UCBH Update

Discussion in 'Stocks' started by piezoe, Jul 28, 2008.

  1. piezoe


    Earnings in the second quarter increased from 0.02/shr in Qtr 1 to 0.07/shr. Their diversification into China is beginning to pay off and help mollify problems in some regions of US operation.

    Price should stall here in the 4-5 area as the preferred converts at 4.20/shr. Their China partner bank, Minseng, is expected to complete a 9% or so ownership by end of 4th quarter.

    Congratulations to all those who bought below 4 as you are sitting on a nice profit now.

    If the stock drops under 4 again it will again be a buy for short term traders. It is still a buy for investors, and was recently upgraded to a buy. Excellent long term prospects IMO for this aggressive and unusual mis-characterized US bank.

    See also www.elitetrader.com/vb/showthread.php?s=&postid=1959492#post1959492
  2. hughb


    I missed this one, even though I had been keeping an eye on banks. it was so far below it's 52 week high that I didn't pay any attention to it. I'm usually pretty good at catching stocks rising with an increase in volume, but I missed it that way too. Good eye on this one. You're buying the beer.