word on the street is some analysts did a risk management assessment of PBCT and they concluded there was no risk of any management.......
Barons has PBCT as one of the most heaviest increased shorted stock. Not sure what that indicates. People a lot smarter than me are betting on the PPS going down. I will reinvest the divi. until the buyout.
any thoughts are welcome
CFO bio from web site........Walters was most recently Senior Executive Vice President and a member of the Board of Directors of Santander Holdings USA, Inc., the parent company of Sovereign Bank. He joined Sovereign in February 2008 as Executive Vice President and Chief Financial Officer and served as interim President and Chief Executive Officer from October 2008 until Banco Santander acquired the bank in February 2009.
They used some of the capital on overpriced acquisitions. They used some more of it to pay dividends to shareholders because the actual earnings did not support the payout. They used the last little bit of it to buy back shares, so even though the bank earned less money it worked out to two cents more per share a looked pretty good. Oh yeah, since the did such a great job they took a few bonuses and optioned themselves a few shares. :)
never happen--the fat cat, BOD, and there are way too many of them just sitting back and collecting---got a good thing going and don't give a hoot about investors. I own to much of this--everytime climbs over$15.00 takes a plunge---not sure if it will get back to $15
The banked earned less money in 2013 than in 2012. The company bought back some shares so it looks like the bank earned more per share than it earned in 2012. But Peoples Bank bought back the shares with money that already belonged to the shareholders. Management used your money to buy shares so they could tell you that they earned you more money......so they could continue to earn big salaries doing a poor job.