As FNFG further integrates the HSBC branches and adjusts to the operation twist spreads and grows its deposits it will quickly build its tangible book value into the low Teens. Dividends will be increased and the stock will return to its historical valuation of 1.5 to 2x TBV its easily worth $14 now and $20 plus in two years.
I believe we will see a takeover or buyout of First Niagara in the near future. I wanted to be in it when that happens. I seen they have something going on with Five Star Bank too. When we see the big boys talking its oversold it began to get a lot of attention. Today they talked of its dividend too.
When you see CEO's of 2 different banks talking look out! It was the same situation when Harleysville Bank CEO Paul Geraghty met with the FNFG CEO. And what happened after that is history! As for having enough stock to fire these guys, good luck! These guys have millions of shares of this stock and the chances of getting over 50% to get them fired is slim to next to none! Plus, knowing Wall Street they will cause much panic if the CEO was given the ax!!!!
You post this and then say that I don't know what I am talking about. You obviously don't know what is going on. You probably believe that nonsense about the conversion being a "home run". Open your eyes and face reality and stop getting your research from press releases. By the way, what is the real TBV now that the HSBC deal has been completed?
The Tangible book value will be north of $9 after the third quarter at the present current interest rate environment. TBV is a great price to pay for a bank that is making money. Shorting it down here is just plain stupid.