Hudson City Bancorp, Inc.
) reached a new 52-week high of $10.15 on Jun 9. The stock closed
the session at $10.14, reflecting a solid return of 22.5% over the
past \year. The trading volume for the session was 2,643,208
The company has delivered positive earnings surprises in the
trailing four quarters, with an average beat of 28.6%.
Impressive first-quarter 2014 results, including improving credit
metrics, strong capital ratios and zero provision for loan losses,
primarily drove the stock price.
Hudson City reported first-quarter earnings of 9 cents per share on
Apr 29, beating the Zacks Consensus Estimate by 28.6%. The bottom
line was however lower than 10 cents earned in the prior-year
Higher non-interest income and lower expenses aided the bottom
line, which was, however, partially offset by a decline in the
total interest and dividend income. The quarter witnessed no
provision for loan losses versus $20.0 million in the year-ago
quarter. Capital ratios improved due to an uptrend in the ratios of
Tier 1 leverage capital, total risk-based capital and equity to
total assets, in comparison with the prior-year quarter.
Estimate Revisions Show Mixed Results
Over the last 60 days, the Zacks Consensus Estimate for 2014 has
inched up 3.7% to 28 cents per share. However, for 2015, the
estimate fell around 12.5% to 28 cents per share over the same time
Hudson City currently holds a Zacks Rank #3 (Hold). Some
better-ranked savings and loan institutions include
Cape Bancorp, Inc.
). While Anchor Bancorp sports a Zacks Rank #1 (Strong Buy),
BankFinancial Corp and Cape Bancorp hold a Zacks Rank #2 (Buy).
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