NewAlliance (NAL) Shares Up on Cramer Push, Strong Financials
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NewAlliance Bancshares (NYSE: NAL) shares are trading higher today in the late afternoon session. The stock is up 3.80% to $11.78.
NewAlliance was mentioned by Jim Cramer yesterday, as one of the FDIC's darlings. Cramer spoke with CEO Peyton Patterson, who mentioned that the bank had $400 - $500 million on the books to make acquisitions as they arise. She [Patterson] also noted how the bank worked hard to increase its core revenue stream 13%.
CNBC had a tidbit on the bank, saying that NewAlliance would probably pick up the next failing competitor in a "fire-sale," since the Connecticut-based bank has heavy capital reserves, few nonperforming loans, and a low delinquency rate.
It also doesn't hurt that the conservative bank has topped estimates for the past several quarters.
NewAlliance was mentioned by Jim Cramer yesterday, as one of the FDIC's darlings. Cramer spoke with CEO Peyton Patterson, who mentioned that the bank had $400 - $500 million on the books to make acquisitions as they arise. She [Patterson] also noted how the bank worked hard to increase its core revenue stream 13%.
CNBC had a tidbit on the bank, saying that NewAlliance would probably pick up the next failing competitor in a "fire-sale," since the Connecticut-based bank has heavy capital reserves, few nonperforming loans, and a low delinquency rate.
It also doesn't hurt that the conservative bank has topped estimates for the past several quarters.
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