Jefferies Starts First Niagara Financial (FNFG) at Buy
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Price: $10.18 --0%
Rating Summary:
5 Buy, 12 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
5 Buy, 12 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Jefferies initiates coverage on First Niagara Financial (NASDAQ: FNFG) with a Buy. PT $10.00.
The firm comments, "We like upside/downside dynamics given compelling valuation metrics (8.5x 2012 EPS), attractive dividend yield (3.8%) and an unmatched pro forma tangible ROE profile in 2012 (~19%). While the 30% drop in capital ratios/tangible book value from HSBC deal is disappointing and limits capital return, it also keeps the company out of the M&A marketplace, which has been the biggest weight on the stock."
For an analyst ratings summary and ratings history on First Niagara Financial click here. For more ratings news on First Niagara Financial click here.
Shares of First Niagara Financial closed at $8.46 yesterday.
The firm comments, "We like upside/downside dynamics given compelling valuation metrics (8.5x 2012 EPS), attractive dividend yield (3.8%) and an unmatched pro forma tangible ROE profile in 2012 (~19%). While the 30% drop in capital ratios/tangible book value from HSBC deal is disappointing and limits capital return, it also keeps the company out of the M&A marketplace, which has been the biggest weight on the stock."
For an analyst ratings summary and ratings history on First Niagara Financial click here. For more ratings news on First Niagara Financial click here.
Shares of First Niagara Financial closed at $8.46 yesterday.
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