Estimates earnings of $1.39...........actual earnings...a loss of $0.49.....This stock will nosedive tomorrow, ..back to the low 40s. I recommend you sell before the market opens to keep your loss under $5.
Based on the large short position I believe we will see 40 before 20! We are up over $3 on trading of just over 25,000 shares. If the shorts, 400,000 of them, "see the light" $40 is just reasonable with $50 possible.
During the dull conference call I heard that PBCT was trying to bring down overhead costs.
This morning PBCT announced the hiring of a new Senior Vice President for shareholder relations. The past shareholder relations job was a shared position of a vice president for corporate development.
Before I write to the BOD demanding the removal of the CEO would someone explain to me how this new Senior Vice President will bring down overhead costs above and beyond his salary! No wonder the stock dropped 2% today. The analyst got their number....or is this a banking family affair?
The following insiders sold, disposed of, stock in the last month
AUG 11 muller sold 48,800
AUG 12 muller sold 22523
AUG 13 muller sold 12673
AUG 15 Wilson sold 19280
AUG 15 ragon sold 20975
AUG15 gutirrez sold 31110
SEPT 6 andrews sold 24840.
I believe $16.50 to $17 is more realistic. SAN might be a good partner. Anyone is better than the retired management people in place collecting stock bonus.