Earnings in the second quarter increased from 0.02/shr in Qtr 1 to 0.07/shr. Their diversification into China is beginning to pay off and help mollify problems in some regions of US operation.
Price should stall here in the 4-5 area as the preferred converts at 4.20/shr. Their China partner bank, Minseng, is expected to complete a 9% or so ownership by end of 4th quarter.
Congratulations to all those who bought below 4 as you are sitting on a nice profit now.
If the stock drops under 4 again it will again be a buy for short term traders. It is still a buy for investors, and was recently upgraded to a buy. Excellent long term prospects IMO for this aggressive and unusual mis-characterized US bank.
See also www.elitetrader.com/vb/showthread.php?s=&postid=1959492#post1959492
Price should stall here in the 4-5 area as the preferred converts at 4.20/shr. Their China partner bank, Minseng, is expected to complete a 9% or so ownership by end of 4th quarter.
Congratulations to all those who bought below 4 as you are sitting on a nice profit now.
If the stock drops under 4 again it will again be a buy for short term traders. It is still a buy for investors, and was recently upgraded to a buy. Excellent long term prospects IMO for this aggressive and unusual mis-characterized US bank.
See also www.elitetrader.com/vb/showthread.php?s=&postid=1959492#post1959492