The fact that it is a good, conservative bank with very convenient locations in wealthy areas of the northeast that returns a very respectful dividend. Chances of rising interest rates will benefit this bank with a strong loan portfolio due to their conservative lending practices. I have been a customer for over 35 years and have dealt with many banks in my career for personal and business lending and none of the other banks compare to People's United.
Sentiment: Strong Buy
Disagree. Solid bank with many convenient Stop & Shop supermarket locations as well as strong internet and mobile platforms. The shorts are fools!
True. But it seems more than that. Have held for years and have not seen this kind of vol pre-ex-div. No news - wonder what's going on.
You obviously do not know the difference between book value and TANGIBLE book value. I suggest you learn it before investing any more money in banks.
During the dull conference call I heard that PBCT was trying to bring down overhead costs.
This morning PBCT announced the hiring of a new Senior Vice President for shareholder relations. The past shareholder relations job was a shared position of a vice president for corporate development.
Before I write to the BOD demanding the removal of the CEO would someone explain to me how this new Senior Vice President will bring down overhead costs above and beyond his salary! No wonder the stock dropped 2% today. The analyst got their number....or is this a banking family affair?
Dow up 300 points, PBCT down 2%+ . They declared a 16 1/2 cent dividend, and you lost 35 cents in principal. Nearly every other stock is up. It makes ZERO sense to be in this stock for the dividend. Unless you are shorting it, it is not a wise investment. This bank is not worth a penny more than Tangible Book value. No prospects for increased earnings ever and no prayer of a takeover. Only increasing executive pay and expense and increasing loan losses. $8.50 a share is all it is worth. That is why PBCT is one of the most heavily shorted stocks.
Sentiment: Strong Sell
Personal Finance Newsletter has added PCBT to its portfolio as of Sept 22nd.Their advice is to buy up to $21 and feel that PBCT will have an earnings growth over the next five years of 17%.
I do not own it but am looking at investing in it.
PBCT just borrowed $400MM for "general corporate purposes"--there is no specific plan for growth. The bonds pay 4%, until recently PBCT had free money in the company treasury. Management couldn't come up with a plan to invest much of the money so they used it to buy back shares and pay the dividend. If they couldn't put free money to work and earn a profit, what will they do with 4% money? This stock is dead money . Management should be fired.
Sorry, not good results. Per share earnings appeared to go up as a result of fewer outstanding shares but the bank actually made less money. They made less money, and there is no investment in the future of the company.