Boston Private Bank & Trust (BPFH) ($11.10 vs. $9.72 in Dec. 2008) set a multi-year high at $11.49 on July 18 and traded as low as $2.07 in February 2009. Today the bank's exposure to C&D loans is down to just 25.5%, with a healthy 66.7% CRE loan to loan-commitment pipeline ratio. To accomplish this, the bank reduced assets to $6.01 billion from $6.89 billion.
The stock slumped on Tuesday after announcing that an affiliate of The Carlyle Group agreed to sell 3,831,022 shares of stock in an at-the-market offering. The bank reported quarterly results on July 17 and missed EPS estimates by 1 cent, earning 18 cents per share. My monthly value level is $10.17 with a semiannual risky level at $11.63.
Bank of the Cascades (CACB) ($6.53 vs. $8.85 in Dec. 2008) set a multi-year high at $7.18 on Feb. 5, 2013. In November 2011, this bank traded as low as $3.50. Today the bank's exposure to C&D loans is down to just 28.5%, with a healthy 58.1% CRE loan to loan-commitment pipeline ratio. To accomplish this, the bank reduced assets to $1.33 billion from $2.44 billion.
The bank reports its quarterly results on August 13 and is expected to earn 8 cents a share. My annual value level is $5.59 with a weekly pivot at $6.35 and a monthly risky level at $7.29.
At the time of publication the author held no positions in any of the stocks mentioned. Follow @Suttmeier This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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