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People's United Financial Inc. Message Board

thriftmannj 10 posts  |  Last Activity: Nov 14, 2014 9:14 AM Member since: Jan 6, 2004
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  • It appears that now a deal is in the works to sell First Niagara. Most likely for around $8 a share. While this is a great price for a stock that is probably worth only around $3-5 a share, it does seem unfair to shareholders who purchased at a higher price. There are many shareholders who bought the newly issued shares at $8.50 and even more that are still holding from higher prices. It is going to be a loss for them. While not as much of a loss as if the stock continued to drop, at least without the sale, a shareholder could have decided when or whether to sell for a loss or to wait it out for a long term gain. Now they are being handed a capital loss that is out of their control. Management may be congratulating themselves for getting $8 for a stock that was just trading for $7, but this stock traded for $14+ not so long ago. With change of control agreements and restricted shares received at $0 per share kicking in with a buyout, executives will be doing very well for themselves. Not so well for the vast majority or shareholders though.

  • thriftmannj by thriftmannj Nov 9, 2014 8:58 PM Flag

    Several brokerages have added First Niagara to their list of non-marginable securities. For all of you cheerleaders- that is not a good thing.

  • thriftmannj by thriftmannj Oct 28, 2014 1:46 PM Flag

    I heard that the board of directors discussed breaking up the bank into 4 separate banks and selling off the parts. The divided entities would be Western Pennsylvania, Eastern Pennsylvania, Upstate New York, and Connecticut+ Mass + Eastern New York. The distances between branches have caused the "synergies" to not work to the benefit of the bank as intended. Breaking up the network and selling off the parts would probably be beneficial to the shareholders and would make sense in light of the failure of the combined entity to realize any benefit.

  • Reply to

    thriftmann-mr short!

    by matsky5 Oct 26, 2014 3:09 PM
    thriftmannj thriftmannj Oct 28, 2014 9:15 AM Flag

    You figured me out. The stock lost 20% of its value in a couple days because I spread rumors about an impairment charge of 800 mil. and another undisclosed missing 45 mil. It didn't really happen and billions of dollars were lost by the sinking stock were only caused by my little posts here on this Yahoo message board.
    Maybe I should be saying "FNFG is a great stock and pays a great dividend" I am sure you would find that to be more acceptable and the stock would skyrocket. So you just keep collecting your dividend and watch your principal disappear.
    Incidentally, read the message I posted before the news came out.

    Sentiment: Strong Sell

  • Just wait until you see what the FDIC is going to do. The $45,000,000 involves a whistle blower complaint made by an employee who was fired after many years with the company. Putting the money back is not going to be good enough. Penalties will follow. Wrongful termination lawsuits are also on the horizon.

    Sentiment: Strong Sell

  • thriftmannj by thriftmannj Oct 24, 2014 9:05 AM Flag

    Someone shut the lights and lock the doors on your way out.

  • thriftmannj thriftmannj Oct 23, 2014 8:31 AM Flag

    The stock is hovering around multi year lows, and is trending only lower. No takeover possible AT ALL, because this bank is a LIABILITY, not an ASSET. There is no way buying it could possibly benefit any other bank. Not at any price.

  • Reply to

    Divi

    by ceoeagle Oct 17, 2014 11:42 AM
    thriftmannj thriftmannj Oct 21, 2014 9:22 AM Flag

    You obviously do not know the difference between book value and TANGIBLE book value. I suggest you learn it before investing any more money in banks.

  • Reply to

    Divi

    by ceoeagle Oct 17, 2014 11:42 AM
    thriftmannj thriftmannj Oct 17, 2014 2:43 PM Flag

    Dow up 300 points, PBCT down 2%+ . They declared a 16 1/2 cent dividend, and you lost 35 cents in principal. Nearly every other stock is up. It makes ZERO sense to be in this stock for the dividend. Unless you are shorting it, it is not a wise investment. This bank is not worth a penny more than Tangible Book value. No prospects for increased earnings ever and no prayer of a takeover. Only increasing executive pay and expense and increasing loan losses. $8.50 a share is all it is worth. That is why PBCT is one of the most heavily shorted stocks.

    Sentiment: Strong Sell

  • Reply to

    $400MM bond offering-but who cares?

    by serpentine290 Jun 29, 2014 6:13 AM
    thriftmannj thriftmannj Jun 29, 2014 2:47 PM Flag

    They borrowed the money so they can continue to do buybacks. They previously had run out of money, so there was no way to prop up the stock. This allows them to continue on their course, which is the only course that they know how to follow.

PBCT
14.88-0.02(-0.13%)Nov 26 4:00 PMEST

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