Believe it, prepare yourself for 5 more tough years. I have no guilt as I didn't votr for him the first time and I therefore didn't need this lesson.
Needless to say, i will not be voting for him the next time either.
Our big problem now is the crooked anal's.They must of thought that half of HCBK's branches are located in Greece,and that is why we took a big hit on 11/1/2011,a la boilers school of thougt.
I don't believe Obama will be re-elected. According to Rasmussen, twice as many people strongly disapprove of his performance as do strongly approve. Whoever the Republicans come up with will win, in my opinion. That can only be good for banks.
Also agree that there are a lot of holders from higher levels, but most are probably high enough to allow some breakout from the current range. It is troubling that interest rates are supposed to be artificially held low for several years, but Hudson was doing the right thing leading up to the credit crisis and got hosed by legislation. I think they're adept enough to figure out the new lending environment and make money within the next twelve months.
Are you serious HCBK is still a mess
Their net interest income is continuing to shrink at rapid rates and they can't reprice their liabilities because they are the only bank in the world half funded by actual debt.
PNC has $36 billion of $260 billion assets of actual debt HCBK is 20% over 50% and it used to be higher.
Until they run-off their MBS security business and just go straight into loans this stock is not a buy. They should sell all their MBS's right now and pay off their debt.
This would increase their NIM to about 3.5% from 1.7%. Then they still have high efficiency the bank's leverage would drop to about 7.5 to 1 from its current 12.5 meaning they can increase deposit rates to attract more deposits and perhaps improve their s.hit website.
As of right now you would be dumb to buy HCBK when its underprovisions for losses is easily 700 or 800 million. It has a horrible business model too. Its earnings maybe 8% on equity now and just wait for the future. This is a low level stock
I agree with your sentiment. I am considering buying a small amount of HCBK, possibly dollar cost averaging at these rates.
But it will most likely be YEARS before we get out o this low interest rate/delevering cycle. Look at Japan. I think that's our future. A decade or more of low interest rates and a slow economy. It's already been 3 years of high unemployment rates. Interst rates won't go up until unemployment goes down.
would you buy bonds when the fed has rigged the rates?
i think it is smart shrinking the sheet here holding firepower for better rates
would shareholders be happy if they loading up on 2-3% MBS ???
this is the chance to buy bancorp on cycle of low rates and slow biz
when it heats up and times are somewhat better then maybe good to sell
cycle stocks ????
these are way under book . HCBK has a kicker in that it may be sold out at say 105% of book
11 a share
Your attitude concerning HCBK has certainly changed since the beginning of the year, eh tiglet? I told you back in January it would be at least 2 years before these guys show any improvement, and you responded by telling me that was a "dumb thing to say". Still feel that way???
Ladies and Gentlemen, when the CEO of an organization, in this case Mr. Ronald "song and dance" Hermance, Jr. REPEATEDLY tells you that he sees ZERO growth in his business for the foreseeable future, why would anyone even think about buying stock in that organization? The bottom line here is simple: they are giving you absolutely NO reason to believe their earnings outlook is going to improve as long as the Fed and Treasury continue to push interest rates down. The Fed has already committed to holding rates at "exceptionally low levels" for at least the next year; these guys are "dead money" at best for at least that long (if not longer)....
As for any dividend increase: NOT likely for quite a while; they'll be lucky to maintain the current dividend level.....
Are you kidding? They missed by a penny and shrunk their balance sheet by 15%. The bank is shrinking faster than George Castanza's pecker on a December Alaskan swim. While I don't think it will implode, raising the dividend is the last thing on the BOD's mind right now.