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First Niagara Financial Group posts

Is First Niagara Headed to $20 and Beyond?

Posted Feb 18th 2011 2:00PM by Joseph Lazzaro (RSS feed)
Filed under: Stocks to Buy

Community bank First Niagara Financial Group's (FNFG) stock, which I first wrote about on April 27, 2009, at a price of $13.55, continues to progress this winter, with the stock rising about 10% to $15.

First Niagara's fundamentals remain strong, including a superior residential loan portfolio. Also, following the completion of its pending merger with NewAlliance Bancorp (NAL), subject to approvals, First Niagara will have more than $29 billion in assets, $18 billion in deposits, and 340 branches. The proposed merger also should create greater economies of scale and generate synergies that decrease expenses.

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Is Now a Good Time to Consider First Niagara?

Posted Dec 1st 2010 4:00PM by Joseph Lazzaro (RSS feed)
Filed under: Stocks to Buy

The shares of community bank First Niagara Financial Group (FNFG), which I first wrote about on April 27, 2009 at a price of $13.55, have recovered enough such that it makes sense to continue with the trade.

First Niagara's shares fell in bear-hug fashion this year, with the decline accelerated after the bank bought RTI Insurance Services and Three Rivers Financial Services of Pittsburgh; some selling was due to integration costs.

Still, FNFG's fundamentals remain strong, including a superior residential loan portfolio. Moreover, the stock appears to have bottomed at/near $11 and the recent rise above the key, 50-day moving average -- a bullish technical indicator -- provides further evidence that the short-term investment players are out of the stock.

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First Niagara: For Now, Stand Aside

Posted Aug 20th 2010 3:30PM by Joseph Lazzaro (RSS feed)
Filed under: Stock Picks

It's been a disappointing summer for the shares of community bank First Niagara Financial Group (FNFG), first discussed here on April 27, 2009 at a price of $13.55.

On Thursday, First Niagara agreed to acquire 88-branch NewAlliance Bancshares (NAL) for about $1.5 billion, in a deal expected to create a combined bank with more than $29 billion in assets.

Earlier in August, First Niagara bought RTI Insurance Services and Three Rivers Financial Services of Pittsburgh.

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Community Bank First Niagara: Still a Bargain?

Posted Apr 27th 2010 5:30PM by Joseph Lazzaro (RSS feed)
Filed under: Stocks to Buy

The shares of community bank First Niagara Financial Group (FNFG), which I first wrote about on April 27, 2009, at a price of $13.55, have meandered for the better part of a year, but I still like company at this juncture. Here's why:

First Niagara's value proposition remains the same: a community bank with few non-performing mortgages. Its residential loan portfolio, all in-house, is performing well. Also, in the first quarter of 2010, average commercial loan balances increased at a 15% annualized rate, on solid commercial business loan growth in Upstate New York and in Western Pennsylvania. FNFG now has $20 billion in assets, $14 billion in deposits, and 255 branches.

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First Niagara: A bank sector survivor

Posted Nov 10th 2009 3:40PM by Joseph Lazzaro (RSS feed)
Filed under: Stocks to Buy

One new rule of the post-financial crisis era is that bank 'bigness' does not reduce the risk of a bank stock investment. In fact, the opposite may be true, which is why I'm I'm reiterating my buy rating for First Niagara Financial Group (FNFG), first recommended on April 27, 2009, at a price of $13.55.

First Niagara's stock has continued to meander since the spring buy call, but the value proposition remains the same: a community bank with few non-performing mortgages. Its residential loan portfolio, all in-house, is performing well. FNFG posted Q3 earnings per share of 7 cents, compared to the First Call Q3 EPS estimate of 13 cents.

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First Niagara: A bank stock you can bank on

Posted Aug 24th 2009 4:40PM by Joseph Lazzaro (RSS feed)

Do a double-take, if you like, but I'm reiterating my Buy rating for a bank stock, First Niagara (NASDAQ: FNFG), first recommended on April 27, 2009 at a price of $13.55.

First Niagara's stock has meandered somewhat since the spring call, but the value proposition remains the same: a community bank with few non-performing mortgages. It's residential loan portfolio, all in-house, is performing well.

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