BAC stock has shown little indication that you should expect to see a rebound in the coming days. EPS estimates are down and earnings are projected to stay down through the end of the year on weaker revenue. This summer has been rough for shareholders with BAC down -19.2% since mid May. Barclays BCS Market Cap: $59.72 billion Dividend Yield: 1.28% Global financial services provider Barclays(BCS) made news this week when it agreed to pay $298 million to settle claims that it violated the Trading with the Enemy Act and the International Emergency Economic Powers Act by allegedly conducting illegal transactions with banks in Cuba, Iran, Libya, Sudan and Burma. BCS stock has taken investors on a wild ride this year with plenty of ups and downs; shares are down -6.98% from this time last week. Citigroup (C) Market Cap: $111.98 billion Dividend Yield: N/A Citigroup(C) boasts approximately 200 million customer accounts and does business in more than 140 countries. But that scale has failed to help the stock out in the wake of mortgage related losses and slumping revenue. Citigroup share are down -5% in the last week alone, and off -20% from late April. Whatever swagger Citi had this year, it appears to be fading fast. To read the rest, head over to TheStreet.com