-Extremely low level of NPA, awesome and stable asset quality -Ample liquidity and great capital ratios -One of the lowest P/E ratios with very high quality of earnings -Successful public offering at a decent price with no dilution to the original shareholders -The price now (15.50) is trading below their public offering price (16.35) in March -Fully exited TARP, both capital ratios and liquidity are further strengthened -Quarterly dividend increased to $0.12 from $0.10 -Loan portfolio is expanding steadily superior to the whole industry -Outstanding management team -Adding back the TARP payment, they made $0.44 per share in Q1 -The only flaw is that there is a 8.48% series B preferred stock; however it only deducts $370,000 from the net income
I think this bank is ready to take advantage of the recovery since it's already quite strong in such a slow economy.
Plus, you don't have to believe me, just do your own research then come back argue with me. If I said anything wrong, just point it out. I believe FISI is undervalued compared to the banking industry of medium and small sized regional and communitry banks. After you analyze its financial condition, tell me which aspect of FISI is weak: Capital, Asset Quality, Management, Earnings, or Liquidity.
I think this stock should be traded at $17 to $18, and there are plenty of similar high quality banks for comparison. For example, CCNE, NKSH, BHB, INDB, ORRF, AROW, MOFG, UVSP, CBU, NBTB, CFNL, GSBC, EFSC, EGBN, SBSI......
Don't just stand there and say this is a bad guy, tell me something that I don't know.
I would be very happy to discuss the financial conditions of the bank. Please, no more baseless criticism.