SA News • Wed, Nov. 5
Clifton Bancorp Unattractive Even After Its Second-Step Conversion
- CSBK has averaged a ROE of 3.03% over the last nine years; mainly the result of tight net interest margins that won’t be cured easily after its second-step conversion.
- A clean, overcapitalized, vanilla balance sheet provides opportunities for management to take on additional risk, but returns will likely be underwhelming.
- CSBK is restricted from making any buybacks for one year after its conversion and can’t be sold for three years; limiting potential return scenarios for investors.
There are no Transcripts on CSBK.
Wed, Nov. 5, 6:04 PM
Mon, Nov. 3, 8:12 AM
Wed, Aug. 6, 7:41 PM
Fri, May. 16, 11:52 AM
- JMP Securities starts Axis Capital Holdings (AXS +0.6%) at Outperform with $53 price target.
- Wunderlich initiates City Office REIT (CIO +0.1%) with a Buy and $16 PT.
- Sandler o’Neil starts Clifton Bancorp (CSBK +0.1%) coverage with a Buy and $13.50 PT.
- Stern Agee initiates coverage on Independent Bank Group (IBTX +1.1%) with a Buy and $56 PT.
Thu, Mar. 20, 1:09 PM
Thu, Mar. 13, 7:57 AM
- 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.
Nov. 6, 2013, 12:10 PM| Comment!
Jul. 31, 2013, 3:06 PM| Comment!
May. 2, 2013, 2:53 PM
Dec. 5, 2012, 4:40 PM
Nov. 5, 2012, 6:29 PM
CSBK vs. ETF Alternatives
Clifton Bancorp Inc, formerly Clifton Savings Bancorp, Inc., is a bank holding company. It operates as a community-oriented financial institution offering traditional financial services to consumers and businesses in its market area.
Other News & PR