Chief Credit Officer Louis Gorman said the institution had been focused on building its commercial portfolio for many years, having "assembled a team of very experienced C&I lenders with solid skills and reputations." He said Westfield shied away from riskier loans, wasn't focusing on any particular industry, and that its largest credit was to a local college.
Westfield makes for another compelling investment, also selling for below book value and much less than its 52-week high of $10.55. It has by far the highest level of capital among our three picks, giving the company many options, including continued share buybacks, dividend increases and expansion through acquisitions. The stock has dropped 21% this year.
-- Written by Philip van Doorn in Jupiter, Fla.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV