I've owned it far too long.
I agree. The stock price doesn't reflect near term prospects such as the ResCap payment My outlook on stock price is closer to $15 per share.
My apologies for the statement regarding goodwill. There was a technical glitch and it should have been posted to the DM board.
Excluding the non cash adjustment of goodwill write-off the company would have posted a profit of 9 cents a share. Going forward this company should still have a positive cash flow.
"In MBIA Corp., we continue to wait the receipt of our first distribution from the ResCap estate, which should occur around the end of this year or early in 2014."
The 67 cent earnings beat S&P's estimate of 16 cents and it also beat First Call Consensus average earnings forecast of 3 cents for the 3rd qtr.
Is this a final settlement amount that Ally/ResCap will actually pay? Unless the judge approves it the dollar amount the 193 million doesn't mean anything.
According to Yahoo's Key statistics the price to book value value for MBI is 0.72. Ambac, which came out of bankruptcy this year, has a ratio of 3.21. This is amazing to me. I'd be curious for your thoughts for the huge difference between the two.
I've seen no statement and was curious if OFG has any exposure from investments in the municipal bonds.
A buyback is feasible, but it won't be any time soon because SAN still needs to hold on to cash reserves. The buyback will likely come when they stop issuing script as a cash dividend alternative.