1. Astoria Financial
Shares of Lake Success, New York-based Astoria Financial (AF) are off by 2% in 2012 and have shed 44% on a one-year basis.
The bank missed expectations in the fourth quarter, reporting a net income of $11.8 million, or 12 cents per share, a 50% decline from a profit of $23.8 million, or 25 cents per share, last year.Analysts on average had expected the company to earn 14 cents a share, according to Thomson Reuters. The company said it will freeze salaries for its executive officers to put a lid on expenses and is reviewing staffing and compensation plans. The company said it expects multi-family/CRE loan originations of about $1.5 billion and residential loan originations for portfolio of about $3.5 billion in 2012, which will be reflected in loan growth in the first quarter. "These actions will help, but the prolonged low-rate environment is a significant challenge," FBR Capital analyst Bob Ramsey said in a report. Ramsey has a market perform rating on the stock and a price target of $9. Two analysts rate the stock a buy, while 10 have a hold rating and 5 analysts rate the stock a sell. The consensus price target is $8.74. Shares closed at$8.22 on Tuesday. >>To see these stocks in action, visit the 5 Bank Stocks Analysts Say You Should Sell Now portfolio on Stockpickr. --Written by Shanthi Bharatwaj in New York
>To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: firstname.lastname@example.org.
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 + 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