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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

SFFS
Strong Buy 
 50.00%
6 members
Buy 
 33.33%
4 members
Hold 
 8.33%
1 members
Sell 
 0.00%
0 members
Strong Sell 
 8.33%
1 members
 
Average rating: 1.83 (Strong Buy) 1.00 - 5.00 (Strong Sell) Total: 12 members

Annual growth of SFFS:

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

Feb. 12 2004, 5:45 PM ET
Nearest price: 15.46 (02/12/04)		 by buyandhold (profile)
(all of buyandhold's ratings)		 rating:
Strong Buy		 (Previous rating: Strong Buy,
on Feb. 11 2004, 3:29 PM ET)
Recent emergence of PBCT as an incremental potential buyer two years out combined with two recent insider buys and the passing of SFFS' first anniversary as a full stock company provide a combination of catalysts for the next 24 months.



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Currently: 
  2 said yes (of 2 -- 100.00%)

 
Dec. 17 2003, 08:11 AM ET
Nearest price: 15.11 (12/17/03)		 by DocInABox (profile)
(all of DocInABox's ratings)		 rating:
Buy
[ Comments shared with private group only ]
 
Dec. 16 2003, 3:21 PM ET
Nearest price: 15.16 (12/16/03)		 by WestWFA (profile)
(all of WestWFA's ratings)		 rating:
Buy		 (Previous rating: Hold,
on Sep. 11 2003, 12:52 PM ET)
Dec 2003 - upon pull back, I will vote in favor of a small rebound rather than the begining of a major thrift correction. Looking for a $1 short term. Maybe we are getting some flip and roll behavior in PFS and Sound as people ready for New Haven.... but that is many weeks off.

Sept 2003 Update: Book it Danno. Yes, this will perform well over the next three years but most of near term move is done.

Sound outperformed my expectations YTD. I initially thought $12-13 six months, maybe $13-15 about 14 months out. Absent the wave of enthusiasm for all thrifts that would probably been about right.

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Sep. 28 2003, 9:20 PM ET
Nearest price: 15.19 (09/29/03)		 by thriftman (profile)
(all of thriftman's ratings)		 rating:
Strong Buy		 (Previous rating: Strong Buy,
on Jul. 28 2003, 9:22 PM ET)
Update (Sept. 27, 2003): No change in fundamentals, but improved pricing at $15.00 per share. Easy trade and long-term hold. See comments below.

Update (July 28, 2003): Starting to buyback shares - up to 4% to start. New branch open in Stamford, CT - 11th branch.

Update (July 26, 2003):
I expect that Sound will start to increase following recent TONE and PRTR increases. SFFS is starting to get in to new territory closing over $14.00 during last week. There have been some recent stock ratings and polls discussing take over value. As a well run retail branch franchise with $600MM in depositor accounts, strong loan portfolio, located in Westchester and Fairfield counties (two of the more affluent areas of the country), I would anticipate an eventual take out at 2.5 times tangible book. This represents $27-/share at today's tangible BV. Today, SFFS trades at about 1.30 times BV, or 1.45 times TBV. It has a dividend yield of only 1.4% and payout ratio of 30% ($.05 dividend annualized / $0.67 EPS/Share for 12 mos. ended 3/03. This is a clear double with time (24 - 36 months).

Company will increase with time (I'd expect in 2nd half of their fiscal year), and begin stock buybacks on 12 month anniversary. CFO gets it and did same for Middletown eventually sold. High caliber individual relative to peer group. I continue to hold shares for long-term. I've differentiated Update from Original post (which I think should be the practice for stock ratings, so one can see the consistency in thinking and realization of estimates and views).

Original Post at time of 2nd Step:
Company has outstanding branch locations in Westchester and Fairfield county. Each branch is profitable at this time (according to CFO) making for an outstanding acquisition target. CFO understands tools available (dividends, stock buybacks, etc.) to create shareholder value and was CFO of Middletown, which was acquired. Nine months before share repurchases begin.

