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Arch Coal Inc. Message Board

go4invest 3 posts  |  Last Activity: Mar 11, 2014 1:51 PM Member since: Jan 19, 2005
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  • Can someone explain please? TIA.

    Younes: Yes. The second bank is Bank of Ireland. We all know about the problems we had in Ireland. That’s why, after the crisis, opportunities usually occur. And in Ireland, the banking sector is even more concentrated than in the U.K.

    Bank of Ireland has a deposit market share of about 40%, and the second largest one, Allied Irish Bank, has about a 35% market share. Ulster Bank, which is owned by Royal Bank of Scotland, has a market share of about 15%. So three banks own about 90% of the market.

    This is crazy. And if you look at Bank of Ireland, it’s only trading today at 1.1 tangible book. Again, this is a stock that when the cloud disappears, like Lloyds, should easily make an ROE (return on tangible equity) in the high teens. Again, this is a bank that should easily be trading at 2 times tangible book or more. Today it’s at only 1.1 times. And, within a year, we expect also this bank to start paying a dividend.

    Forbes: For how long do you anticipate to hold these stocks?

    Younes: It’s going to be a gradual appreciation. The time to sell these banks is when everybody’s excited and you’re starting to hit two to three times tangible book.

    Forbes: Do you anticipate this could take a year to three years as an objective to recognize some of these goals?

    Younes: You need a combination of stabilization of the economy, better clarity on the loan quality, and some kind of modest loan growth. Some may rally faster than others, but again, these are blue chips. They are the dominant banks in the developed countries with great rules of law and the property law and good corporate governance. So, there is no rush to exit. You’re buying after a crisis, so it’s a multi-year rally.

    Forbes: Sounds good.

    Sentiment: Hold

  • Reply to

    bofa/merrill raise ire to buy

    by local_yockle Mar 11, 2014 7:01 AM
    go4invest go4invest Mar 11, 2014 1:39 PM Flag

    Yes, BOA today 3/11/2014 upgraded IRE to Buy from Neutral and raised PT to @21.62 from $19.10. GLTAL.

    Sentiment: Buy

  • Reply to

    taking some off the tablee

    by blooooooodsucker Mar 11, 2014 11:21 AM
    go4invest go4invest Mar 11, 2014 1:51 PM Flag

    Too early to take profit buddy if you luckily bought her @ low price, with BOA upgraded to buy and raised PT to $21.62 today IRE will fly higher with new 52 week high soon and we should see her @ $25.00 by this summer. GLTAL.

    Sentiment: Buy

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