I would never place much reliance on Schwab's ratings. Over the past years, I've pulled up their ratings on companies that have had major shocks/news catalysts to see how their rating capabilities compare to others out of curiosity. One particular moment that stands out---I recall that the day PCX, a struggling coal company, declared bankruptcy, Schwab had that company rated a C with their analysis pointing to good cash flow metrics. Their rating and analysis was deleted from Schwab's site the next day.
Now I am NOT stating that FNFG is in any financial difficulty, only that Schwab's rating capabilities are not worth following. As a long time shareholder of FNFG with a relatively small holding, I would like to grasp at any positive news, but this is just not it.
At some point, FNFG's board and senior management will be held accountable for the train wreck they have created with their ill advised acquisitions. It's incredible that there have not been major changes made already. Maybe with the market around all time highs, the realization of this company near all time lows will sink in and awaken some shareholder activist. Until that time, it's difficult to be optimistic.
It's ironic this Bank did not need TARP, but now is in worse condition as reflected in their stock price.
that huge volume Friday is a good sign according to chartists, it usually preceeds a rise in stock price. I own a lot of this stock hoping it will go the way of M&T to $100 plus on earnings going forward or as someone said a takeover Institutions now own over 75 percent of the stock way up from previously
Funny you bring up M&T. They refused to buy those branches that FNFG did
because they were over priced. They also knew they would have ti divest a lot
of them as FNFG did for a loss. Shows you the difference when you have good
It still amazes me that FNFG has kept this CEO and board with all the mistakes they
have made and all the money they have lost.