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Author: blacktreechaser Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 8750  
Subject: Hudson Creek Bank, undervalued? Date: 2/1/2011 3:48 PM
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In lieu of lousy bonds yields, one of my buy-stock/sell-out-of-money-calls choices has been HCBK, I've owned it for about a year and a half. The last call options I sold on it expired in january.

One day about mid-january, HCBK went down about 25% with all the other banks. It has not come back up since. The new call option prices are very bad...i.e, the stock is around $10 plus change a share, and the $12.50 call option for january 2012 is 35 cents. Present dividend is 5% plus. Last quarter earnings were about 25 cents.

So I'm just wondering if anyone else has ever looked at this one, and if they think it was a case of throwing the baby out with the bath water and this is undervalued? Or if the shoes are going to start dropping this year? Thanx for reading.
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