By Susan Lerner, CBS.MarketWatch.com Last Update: 5:12 PM ET Aug. 28, 2001
NEW YORK (CBS.MW) -- Of all the names investors have for the analysts, fickle is the one they may choose to use for Kevin Szocik.
The Keefe Bruyette & Woods analyst on Tuesday upgraded shares of New York Community Bancorp (NYCB: news, chart, profile), Dime Community Bancorp (DCOM: news, chart, profile), Roslyn Bancorp (RSLN: news, chart, profile) and Staten Island Bancorp (SIB: news, chart, profile) just three trading days after he downgraded the New York thrifts. His call on Tuesday also included Astoria Financial (ASFC: news, chart, profile), which he had downgraded a month before.
Both last week's cuts and the current upgrades, however, were based on valuation and not fundamentals.