The stock has been in neutral for several years and it would be nice for management to do some type of transaction - deposit or strategic acquisition. If they won't go over the 50 billion asset mark in fear of a dividend cut than this stock is nothing more than a glorified long term bond!
Managements view last week said they were staffed for a large aquisition HOWEVER A smaller one is very possible They now say going over 50 Billion is a certainty and whatever they acquire will be accretive
Everything that they have released implies that they are gearing up for an aquisition. But this bank is patient. They will not rush or overpay. They will do as they have always done, wait for the right deals!!!
I agree 100% with your statement, good management and the "bad" loans are a thing of the past. I believe the divvy will stay at the same amount for many quarters in the future. I like the lower stock price, great interest rate to buy more stock.
I'm not concerned about them rushing or overpaying. My concern is that they won't be allowed to go over the 50 billion asset mark without being told by regulators to cut the dividend. If they can some how be allowed to acquire a company say like Astoria with abundant cheap deposits and keep the dividend in tact that would be great. If not then they must look to be acquired in order to move the stock.
Several years of little stock appreciation isn't acceptable any more!