I originally made this call back in October. The stocks has dropped by about a third since then. However, looking at the company, I love it even more. A much smarter man than me would've had you buying even more shares back in March when it dipped into the $7 to $8 range. Let me highlight just a few of things I like about this bank.
- Yield: 4.8%
- P/E: 12.53
- They have taken no TARP $
- EPS has grown in the last two quarters.
- Net interest spreads have widened.
Undoubtedly, there is more pain ahead for the banking industry. I suggest that you follow this stock closely and snap up shares on weakness. If it falls below $10 again, I'm going to go ape$hit buying the stock.
$18.73 (10/01/08)
