I felt the pain today, but none last week. Took the week off and visited Lake Ontario in upstate NY. Never even turned the radio, tv or a page in the newspaper. Being an ocean fan I felt like a fish out of water. Visited the Thousand Islands area and was really impressed by the extreme beauty, crystal clear water and the history that goes along with the beginning of the St. Lawrence Seaway and the surrounding area in Canada. Also did a fishing charter on Ontario, we got lucky, 2 brown trout approximately 6-7 lbs each and two King Salmon 25-27 lbs each. Tough getting back into the work thing but don't have a choice. As far as BHB goes we really aren't in terrible shape considering the Dow is off approx. 800 pts. Who knows, maybe we'll get lucky, it can't get any worse. Anyone hear from JEYLAB, I hope he is all right and nothing happened, he was only to be gone for 3 weeks. JEYLAB give us a holler, we are concerned. JS1032, GO YANKEES! I just finished watching a 7-0 rout over the Twinkies. What dowe have in Columbus, just in case?
I think you have analyzed BHB correctly and it should move up as people move $ back into the market. I don't think a takeover is reasonable as who would pay three times book with their own stock selling so low? Hang on for a move back towards $50.
What do you Bar Harborites think of $34 as an entry price? I see it's 1.37X book with a 3.8% yield. ROA at 1.87% and ROE of 15.61% are above industry averages though we're at the top of the earnings cycle probably. Maybe $60 a share at its peak was too much but $34 is too little. One concern I have is that the stock is very illiquid and it may be dead money for a while. What is the possibility of a buyout and who would be the buyers? (Is PHBK still in the area?)
Sorry about the delay in getting back to BHB. My vacation was great. Work has taken me from the south to the northeast for a couple of week. I had problems with the laptop, but it is fixed now. Went to Bar Harbor but could not get into the Board room to fix the joint.