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Investors Bancorp Inc. Message Board

  • lelticelo lelticelo Jul 11, 2007 4:32 PM Flag

    Disappointing performance

    Both Kearny and Investors are performing extremely poorly. I expected much more for both institutions.

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    • we have to continue to be patient. we are all still waiting for dividend decision which is over-due. it has been up-graded to buy by many last month. this will take off, the question is when? have faith.

    • Many of these small banks are doing poorly.
      PFS, ISBC and KRNY are among the worst.
      Management is part of the problem but I believe that all the publicity on the media about the sub prime and interest rates are making people want to sell.
      I don't think that all these banks are that heavily exposed to bad loans but the constant media attention has driven the buyers away.

      As of 3/31/07 assets that are delinquent for over 90 days for KRNY is 0.05%, PFS is 0.13% and ISBC is 0.2% of assets.
      The average of NJ standard peer institutions are 0.31% and 0.51% nationally
      Maybe the media should find out where the biggest delinquent loans are and stop blaming the small thrifts.
      Possibly they were bought by very large instiutions?

      The statistics that I gave was from the FDIC web site.

      • 1 Reply to thriftconvert
      • When you compare 52 week highs to current price the following are the results for many NJ and CT banks.
        MGRY -9.4%
        ISBC -17.8%
        KRNY -21.9%
        HCBK -16.8%
        PBCT -11.6% since 2nd step
        NAL -16.7%
        ABNJ -17.2%
        PFS -20.1%

        The point is that the whole segment is down not just a couple of banks. Maybe we're soon reaching a point where its time to buy at these levels. Go against the flow and a year or two from now you may be glad you did.

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