Not sure what's going to move this. Not even dividend news helping. I noticed
in Barron's that the estimates for 2013 and 2014 have been reduced about a $1 each year. I am wondering if that has to do with the $13 million of interest they now can pay. That's about $1/year per share. I would think though that would already have been accounted for in any forward estimates.
Under accrual acctg the interest expense should be booked as it is incurred. I think the reason the estimates have been reduced is primarily the estimated reduction in refi activity as projected by the Mortgage Bankers Asso. Also the fed income tax rate will goback up to 35%. My opinion is that if interest rates start going up there will be fewer refis, but if the Fed Reserve keeps rates low many will continue to refi. Also if rates start up their net interest income will increase.
One further thing, this company is still growing fast even though eps is comimg down. The area they are in comprises the area of Amazon, Boeing, Costco & Microsoft. They are still adding branches in great areas, and operations in Cal & New Mexico. I think they will beat the Q1 est and I'm looking for $4.00 for the year. At a P/E of 5 and growth of way better than double digits,this stock is being given away.