Hudson City Bancorp and First Niagara Financial -- Strong Dividends That Could Be Poised to Grow
January 24 2012 - 8:20AM
Marketwired
Bank dividends are garnering significant attention from investors
this year. According to a recent report from The Wall Street
Journal, banks and thrifts increased or initiated more dividends in
2011 than in the previous two years combined. In all 123 banks and
thrifts raised or initiated dividends last year, a 36% increase
from 2010 and a 68% jump from last year, SNL Financial reports. The
Paragon Report examines investing opportunities in the Savings
& Loans industry and provides equity research on Hudson City
Bancorp, Inc. (NASDAQ: HCBK) and First Niagara Financial Group,
Inc. (NASDAQ: FNFG). Access to the full company reports can be
found at:
www.paragonreport.com/HCBK
www.paragonreport.com/FNFG
Second Curve Capital LLC's Thomas Brown recently told Bloomberg
that he expects several companies in the banking sector to boost
their dividends. "One of the key positives for banks in 2012, big
and small, will be significant increases in common-stock
dividends," Brown explains. Bloomberg reports that the Federal
Reserve has said it will approve dividend increases and other
capital distributions for banks that demonstrate sufficient
financial strength to operate under stressed markets.
The Paragon Report provides investors with an excellent first
step in their due diligence by providing daily trading ideas, and
consolidating the public information available on them. For more
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Presently Hudson City Bancorp pays an annual dividend of 32
cents for a yield of around 4.5 percent. Hudson City Bancorp, Inc.
(Hudson City Bancorp) serves as the holding company of its
subsidiary, Hudson City Savings Bank (the Bank). The principal
asset of Hudson City Bancorp is its investment in the Bank. The
Bank is a federally chartered stock savings bank.
First Niagara Financial pays an annual dividend of 64 cents for
a hefty yield of around 6.6 percent. Last week the bank announced
that it has reached agreements with Community Bank System, Inc. and
Financial Institutions, Inc. subsidiary Five Star Bank to purchase
a total of 27 First Niagara and HSBC Bank USA, N.A. branches in
Upstate New York, $1.4 billion in deposits and $315 million in
loans.
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