Entries tagged "BankAtlantic"
A year after analyst Richard Bove identified 24 troubled banks, he may be vindicated by the facts that seven of the 24 have failed, and 15 of the remaining have watched their share prices decline.
Boutique investment bank Ladenburg Thalmann finally finds a replacement for banking analyst Richard Bove, who left after a dispute with the firm.
When Florida's BankAtlantic Bancorp sued analyst Richard Bove for defamation a few weeks back, it scored a bit of a PR coup. Though the suit didn't seem to have any real merit, it provided BankAtlantic with an avalanche of media coverage through which it could publicly dispute its inclusion on Bove's now infamous list of possible bank failures. But the downside of the bank's communications strategy became evident earlier this week when it posted its fourth consecutive quarterly loss and announced plans to raise some $55 million in capital. The headline on one story on the news: "Bank that's...
The success of some Wall Street analysts has long been measured by how much press they can garner from their stock predictions. In the late '90s, analysts famously tried to outdo each other by making outlandish tech stock predictions that helped inflate the by-now notorious dot-com bubble. Recall Merrill Lynch & Co. Internet analyst Henry Blodget, who became a celebrity by predicting Amazon.com Inc. would reach $400 a share, and that other dot-com stocks would attain amazing heights? For a time, it seemed like Blodget might be right. But, as an investigation pursued by then-New York State Attorney General...
