First Niagara Financial Group
Shares of First Niagara Financial Group (FNFG) of Buffalo, N.Y., closed at $8.58 Friday, returning 1% year-to-date, after falling 35% during 2011. Based on a quarterly payout of eight cents, the shares have a dividend yield of 3.73%.
The shares trade for 1.1 times tangible book value and for eight times the consensus 2013 EPS estimate of $1.03. The consensus 2012 EPS estimate is 89 cents.
First Niagara expects to complete its HSBC (HBC) branch acquisition on May 18, after which the company will double in size, with roughly 200 branches and 1,200 employees.Jefferies analyst Casey Haire's price target for First Niagara is $11.50. Harmon said on Monday that "overall, housing markets across FNFG's footprint
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