Please tell me that I got the wrong or bad information. I was in a hurry and hope that I just picked up some wrong figures. I'm serious and not just messing with you.
What I found was : Estimate of $2.78 a share for 2003 this was off the Yahoo Board
02Annual Operating results of Basic $2.78 a share Diluted $2.75 a share
02 Net Income Basic $2.75 a share Diluted $2.72 a share
I'm serious and hope that this is indeed bad information. Appreciate your posting me back. If this information is anywhere close to correct it explains a lot about the price movement. (There no slam intended as I know we have different goals and different investment styles fit us.)
I assume the first set of numbers should be headed '03. As I posted, the year is going to be better than '02, (but not the usual double digit increase). I'm guessing the reasons yopu'll hear will include margin pressures due to interest rates and one-time charges related to the merger (which will be recovered over the next few years). JAA has warned all year this would be a challenge. Looking at a single quarter or even a year is just a snapshot. you need to look at several years performance to judge a stock. Why will you see other banks with larger increases? . Some will have had bad years in '02 and '03 will look good by comparison . some will have a mix of business that worked in '03 but to really understand the banking business, the business cycle, differences in markets served, interest sesitivety, non-interest sources of income and other factors have to be compared. That's why I suggested that if you're seriously interested in understanding the business, listen to the webcast and you'll learn a whole lot more than messing on message boards. I spent a career in insurance and financial services and still learn things listening to ceo's analyst calls.