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These ratings are posted by site users; this content is not intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by Bankinvestor.com

FNFG
Strong Buy 
 50.00%
4 members
Buy 
 50.00%
4 members
Hold 
 0.00%
0 members
Sell 
 0.00%
0 members
Strong Sell 
 0.00%
0 members
 
Average rating: 1.50 (Strong Buy) 1.00 - 5.00 (Strong Sell) Total: 8 members

Annual growth of FNFG:

NOTE: areas highlighted in blue indicate that this user is sharing the highlighted information with their private group ONLY

Feb. 9 2005, 4:03 PM ET
Nearest price: 13.36 (02/09/05)
by BEN (profile)
(all of BEN's ratings)
rating:
Strong Buy
(Previous rating: Buy,
on Sep. 15 2004, 08:54 AM ET)
Real estate values in its region have not gone to bubble levels. Second stage conversion is over 18 months in past. Position building could be performed while dividend % goes to 4%. Looking at the macro view of population movement out of the big cities, not very much bubble risk in real estate valuations in its region of growth, increasing chance of a good increase in the dividend, 1 year chart looks good for downside protection, risks have been taken in new round of offerings at approved higher valuations, very large liquidity, time to rate it a buy. Has had much time to age with a valuation that is lower then many other new second stage converts.

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Jan. 19 2004, 10:17 AM ET
Nearest price: 15.56 (01/20/04)
by cygnus (profile)
(all of cygnus's ratings)
rating:
Buy
Nice consolidation over the last 6 months. Technically speaking, the chart looks good. Strong bank, nice chart....rating a buy.

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Currently: 
 1 said yes (of 1 -- 100.00%)

 
May. 4 2003, 10:59 PM ET
Nearest price: 12.70 (05/05/03)
by persistent (profile)
(all of persistent's ratings)
rating:
Buy
Laurie Hunsicker from fbr selected fnfg and sffs and csbc as her chhoices for the snl dart board. She is leading the competition. She is my guru.

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May. 2 2003, 7:32 PM ET
Nearest price: 12.55 (05/02/03)
by thriftman (profile)
(all of thriftman's ratings)
rating:
Buy
I recently bought FNFG between $11.70 and $12.38 per share, and will add to that position if there is weakness over next couple of weeks. My view is that it came out high at 125-130% of tangible b.v. or 21x pe (same pe as PFS if my memory serves me correct) prior to the re-deployment of capital. Ryan fully priced deal as they did with HCBK, and HCBK has done great in after market trading. Since FNFG opened at $11-/share and change, SFFS has increased from $12 to $14, PFS has increased from $15.50 to over $17/share; WAYN has increased to over $13-/share, while FNFG has lagged. The market has improved and there has been the technical seasoning effect that ea. of these stocks have experienced.

I believe that long-term shareholder value will be created with highly respectable IRR (over 20% with little company downside risk - don't know what to say about equity market or sector risk). The $0.13 cash dividend should be raised with time, which clearly was Company's policy/strategy after initial conversion. 1Q 2000 quarterly was 6 cents (24 cent annual), which eventually increased to 11 cents (44 cent annual) by end of 2002.

FNFG is a $3B institution with $2.1B in depositor accounts and there just aren't that many thrift institutions with their equity float and scale. Western NY isn't a great place to be from a take-out perspective, but economy tends to not rise or fall as much (i.e., that part of the world is stable). The $20MM in allowance for LLs covers 1.7x the $11.7MM of non-accrual loans. Svgs accounts yielding 2.19% at 6/30/02, and I sure hope these guys have significantly lowered rates being paid. Even so with significant low cost checking and MMAs, cost of deposits was 2.5% 9 months ago and should be lower today.

CEO holds 718,478 shares or over 1% of Company, which should provide some motivation to get that stock price up with time. Usual combination of increasing cash dividends, stock repurchases, and earnings growth through re-deployment of capital to increase shareholder value. My 12 - 24 month target (unless sector multiples decline and not hearing a lot about sector risk at this time) is $18 to $22-/share. Target assumes that stock with further seasoning and increase in cash dividend from 1% to closer to 2% moves to 150% of tangible book value. Share repurchases to reduce shares outstanding and increase book value per share.

The above is simply my opinion for whatever it's worth, and my thought process as a recent buyer. Buyer beware and do your own research.

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Jan. 31 2003, 8:19 PM ET
Nearest price: 11.60 (01/31/03)
by convert (profile)
(all of convert's ratings)
rating:
Strong Buy
(Previous rating: Strong Buy,
on Jan. 23 2003, 08:36 AM ET)
the stock is moving up after 5cent dividend announcement. looks like a good one to keep. i bought at ipo and am holding.

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Jan. 22 2003, 8:21 PM ET
Nearest price: 11.06 (01/22/03)
by golfnut (profile)
(all of golfnut's ratings)
rating:
Strong Buy
(Previous rating: Strong Buy,
on Jan. 8 2003, 7:08 PM ET)
flippers are gone.stock will slowly rise.be patient.

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Jan. 7 2003, 6:02 PM ET
Nearest price: 10.44 (01/07/03)
by ralphw (profile)
(all of ralphw's ratings)
rating:
Buy
FNFG built a solid trading range in the 30-32 area for months after a beautiful uptrend move. This decline to the 27 area is due IMO to the second stage offering where hedge funds and others have shorted to lock in gains from the offering. When the smoke clears, I beoieve FNFG willmove back once again to the 30-32 area for a move to the 35-36 area in 9-12 months.

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Jan. 7 2003, 4:53 PM ET
Nearest price: 10.44 (01/07/03)
by samcarmat (profile)
(all of samcarmat's ratings)
rating:
Strong Buy
[ No comment ]

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