Sonny Naderi

Allied Irish Banks: With 9% Dividend, This Bank Could Thrive

This is a really hot stock right now. Trading at $4.69 (todays close) is close to an all time low. The institution has a great efficiency ratio, very littly long term and short term debt, its deleveraging its bad assets, and just recieved a 2 billion euro bailout in an effort to keep the Irish financial institutions afloat until this recession of theirs ends.

Looking at some of the techinicals, we can see the RSI and %R showing a massive overselling of the stock, and shorting has decreased significantly in the past month.

Anglo could bring all this positive news to a halt if they go under, but I see a slow recovery from them as well. Call me an optimist, but I think you should see the stock price of AIB double by the end of 09