Wed, Apr 23, 2014, 2:17 PM EDT - U.S. Markets close in 1 hr 43 mins

Recent

% | $
Quotes you view appear here for quick access.

Hudson City Bancorp, Inc. Message Board

  • btdarb btdarb Apr 30, 2013 5:34 PM Flag

    Quarterly Dividend REDUCED AGAIN.....by 50%

    You have to love the way Ronald "song and dance" Hermance casually mentions that his company is in such pis--poor shape that ANOTHER dividend cut, to the tune of 50% is required. He "won't reach for yield", but he and his fellow "executives" had no problem over-leveraging HCBK's balance sheet with expensive loans from the FHLB, which is why they are so desperate to complete the MTB "merger". Fellow shareholders, this clown and the rest of HCBK's management team don't have a clue, and WE are paying the price for their failure.

    Thanks for nothing, Ronald....

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • HCBK,small in coparison to MTB,however HCBK's debt is twice MTB. I think maybe MTB's shareholders don't
      like assuming this debt.Merger may not go thru,then HCBK will drop to $5. I'm out, I sold all I had,and broke even. May buy back in dips,but I feel merger looks sour.Hermance disappoointed me,I'm gone.

      Sentiment: Sell

    • I was concerned that once the merger w/MTB was completed I would be rec'g a reduced div vs hcbk.
      Thanks to Ron, I now will notice a higher div on MTB than I am currently rec'g on hcbk. Isn't that great!

      • 1 Reply to bigmmv1
      • Yep, go figure, huh? I'm not waiting around for the "merger" to be completed. If the Fed doesn't change course before the end of this year, I'm wondering if MTB will actually go through with the deal, when and if it ever gets approved. There are plenty of banks out there they could go after that don't have the debt load HCBK has tied around its neck. I'm just hoping to ride MTB's momentum a little while longer, and then I'll bid goodbye, and good riddance, to Ronald McDonald and his clueless cronies.

    • tamurph@att.net tamurph May 4, 2013 10:06 AM Flag

      I bought lots of HCBK one time at over 13. It has since been one disappointment over and over and a money loser. Unfortunately, I am pretty much stuck with it. Other banks are recovering, why not this one. I think we will be ok when and if the merger takes place. Will be relieved when that happens. Right now I don't trust Hudson management at all.

      • 1 Reply to tamurph
      • Sorry to hear you're stuck with shares at such a high cost. The reason the other banks have recovered and HCBK hasn't is the enormous amount of expensive, long-term loans from the FHLB they're saddled with. As for the merger with MTB, I think it's going to take longer than they expect to get it approved, and if the interest rate picture doesn't change in the next six months or so, MTB may rethink the deal...

    • Who is the main beneficiary by HCBK's dividend reduction? Since there is already a big cash position on
      the books that is not being invested, this cash should be disbursed to the current owners--HCBK shareholders---not kept for some future possible owner. Who's calling the shots here?

      • 1 Reply to bigmmv1
      • Greetings, bigmmv1. HCBK's stated goal in reducing their dividend (AGAIN) is to "further strengthen our balance sheet." Now who do you think wants HCBK to maintain a "strong" balance sheet? The answer is their "merger" partner.

        At this point, I'll be surprised if HCBK is paying ANY dividend by the time the "merger" is finally approved. Remember, these idiots are carrying an ENORMOUS amount of long-term loans from the Federal Home Loan Bank, at a cost of funds about 1.5% HIGHER than what they can make by lending to potential homebuyers at today's mortgage rates. As their net interest margin continues to DROP, they're going to need all the cash they have to meet their FHLB obligations. It's like trying to swim with a boat anchor tied to one leg, and they have nobody to blame except THEMSELVES.

    • Hernance has added nothing of value in years to HCBK, but he has lined his pockets real well nevertheless. He does not care about shareholders, only himself.

 
HCBK
9.962+0.052(+0.52%)2:17 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.