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Wilshire Bancorp Inc. Message Board

  • stubonedoc stubonedoc Nov 3, 2007 1:19 AM Flag

    Do I sell now?

    I feel that I should get rid of this one to offset my China gains at tax season...anyone have any compelling arguments why to hold? Is a buyout really coming? Thank you in advance.

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    • With all the insider buying going on now I would hold. When tax loss selling is over it should be a great time to buy. The tricky part is tax selling could already be over or it could last till the end of the month. I'm buying in about a week before the month. Maybe the last day. Uncle Ben bernanke will cave in soon and lower interest rates again soon. The reason he hasn't done so yet is because he fears inflation. He should lower interest rates substancially now and deal with inflation after the banking mess is fixed. Cheers, Rome

      • 1 Reply to romannorga
      • If you believe wibc's management team can get it through the financial mess that most banks are currentlly dealing with, perhaps you might consider keeping the stock. however, if you feel differently sell it now! for the time being mr ben should leave fed funds and discount rates unchanged until a more clear picture of which way inflation is going head. well managed banks will survive regardless where mr ben set interest rates.

        wibc price/book is 1.54 which in my opinion is much to high for it considering other well capitalized bank (wb, sti, susq, bbt, jpm, c, etc.) are much lower. Therefore, a fair share price for wibc would be $6.30 ($5.73 current book value x reasonable price to book of 1.10 = $6.30). based on friday's closing price of $8.62 wibc is selling $2.30 more than indicated using the more reasonable price to book.

        bottom line is other banks afford a better investment opportunity than wibc!

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