Doesn't make sense---this stock should not be this low---19.00 should be average, even with the doom & gloom surroundinmg us---the bank is in excellent shape and still paying us our due--
Almost looks like a few hedge funds are driving the pps down for a rebound back up--we were 23.00, not two weeks ago---what a difference 2 weeks makes--
Mr. Tryninski should roll up ROME/BFED/SCAY .. All are trading on the very cheap side, along with complacent boards, lousy management, and no plan! Put their shareholders out of their misery!!!
Of the three, ROME is probably the only one of interest (SCAY is a MHC while BFED's MA, TX, TN operations don't appear to fit CBU's strategy). That said, holdings of 23% by directors and almost 10% by an ESOP likely mean that ROME won't get sold.
It just goes to show you Grange Bank should have never sold out to the big bank We were never and should never be this low and the bank is doing good so why are the stocks so low . Are the people who run the show getting rich/
Not sure who Grange Bank is or was----I believe with the pps of the Bank some questions are in order for the CEO, and the Board---what if anything are they doing to bolster our stock price, such as buying back shares a little at a time---decrease the number of shares on the street---but then it wasn't that long ago they were selling shares to raise capitol---to buy other banks--I think I'm correst on that---still think hedge funds are playing with the stock--as well as day traders following their lead, the stock doesen't appear to beable to find a stable level which to grow at every day we bounce up and down---their are over 4 million shares short the last time I checked that I think is 13 % of the stock, something wrong there the bank is in great shape and the price doesn't show it----I would suggest that there could be some naked shorting going on--this is illegal--someone should check the German exchange as this is where the practice continues, I doubt the bank has authorized any other exchange to trade our stock except here is the U.S.---I would think the officers of the bank should look into this possible practice----the people who run the show when they buy their options must put an order in at a certian time of day, then they I understand have to go with the price at the end of the day---if their intend is to buy or sell--doubt their making big money at this time---the pps in my mind should be in the 19-22 dollar range, Maybe the holders should show up at the next meeting with serious questions and there should be some serious responses from the people who make the big bucks---that's my take---
My take on all this is the hedge funds driving the stock down anytime you get a short rally---then the little guys w/ 300--500 shares jump on the wagon going short w/ them--yesterday was a good example---
But,one of the main ingredients is the fact that all one reads in the daily news is bad news--world wide--however I believe investors ( the big boys) have lumped all finical instutions into one ball---and they are all being shorted---
The govt. (tressury), needs to tell the SEC to halt shorting of finical insturtion at least for a short time to cease shorting will send the price up----but they won't there's to much money being made by these people and by the NAS therefore doubt that would happen
That's my take---but I'm probably only half right---
CBU is continuing with their quarterly 22 ct dividend, so that is reassuring.
What I would like is some statement by management about their reserves for losses. People and going to quit paying their mortgage obligations, and it sure don't look good.
Posted this on a different board, BUT same logic applies here as well!