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First Niagara Financial Group Inc. Message Board

  • stocksinc stocksinc Jan 10, 2013 3:23 PM Flag

    First Niagara RIpe for Takeover - Wall Street Comments on Buyouts

    From todays Wall Street comment on Northeast Banks....
    Question to him about
    Mr. Schultheis: I'm a little bit different from those who say the M&A wave is coming. I think the M&A wave is here, but we don't recognize it for what it is because the multiples haven't expanded as much. Prior to the Great Recession, banks were being acquired for 2.5 or three times tangible book; now they are selling for 1.6 times tangible book.

    FNFG was named in the Wall Street Bank Outlook and is cheap at the current share price

    Banks are grabbing each other up.... I told you, insiders have been buying up all they can even outside their program. Why? Its cheap. One has been buying up since it hit thirteen. Why? He said it was a good price. First Niagara is CASH heavy and snatched up huge commercial accounts recently.

    (I hold FNFG)

    Sentiment: Strong Buy

 
FNFG
8.35+0.01(+0.12%)4:00 PMEST

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