It was a slow decline to $19, but now there is no more support. A collapse to $15 will happen rapidly.Get out while you still can or you will be holding the bag for at least the next 3 years.
PBCT will go sub 10. Even $15 a share it still sells at a PE nearly twice it's peers. I've been banking w/ People's for many years and got all their IPO application materials. I'm glad I did my homework and decided not to buy. I'm even happier that I advised my family and friends not to buy as well.
up up and away for pbct busted hedge fund bot at issue and n0w or last few days need to sell to liquify , they are selling things they acually like
pbct fair value 19 lot of cheap stock around this giant margin call selling nothing to do with the company some fellows over extended the use of margin leverage instments geared up too much banks now on risk patrol , so lots of highly gear folks needs to sell good stocks !!! pbct was bot buy the hot money at 20 , now sellers...this is 19 a share stock not 20 though joco
Wall Street has lost confidence in PBCT management. First the absurd purchase of a bank with no synergies with PBCT for an insanely high price. Now there is word that the proceeds from the second step were invested in risky investments and now a substantial loss will need to be recorded. The big boys all know about this. That is the reason for the recent sell off. Announcement of the loss will be made in the next quarter. This stock could settle in the $8 range. Remember what I told you about the trip to $15. Heed the warning this time. Get out now. Buy back when it is below $10.
I have to admit that I thought you were only bashing PBCT because they did not buy your beloved NAL. But now it appears that you knew what you were talking about. I am sorry that I did not listen to you. I will from now on.
$15 would be an awesome opportunity to buy more. Buy as a stock drops not as it rises. Yeah, they pumped up the stock before the IPO to get more money out of going public...that was not the time to buy. And yeah, it seems like the execs got a sweet deal. However, the company said they wanted to expand out of state; here they go. This positions them well in Northern New England and gives them a base to expand there while Bridgeport is a perfect location to expand in southern New England. They are located directly between New York and Boston; New England will belong to People's United.
Peoples bank doing the New England Corridor.. true they are making the right moves for it.. the question is, when will Citibank wake up and realize that Peoples post acquisition will be the right bank to swallow up to establish a non-costal CT and MA presense?
This is an awseome transcation and will be a significant growth opportunity to the company and share holders. Watch and see once the news settles in the stock will be upgraded and the price will rise to $25.00 in the interim.
You must be shorting this stock . That would explain your incessant whine. The announced acquisition makes sense since it is accretive and goes into a geographic area not aggressively pursued by all of the other banks in the area. People with patience not spooked will do just fine over the long term. Anyone that is convinced they can make a killing inthe market in the short term either has insider info or is simply gambling. It has never been that simple.