Today's Pre-Market Mover With Heavy Volume: Hudson City Bancorp (HCBK)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Hudson City Bancorp ( HCBK) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Hudson City Bancorp as such a stock due to the following factors:

  • HCBK has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $33.7 million.
  • HCBK traded 525,000 shares today in the pre-market hours as of 9:08 AM, representing 14.2% of its average daily volume.

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More details on HCBK:

Hudson City Bancorp, Inc. operates as the holding company of Hudson City Savings Bank that provides various banking products and services in the United States. The stock currently has a dividend yield of 1.8%. HCBK has a PE ratio of 24.8. Currently there are no analysts that rate Hudson City Bancorp a buy, 1 analyst rates it a sell, and 6 rate it a hold.

The average volume for Hudson City Bancorp has been 4.3 million shares per day over the past 30 days. Hudson City has a market cap of $4.8 billion and is part of the financial sector and banking industry. The stock has a beta of 1.42 and a short float of 5.8% with 8.29 days to cover. Shares are up 12.7% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Hudson City Bancorp as a hold. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and feeble growth in the company's earnings per share.

Highlights from the ratings report include:
  • Compared to where it was 12 months ago, the stock is up, but it has so far lagged the appreciation in the S&P 500. Despite the fact that it has already risen in the past year, there is currently no conclusive evidence that warrants the purchase or sale of this stock.
  • The revenue fell significantly faster than the industry average of 101.3%. Since the same quarter one year prior, revenues fell by 16.8%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Thrifts & Mortgage Finance industry. The net income has decreased by 23.6% when compared to the same quarter one year ago, dropping from $55.93 million to $42.73 million.
  • Net operating cash flow has decreased to $74.14 million or 40.10% when compared to the same quarter last year. In addition, when comparing to the industry average, the firm's growth rate is much lower.

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