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MBNA Corporation (KRB) Message Board

  • buslepp buslepp May 19, 1999 9:30 AM Flag

    Fund Manager Likes KRB

    Growth fund manager likes the financial sector and KRB FWIW:
    http://www.audioinvestor.com/mainfeature.asp?lFeatureID=53

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    • I came across this today. I've been a holder of
      KRB stock for years but don't have any of their
      cards....not enough free stuff! Anyway, here's their new site
      where you can charge something and minutes later see it
      posted to your account. They claim the other card
      companies only update once a day and they do it in
      realtime. Why you would need this info minutes later I have
      no idea but here it is:

      mbnanetaccess.com/

    • clearly stated that AIG is interested in
      acquiring a credit card company...there were to related
      articles a week and a half ago...the only likely candidate
      the articles states is mbna...i was not able to find
      the link...sorry..im not making this stuff up folks,
      these are legitimate rumors, if there is such a thing..

    • the only takeover rumors are coming from these posts...where are you getting your information? MBNA is continuing with purchases of credit card receivables & counting their money. Why sell???

    • are ludicrous. What I hear from the MBNA end is
      that its just not gonna happen and that neither party
      is even interested. It has helped to drive the
      stock-price up though, which is a plus for us. KRB keep
      climbing....

    • krb has been more volitle lately because of the
      takeover rumors...there is no was a $150 million portfolio
      acquisition from some small bank know one over heard of took
      this stock up 2+ yesterday on 2mill +
      volume...starting to look like the old days...stock taken up on
      takeover rumors and substantiated with consistent earnings
      growth...

      not selling at this point...would love to see AIG
      take the next step...

    • for your reply. What you said is basically what
      DID happen. In spite of what you said, I did make an
      investment (gamble) in this stock prior to the X-div date,
      and sold only part of it for more after the X-div
      date.
      I got some of the dividend, but not all that I
      think was due me and we are still discussing (arguing)
      that point about the X-div date. So far, I think I
      have about broken even and may end up with some tax
      benefit, which is primarily what I was after. Thanks
      again. You were the only one who answered my
      questions.

      P.S. - I sold all of my KRB (MBNA) stock at 30 the
      other day. I move in and out of this one whenever it
      looks like I can make some money and so far it has been
      pretty good to me.

      Warm regards,
      H

    • the price of a stock always decreases by the
      amount of the dividend on the x-dividend date, so i dont
      see why that would be different w/ wpbc. earnings per
      share last quarter were .17/share. i dont understand
      the tax free statements made on the statement. it
      looks like easy money right. wrong! no such thing.
      balance sheet looks horrible, company is losing revenues
      not gaining them, and the stock has done nothing in
      the last 12 months. there is no free lunch. if u want
      to try to short it at 12 and cover at 6 good luck,
      but in my experience these things are not the way to
      get rich and definately not what i would call
      investing...buy solid companies and hold them instead. very
      interesting though, thanks for the tip. good luck!

    • Could some of you please review the news article
      that I have linked below regarding
      Wyman Park
      Bankcorporation, Inc. and interpret it for me from an investors
      standpoint. In
      other words, do you think that this might
      be a good buy? Will the price of the stock

      automatically drop by the amount of the dividend on the
      X-dividend date? Please help.



      WPBC

      12.625 , - 0.125
      News




      Wyman
      Park Bancorporation, Inc. Announces $6.00 Per Share
      Tax Free
      Special Dividend
      Thursday, May 20,
      1999 04:20 PM
      Mail this article to a friend


      LUTHERVILLE, Md.--(BUSINESS WIRE)--May 20,
      1999--The Board of Directors of Wyman Park

      Bancorporation, Inc. (OTC Electronic Bulletin Board:WPBC), the
      parent company of Wyman Park
      Federal Savings & Loan
      Association, announced a $6.00 per share special cash dividend
      payable on
      June 21, 1999 to shareholders of record as
      of June 7, 1999.

      Wyman Park Bancorporation,
      Inc., currently has 905,926 shares outstanding and will
      have an
      aggregate special dividend payable of
      approximately $5,436,000.

      According to bank President,
      Ernest A. Moretti, the special dividend is expected to
      be tax-free
      because it represents a return to
      shareholders of a portion of the proceeds raised when the
      Company
      went public in January, 1998. He further stated
      that a nontaxable return of capital would reduce the
      tax
      cost basis of each outstanding share.


      The Board of Directors took this action because it
      believes the current "equity to assets" ratio of over

      18% is excessive and will prove to be a deterrent to
      generating acceptable returns on equity over the
      long
      term. President Moretti stated that the Company will
      remain well capitalized with the "equity to
      asset"
      ratio exceeding 12% after payment of the special
      dividend.

      As of March 31, 1999, Wyman Park
      Bancorporation, Inc. reported assets of $72.7 million and
      total
      stockholders' equity of $13.3 million


      Wyman Park Federal Savings and Loan Association serves
      Baltimore County and surrounding
      communities from its
      main office located at 11 West Ridgely Road,
      Lutherville, Md. and serves Anne
      Arundel County from its
      branch office located at 7963 Baltimore-Annapolis
      Boulevard, Glen Burnie, Md.
      21060.


      CONTACT:
      Wyman Park Bancorporation, Inc.
      Ernest A. Moretti,
      President, 410/252-6450

      Quote for referenced ticker
      symbols: WPBC
      � 1999, Business Wire

    • I believe that Flash meant that they may acquire
      just their credit card portfolio. In either case,MBNA
      would make either a great acquistion for somebody or a
      great acquirer of somebody.

      I keep hearing that
      Chase is ready to make a major move and that KeyCorp is
      in play....but that's been around for awhile now.

    • Do you know anything about the financial world ?
      How would a lower tier Fortune 500 who's capitlaztion
      is under 4% even dream about taking over one of the
      50 largest companies in America. MBNA won't be
      taking over anyone except some small portfolio,
      generally in the $500 mm to $2 bil range.

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