Trio of savings banks initiated with Buys at Compass Point

Calling its $18B balance sheet "whistle-clean" and noting its coveted footprint serving Philadelphia through Long Island, analyst Laurie Hunsicker starts Investors Bancorp (ISBC) with a Buy and $31 price target. "The key to the investment thesis sits in understanding the Mutual Holding Company structure and the implications for existing and new shareholders as ISBC is currently undergoing a second-step IPO." She notes the stock trades at around tangible book value, a discount to peers.

Beneficial Mutual Bancorp (BNCL) and Clifton Savings Bancorp (CSBK) are started at Buy as well.

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Comments (1)
  • bigfish1977
    , contributor
    Comments (60) | Send Message
    These are some of the greatest values on the market. The MHC's have been completely ignored by the markets since the 2008 panic. If you take a look at the books of these small regional banks they are bulletproof. I wouldn't be surprised to see other MHC's rise as well. Its almost like free money.....if you know about them
    14 Mar 2014, 09:07 AM Reply Like
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