Markets

Hudson City Bancorp (HCBK) in Focus: Stock Tumbles 6.9% - Tale of the Tape

Hudson City Bancorp, Inc. ( HCBK ) saw a big move last session, as the company's shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. The stock gained 5.8% from Mar 11 to Apr 2, but then reversed the uptrend and slumped yesterday.

Yesterday, Federal Reserve Board further delayed the long awaited merger deal between M&T Bank and Hudson City Bancorp. As a result, the merger will now not close by the previously announced target closing date of May 1, 2015.

The bank holding company has seen a flat track record when it comes to current year estimate revisions over the past few weeks and the consensus for earnings hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

HCBK currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

A better-ranked stock in the same sector is Anchor Bancorp ( ANCB ), holding a Zacks Rank #2 (Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

HUDSON CITY BCP (HCBK): Free Stock Analysis Report

ANCHOR BANCORP (ANCB): Get Free Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    Zacks

    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

    Learn More