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People's United Financial Inc. Message Board

  • bugarloaf bugarloaf Jan 20, 2011 5:20 PM Flag


    The management are serial destroyers of wealth for current shareholders! Another deal that will put at peril the stock return for the first and possibly best half of 2011. Just when the price was climbing out of the basement management pays a rich premium in a dlilutive deal for an average bank. The price of PBCT will be pressured through to the clossing which is not till late 2Q. OUCH! Own quite a bit of stock and would love the SEC to look at the most recent F4 for substantial sale made by Sen Exec VP on 12/31 at the price of 14.07 smells funny. Not sure if the token buyback can be used till after the deal closes and the arbs tear the stock price apart. Thought management worked for the shareholders...wrong again! Remmember the lows for 2010 were made into the closing of the earlier deals. WHAT ABOUT THE DIVIDEND INCREASES MENTIONED IN EARLIER CALLS AND RELEASES!!

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    • They are starting to create the largest and most valuable independent banking franchise in the Northeat. The aquistion of Brookline Bancorp is next giving them major presence in MA. Jack Barnes use to work for Paul Perrault, former CEO at Chittenden, now Brookline CEO. Peoples will probably not survive independently as they would become the major target for any bank that wants to enter the Northeast market.Wells Fargo,PNC, Canadian banks or others. The premium paid would be substantial.Don't get out to early as you will leave a lot on the table.

    • Yes; Danversbank also has a lot of "hot money" rewards checking money at a rate of 3%. When PBCT decides to get rid of this, they will lose a lot of depositor customers to local bank competition, as other local banks like Cambridge Savings still exists that offer this. Even for local banks out there, there are better places to bank out there. FWIW, I would do business with some nationals before I do business with PBCT.

    • they will still have 500 million in cash too, after deal is done.

      i am sure this will be seen as a positive even if there is a decrease in the div. short term.

    • How is dnbk a bad bank, and how is this bad news.

      They have 2.2 billion in investments, and less than 200 million in debt. Just a quick look at the finances.

      PBCT now ownes the north east coast, and the 4Q performace for pbct was amazing.

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