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August's 5 Best-Performing Big Bank Stocks

NEW YORK ( TheStreet) -- After decent performance in July when the great majority of stocks among the 50 largest public U.S. bank and thrift holding companies (by total assets) showed gains, August was a return to misery for the banking sector, with 49 out of 50 declining.

Here are the five best stock performers among the group during August:

Company Profile

Hudson City Bancorp (HCBK) is headquartered in Paramus, N.J. and operates over 130 branches in New Jersey, New York and Connecticut. Shares declined 6% during August to close-out the month at $11.53.

Hudson City has received wide coverage as a strong performer through the credit crisis and because it is among a select group of healthy banks paying high dividends that are well-supported by earnings.

Based on a quarterly payout of 15 cents a share, the dividend yield was 5.20% as of Tuesday's market close.

Income Statement

Hudson City earned $142.6 million during the first quarter or 29 cents a share, compared to $148.9 million, or 30 cents a share, in the first quarter and $127.9 million, or 26 cents a share, a year earlier.

Balance Sheet

Hudson City Bancorp had $61 billion in total assets as of June 30 and was heavily concentrated in mortgage loans. Nonperforming assets at main subsidiary comprised 1.25% of total assets and loan charge-offs have been minimal through the credit crisis.

Stock Ratios

The shares are trading for just 1.1 times tangible book value. The ratio of price to the consensus earnings estimate for 2010 is 10.2 and the P/E based on the 2011 earnings projection is 10, dropping to a very low 8.9 when based on the 2012 consensus earnings estimate.

Analyst Ratings

Out of 16 analysts covering Hudson City Bancorp, five recommend buying the shares, nine have hold ratings and two recommend dumping the shares.
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HCBK $0.00 0.00%
BK $40.24 -0.57%
NTRS $71.08 -0.74%
MTB $118.30 -0.71%
TD $44.50 0.46%


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