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People's United Financial Inc. Message Board

  • avdaugust avdaugust Nov 26, 2007 4:59 PM Flag

    p/e still high-buy back

    I am still waiting for the p/e to drop to a level that

    reflects value of the stock before I finally buy. I still

    don't own any as we still don't have a hand on the course

    of the compnay.

    they still are holding the buy back money in short term

    investments. I am sure they will make at ton of money as

    rates have gone done.

    they will also have made a ton of money from the proceeds

    of the stock sale and then buying it back for a discount.

    (curretly that would be about 20% from the offering.)

    Its getting close to taking a position as the market

    continues it downturn and the financials are involved

    in the sub-prime mess. we haven't heard any comments from

    the company on what its exposure is. it would help all

    investors on making investment decisions..so lets here

    from the investors on their thoughts. thanks

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    • From the company's Oct 17, 2007 press release announcing third quarter earnings:

      Commenting on asset quality, Sherringham stated, "As we have said many times in the past, our loan portfolio has absolutely no sub-prime or Alt-A exposure. Our asset quality remains very strong. Third quarter net loan charge-offs totaled $1.5 million compared to $4.1 million in the year-ago quarter. Net loan charge-offs as a percent of average loans on an annualized basis were 0.07 percent in the third quarter of 2007, compared to 0.18 percent in the third quarter of last year."

 
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