Earnings and press release speak for themselves.
Red ink to flow, lots more shares to be issued and thus dilution. More legal fees coming.
Thanks for the gains/profits over the past year Ted - I really appreciate it, but I'm not going along for this ride with you.
Good luck to all who stay - I wish you nothing but success with this investment and all others.
if you back out that one time gain, you get bottom line EPS of roughly 13 cents and that's not bad. last year they did 15 cents for the quarter, but that had the bargain gain included - so it was much worse...really a loss without it.
if they do a clean 13 cents/quarter that's 52 cents/year and puts us at PE of 9 right now with the $6.01 book value. undervalued still. most bank PEs are in the 12 to 14 range right now.
This is where the bulk for the quarter came from:
"This decrease was substantially offset by the recognition of the remaining interest rate mark-to-market adjustment on IRA deposits of $2.40 million during the first half of 2014."
In any event, the bottom line for the quarter looks good and as we go forward that's what people will focus on for a while.
Well, either somebody went home and forgot to click the Submit button, or they figure "after market close on Friday" can mean "any time prior to market open on Monday".
I previously mentioned my thoughts, yesterday I saw my vision on the shelf at Walgreens.
Go and google for AllergEase.
There it is - the solution to our problem.
Yes, I saw that - I'm suspecting they may post a small loss for the quarter...probably will take some one time charges for closing the two branch locations and probably some for acquisition and beginning of Slavie integration.
I see it - Freestone.
Any idea why they would sell 10,000 shares taking the price they did? They sell 10,000 shares of 1.2 million at a price lower than what they paid for them and knowing they are selling into an illiquid market for the shares, and on a day when most all small caps are getting hammered. Just doesn't make much sense to me.
as interest rates rise, that 7.4% won't matter. last time around it was 10% and 15% as things fell apart. look for the same this time. you can figure what the share price will be to yield 10% or 15% with the current dividend.
as far as what could be done, to start with, Ivan and the rest of management can take a cut in their salaries/packages. their combined base salaries are over $7.5 million - that is way too much for what they do and as a percentage of profits. Ivan alone takes $3 million/year - pathetic!
Shares currently trading well below book value.
Yesterday I watched as the market maker walked the price down on 100 share trades.
I'm buying more, but slowly as there's no telling how irrational things can get.
On a side note, there was an 8K filing last night which included naming Joe Thomas as Executive Chairman. One of his roles in the position is to "Build investor relations function and direct BYBK relationship with all shareholders". The following is the full list of his responsibilities in the position:
· Chair efficient board meeting and ensure timely distribution of board materials
· Set strategic direction with board and management
· Lead the board efforts to oversee and evaluate management
· Lead corporate development, M&A, and non-bank business line expansion
· Build investor relations function and direct BYBK relationship with all shareholders
· Coordinate capital raising for the company when strategic opportunities arise
· Serve as primary holding company interface with Federal Reserve Bank
· Facilitate services with H Bancorp and its subsidiary banks
· Monitor and report on status and activities of H Bancorp and its subsidiaries
· Recommend talent development and enterprise risk management initiatives
· Insure that the holding company and bank comply with all applicable laws and regulations
Arbor Realty Trust, Inc. Announces Pricing of Public Offering of 7.375% Senior Notes Due 2021
Deutsche Bank Securities Inc., Keefe, Bruyette & Woods, Inc. and MLV & Co. LLC are serving as joint book-running managers for the offering.
What a joke!
What did I say?
It is really amazing the level of transparency of the corruption that goes on. Initiate coverage, give a buy rating, give an upgrade...and we'll give you our business.
Way to go Ivan!
Stay away from this smelly garbage.
"Deutsche Bank Securities Inc., Keefe, Bruyette & Woods, Inc. and MLV & Co. LLC are serving as joint book-running managers for the offering."
Executed better than expected for the quarter. Decent outlook. Next quarter has losses lower than current estimate. CEO is very strong and has the right plan for moving forward.
This is a turnaround play - it's expected that there would be a few soft quarters. The company is doing what's necessary to return to long-term growth/profitability.
Book to bill 1.26
The way to play these is by buying slowly on the way down - don't shoot your wad all at once or you will be extremely disappointed if you don't catch the absolute bottom.
"If we double 6 month revenues we'll have about $61 million for the year, 2% to 3% would be operating loss of about $1.5 million and currently we are at a loss of $2.4 million..."
As indicated on the call, back half is expected to be about $40 million revenues and about $70 million total for the year. So, 2% to 3% is a loss of about $1.75 million - again, there will be profitability the remainder of the year. As also indicated, this is the conservative view. They are successfully diversifying into commercial areas to compensate for decline in government business. When government business comes, it will be icing on the cake.
they are doing fine. read the announcement closely.
"As a result of the revised outlook for revenue, management now expects a slight operating loss for the year in the range of 2 -- 3% of sales."
If we double 6 month revenues we'll have about $61 million for the year, 2% to 3% would be operating loss of about $1.5 million and currently we are at a loss of $2.4 million - implication is that for the remainder of the year we'll see an operating profit of about $1 million. This is important - as also indicated in the announcement, margins are improving and outlook is better. Sales of new products are slowly rising, and eventually government sales will come back - when they do, the company will be solidly profitable.
Yes, it is difficult playing the waiting game, however, overall operationally things are getting much better as we move forward. The balance sheet is still solid and improving.