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Univest Corporation of Pennsylvania Message Board

  • xiaolei79 xiaolei79 May 27, 2011 3:10 PM Flag

    FISI - One of The Best Community Banks

    It seems like no one's interested in FISI.

    -Extremely low level of NPA, awesome and stable asset quality
    -Ample liquidity and great capital ratios
    -One of the lowest P/E ratios with very high quality of earnings
    -Successful public offering at a decent price with no dilution to the original shareholders
    -The price now (15.50) is trading below their public offering price (16.35) in March
    -Fully exited TARP, both capital ratios and liquidity are further strengthened
    -Quarterly dividend increased to $0.12 from $0.10
    -Loan portfolio is expanding steadily superior to the whole industry
    -Outstanding management team
    -Adding back the TARP payment, they made $0.44 per share in Q1
    -The only flaw is that there is a 8.48% series B preferred stock; however it only deducts $370,000 from the net income

    I think this bank is ready to take advantage of the recovery since it's already quite strong in such a slow economy.

    What you guys think ?

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    • re FISI - yes it's a good bank, I have it on my screen. I like to buy below tangible book and FISI has to go down a little more to get into my buy range.

      • 2 Replies to clownbucks
      • Hi clownbucks, don't rely on tangible book too much;
        There are many banks trading way below tangible book value but with a very bad performance.
        For example, high non-performing loans; high expense compared to revenue(low efficient).

        Look back to the past two years,
        IBCA is very bad , it once traded way below tangible.
        WIBC is absolutely a liar; those Koreans did a good job on window dressing and hiding the bad loans. it also once traded way below tangible.

      • Why do you buy a bank stock? Especially a smaller bank, you can't be in it for huge capital gains. I buy them because (1) I like the dividend and (2) I hope they get bought up at a premium by a larger bank. Worked great for me on Commonwealth (gobbled by Citizen's)!

        FISI has a small 3.1% return; most banks are closer to 4%. I like QNBC at 4.3% plus my 5% discount when buying through the DRIP. UVSP price is depressed right now making a 5.0% return.

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