Stock trading at fraction over tangible book value with potential to go to 135% of book value with their locations. With stock buybacks, seasoning of post-IPO stocks (call it technicals), slight increase in common dividend, deployment of reccently raised capita, and strong branch locations, SFFS should trade up to $16 to $18 in next 12 months. I expect a 5% rolling stock repurchase program over time. Over 2-3 years, strong downside protection given all the above, with upside potential to a
$25 to $30-/share. CEO is in mid-60s as is Board providing potential for sale in next 24-48 months, which would be additional upside.

Economy is doing fine in Westchester and residential mortgage originations still strong allowing them to deploy recently raised capital to improve profitability. No problems or inordinate amount of risk in loan portfolio (i.e., balance sheet is clean).

Risks are sector related: 1) The economy and residential real estate market in one of the most affluent parts of the country; 2) Multiples for entire sector contract; and 3) The U.S. experiences rising rates for technical reasons (funding of war efforts and deficit, lack of foreign investor confidence), while economy is stagnated.

I am a holder and wish I bought more at time of secondary.

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Aug. 12 2003, 3:37 PM ET
Nearest price: 15.35 (08/12/03)		 by poppy5 (profile)
(all of poppy5's ratings)		 rating:
Strong Buy		 (Previous rating: Buy,
on Jan. 6 2003, 7:49 PM ET)
Draw a Bull's Eye on this piggy in two and a half years.
In the center of the triange comprised of Manhattan,
Connecticut (New Haven) and Upstate NY (FNFG/TROY)
Hope for buyout to mid thirties !

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Jul. 29 2003, 12:31 PM ET
Nearest price: 14.85 (07/29/03)		 by persistent (profile)
(all of persistent's ratings)		 rating:
Buy
[ Comments shared with private group only ]
 
Apr. 14 2003, 08:27 AM ET
Nearest price: 13.50 (04/14/03)		 by niceguy (profile)
(all of niceguy's ratings)		 rating:
Strong Buy
[ No comment ]

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Apr. 11 2003, 9:54 PM ET
Nearest price: 13.40 (04/11/03)		 by doss2 (profile)
(all of doss2's ratings)		 rating:
Strong Buy		 (Previous rating: Strong Buy,
on Jan. 27 2003, 06:28 AM ET)
Location, location, location
Size big enough to attract buyers not large enough to be a big buyer
CEO at 68 makes a third big payday
NY comparables justify upward valuation

My above post was 1/27 and selling at 11.It's now $12.50 you should have bought 1/28 but the best is yet to be.

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Currently: 
  0 said yes (of 1 -- 0.00%)

 
Jan. 7 2003, 08:50 AM ET
Nearest price: 11.00 (01/07/03)		 by 1501 (profile)
(all of 1501's ratings)		 rating:
Hold
sffs will drift with the market. if you are jordan, get out sooner rather than later. if you have confidence that things are getting better (not sure why one would think this), stay with it for the long term where it will most likely be a takeover candidate. big plus is its location. big minus is that thrifts may have reached their high end valuation in the near term.

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Jan. 7 2003, 07:15 AM ET
Nearest price: 11.00 (01/07/03)		 by kodus (profile)
(all of kodus's ratings)		 rating:
Buy
High ROA & ROE. Likely merger candidate I think.

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Dec. 18 2002, 4:44 PM ET
Nearest price: 10.88 (12/18/02)		 by corvettekid (profile)
(all of corvettekid's ratings)		 rating:
Strong Sell
I don't like these SOB's...hey, give me credit for being honest. They
wouldn't let me open an account even though I am a short drive from their branches.

So this review and rating isn't based on fundies or fairness. It's a biased, emotional, rant against a bank I hold a grudge against.

Gotta love my honesty, right.

DROP DEAD, SFFS!!!

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Dec. 8 2002, 9:51 PM ET
Nearest price: 10.82 (12/09/02)		 by horn (profile)
(all of horn's ratings)		 rating:
Strong Buy
Excellent Location...good balance sheet.

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