Are these banks suitable for contrarians?

Using the stock screener on the Zacks Investment Research website, the following stocks within the foreign banks industry are contrarian in terms of price to earnings, price to book value, price to cash flow and dividend yield. The average values for the industry at the close of 20/7/2010 are the following; price to earnings is 10.9, price to book value is 1.22, price to cash flow is 9.95 and the dividend yield is 2.48%. These stocks are below the industry average for the former three ratios and above average for the latter. Without going into much detail in this post, these could be good stocks to buy into due to negative sentiment surrounding these stocks. These also have generally good fundamentals in general. However, more analysis is needed to make sure if this is the case. Over the next couple of weeks, I will conduct further analysis on the stocks [where sufficient information is available] to find out whether these are a good buy or not.

The financial ratios of the stocks that meet the above criteria are listed in this PDF file

The financial ratios (price to earnings, price to book value, price to cash flow and dividend yield) of the rest of the stocks in the same industry are listed in this PDF file.

Full Disclosure: No positions in the stocks mentioned at this time