SOURCE: The Bedford Report

The Bedford Report

September 01, 2010 09:30 ET

Research Reports Issued on Hudson City (NASDAQ: HCBK) & Investors Bancorp (NASDAQ: ISBC) -- Savings & Loans Banks Seeing Recovery

Note to Editors: The Following Is an Investment Opinion Being Issued by The Bedford Report

TORONTO--(Marketwire - September 1, 2010) - The Bedford Report has commenced coverage on the Savings & Loans Industry and has issued Research Reports on Hudson City Bancorp Inc. (NASDAQ: HCBK) and Investors Bancorp Inc. (NASDAQ: ISBC). Access to the full company reports can be found at www.bedfordreport.com.

While results from banks that have large investment banking activities have not been stellar, the story for banks in the Savings & Loans industry has been much better. According to both Wells Fargo and US Bancorp, demand for certain loans has been increasing over the last quarter. Increased savings rates helped to increase average deposits at the banks as well. This is good news for the Savings & Loans Industry, with signs of recovery showing for their core business activities.

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On August 20, in the largest takeover of a US bank in the last 2 years, First Niagara Financial Group announced a takeover of NewAlliance Bancshares for $1.5 billion. This may be just the beginning of consolidation announcements as banks look to improve their positions.

Hudson City posted quarterly Earnings per Share of $0.29 on Revenue of $351 million. Analysts rate the company's stock as Hold at current valuation. Investors Bancorp posted quarterly Earnings per Share of $0.14 on Revenue of $69 million. Analysts rate the company's stock as Buy at current valuation.

Investors can get copies of the full analyst reports on Hudson City and Investors Bancorp by registering for free at www.bedfordreport.com.

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