This dog is edging ever closer to my downside target of $11.50. I wouldn't even consider buying above that price. With earnings still in the dumps, the dividend is at risk. It's beginning to look as if senior management is harvesting as much money for themselves as they can at the expense of shareholders and ordinary employees. Given the dismal performance of the company, it would be very much in order for senior management to take an extended pay holiday. It's too late to sell and too soon to buy, IMHO.
I think 11.50 is too low. A good entry point would be 11.89; however, the market is over bought. I can't understand who is dumb enough to keep buying into this market. Federal debt keeps growing, local governments will keep raising taxes(further depressing the home prices), and real unemployment stands at 18%.
We're setting up for a historical stock market crash. If/When it happens you're 11.50 price may look too high.
I own this stock and plan on keeping it. It's a nice dividend and the dividend beats the bond funds I'm in but it's a small portion of my portfolio. Eventually this stock should be much higher as long as the company doesn't make any more acquisitions to pump up the goodwill.
Its time to change management. STOP LOOKING OUTSIDE PBCT FOR ACQUISITIONS AND LOOK INSIDE FOR SAVINGS. The first savings should be CUTTING MANAGEMENT SALARY BY 20% SINCE THEY MISSED EARNINGS. AMEN!!!!!!