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TheStreet Open House

TheStreet Ratings Top 10 Rating Changes

Rating Change #2

First Niagara Financial Group Inc (FNFG) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Highlights from the ratings report include:

  • The revenue growth greatly exceeded the industry average of 3.0%. Since the same quarter one year prior, revenues rose by 37.1%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • The gross profit margin for FIRST NIAGARA FINANCIAL GRP is currently very high, coming in at 82.30%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 16.40% is above that of the industry average.
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and greatly outperformed compared to the Commercial Banks industry average. The net income increased by 27.5% when compared to the same quarter one year prior, rising from $45.86 million to $58.46 million.
  • Net operating cash flow has significantly increased by 60.23% to $92.64 million when compared to the same quarter last year. Despite an increase in cash flow, FIRST NIAGARA FINANCIAL GRP's cash flow growth rate is still lower than the industry average growth rate of 91.36%.
  • FIRST NIAGARA FINANCIAL GRP's earnings per share declined by 13.6% in the most recent quarter compared to the same quarter a year ago. The company has suffered a declining pattern of earnings per share over the past year. However, we anticipate this trend reversing over the coming year. During the past fiscal year, FIRST NIAGARA FINANCIAL GRP reported lower earnings of $0.65 versus $0.70 in the prior year. This year, the market expects an improvement in earnings ($0.95 versus $0.65).
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First Niagara Financial Group, Inc. operates as the holding company for First Niagara Bank, N.A. that provides retail and commercial banking, and other financial services to individuals, families, and businesses. The company has a P/E ratio of 14.9, above the average banking industry P/E ratio of 13.9 and below the S&P 500 P/E ratio of 17.7. First Niagara Financial Group has a market cap of $2.83 billion and is part of the financial sector and banking industry. Shares are up 15.9% year to date as of the close of trading on Friday.

You can view the full First Niagara Financial Group Ratings Report or get investment ideas from our investment research center.

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