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Matrix Bancorp, Inc. (MTXC) Message Board

  • teddy_duggan teddy_duggan May 18, 2010 7:29 PM Flag

    No Bullshit...

    UWBK should be trading a lot higher. Did you know that when it comes to Government Guarantees, they rank 5th in the nation with banks their size?

    That means that 14.13% of their loans either 30-89 days past due, 90+ days past due, or in non-accrual, are Government Backed and guaranteed. Compared with 5.91% as the average with its peers (banks of a similar size.)

    I keep trying to tell you guys (as the price keeps falling & falling) that this bank is doing a hell of a lot better than a bunch of banks that are trading higher than them, AND have a bigger float. I just don't get it.

    Well, in the fall 2008, when most banks in the country were falling like it was the end of the world, this one actually went UP. I believe there will be a flight to safety soon, and BAC and GS and C and WFC might get hit, but I think UWBK is actually going to go up while they go down. Maybe it's just wishful thinking on my part, or maybe not.

    Do you realize there are a whole mess of banks that actually have FDIC Consent Orders slapped on them, and they're STILL trading higher than UWBK? Bananas. Around 1.20 might be the low for this. I have an order in for another 25K shares at that price so I can bring my average down. But I won't be selling when it hits my buy-in price. I'm gonna wait it out so that I can sell it when it's sitting @ $5 a share by this time next year.

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    • Did you know that they sell all of there government gtd. The loans you are looking at are non-gtd. commercial real estate loans....

    • I'm with you on this. I was lucky enough to exit at 1.55 as I was the very first to get my sell-orders through in AH after the bad earnings report (I only had 8k shares). I now own 3k shares and will make this my largest position as it keeps dropping. I did the same with BCS last year and it paid off... I think this is an easy triple from here but will wait until it bottoms to go in heavy.

      • 1 Reply to phoqoo
      • The market's about to take a serious dump. And I guess it all depends on their non-performing assets.

        Are they going up? And, if so, what are they implications for them?

        They need to sell that sh!t and get it off their books, is what they need to do. Or do what WFC did - sell of the "shit" that was actually performing, and that's how they were able to post a surprise profit for the last couple of qtrs. Now you could just short them with impunity, though. I guarantee you.