Log on |  Join ($$)
BankInvestor.com Home BankInvestor.com HomeBankInvestor.com Home
Community IPO Research Stock Quotes BDCinvestor.com ValueForum.com
search discussion:      

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

Strong Buy 
0 members
0 members
1 members
0 members
Strong Sell 
0 members
Average rating: 3.00 (Strong Buy) 1.00 - 5.00 (Strong Sell) Total: 1 members

Annual growth of KFED:

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

Apr. 24 2008, 6:56 PM ET
Nearest price: 11.46 (04/24/08)
by martinroad (profile)
(all of martinroad's ratings)
(Previous rating: Strong Buy,
on Jun. 18 2007, 4:44 PM ET)
As all of the MHC's have sold off recently, I think KFED ($15.65 closing price today) has been oversold. Currently, KFED, located in California (mostly southern), has $800 million in assets and 10.9% tangible equity/assets. If one assumes an eventual second step, the following are the valuations based on various offering price/book multiples in the second step offering:

100% of TBV = exchange ratio of 1.4, currently trading at 107% of fully converted book, would have 22% tangible equity/assets after offering.

110% of TBV = exchange ratio of 1.85, currently trading at 92% of fully converted book, would have 25% tangible equity/assets after offering.

A bonus to owning KFED now, is that it most likely gets added to the Russell 2000 on the close on Friday, June 22, 2007 (based on my estimates of what market cap
s as of 5/31/07 are to be included in the Russell 2000). Therefore, there is going to be demand to buy about 300k shares+ of stock by the index funds.

Was this user's rating of 'KFED' helpful to you? Thumbs Up -- this Stock Rating was helpful Thumbs Down -- this Stock Rating was not helpful
 10 said yes (of 10 -- 100.00%)


 • Click here to add your rating to KFED!
 • More group stock ratings

Nothing in BankInvestor.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by Bankinvestor.com. ©2024 info@bankinvestor.com About Us Contact Us How To Privacy Policy Terms Of Use
 image www.bankinvestor.com is the premier online investment club with a focus on and after-market bank investing opportunities. Site content powered in part by stock ticker and financial content provider, TickerTech.com. Be sure to look at our sister site for stock market message boards, trading tips and research, ValueForum.com.