% | $
Quotes you view appear here for quick access.

People's United Financial Inc. Message Board

  • thriftmannj thriftmannj Jul 20, 2013 1:49 PM Flag

    CEO and crew patting themselves on the back for INCREASING earnings from $64.6 mil to $62.1 mil

    It is absolutely hilarious that the CEO of PBCT thinks that he increased the earnings because the EPS went to .20 from .19 last year. Total earnings declined by $2.5 million! That is a significant decline in an improving banking environment. The only reason EPS went up was because of share buybacks, (at an over inflated price too) . The CEO is gloating that the numbers are all so good now. In reality, Peoples has significantly declining earnings and is losing market share. Only per share numbers are better because there are now less shares. If PBCT would have bought back all but one share of stock and only made $1 instead of $62 mil, EPS would have been $1 instead of 20 cents, and Barnes & Co. would have announced that he quintupled the earnings. That guy is just too smart.
    Also, analysts call Barnes the man who never met a fee he didn't like. He wants his people to find ways to sneak fees into every aspect of the bank. Especially ones that customers don't notice. The only problem is that the customers are noticing and they don't like it and they don't like Peoples United Bank. That is why earnings are declining. It is time for a new CEO with a different perspective on how a bank should make money. Buying back overpriced shares and charging fees until customers switch banks just doesn't cut it in the real world.

    Sentiment: Strong Sell

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The only thing that is increasing rapidly is the size of the short position. The smart money is betting that there is no merger/takeover of PBCT in the works. Shorting any stock that has a reasonable likelihood of a takeover is a recipe for disaster. The shorts are probably betting that PBCT will make an acquisition that will adversely effect the price of PBCT. The fact that it was down today in an extremely strong market environment is a very bad sign. Management is looting the company for their own gain.

16.29+0.07(+0.43%)10:29 AMEDT