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Colonial Bancgroup, Inc. (the) (CNB) [hlAlert]

Rating:
Sell CNB
down 15.20 %

Colonial Bancgroup, Inc. (CNB) downgraded to Sell with price target $6 by Sterne Agee

Posted on: Tuesday,  Sep 9, 2008  9:25 AM ET by Sterne Agee

Sterne Agee rated Sell Colonial Bancgroup, Inc. (NYSE: CNB) on 09/09/2008. Previously Sterne Agee rated Buy Colonial Bancgroup, Inc. (NYSE: CNB)
on 04/21/2008., when the stock price was $8.68. Since then, Colonial Bancgroup, Inc. has lost 15.21% as of 09/09/2008's recent price of $7.36.
If you would have followed the previous Sterne Agee's recommendation on CNB, you would have lost 15.2% of your investment in 141 days.

The Colonial BancGroup, Inc. (BancGroup) is a financial services company that, through its subsidiaries, provides diversified services, including retail and commercial banking, wealth management services, mortgage banking and insurance. The principal activity of the BancGroup is to supervise and coordinate the business of its subsidiaries, and to provide them with capital and services. The BancGroup derives substantially all of its income from dividends received from Colonial Bank, N.A (Colonial Bank) its banking subsidiary. The BancGroup’s subsidiary Colonial Brokerage, Inc. provides full service, and discount brokerage services and investment advice. The BancGroup has interests in several residential and commercial real estate developments located in the southeastern United States, as well as two in the central Texas area. On December 3, 2007, the Company completed the acquisition of Citrus & Chemical Bancorporation, Inc. (C&C) and its subsidiary Citrus & Chemical Bank.

For more than a century, Sterne Agee has worked in the belief that succeed only when our clients thrive. For a brokerage firm to survive for more than 100 years is hard enough. One can only thrive that long, though, by ensuring that your clients thrive first. Sterne Agee is one of the oldest and largest privately held brokerage firms left in the industry. Sterne Agee is a member of the New York Stock Exchange, and a registered Broker Dealer. Sterne Agee offers clients all the advantages of a full-service firm, yet retain the flexibility and personal attention that are rarely found in the huge names. Sterne Agee's expertise includes retail and institutional brokerage; investment banking and underwriting; secondary trading of corporate, municipal, and government securities; and market making in over-the-counter stocks.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
9/9/2008 9:25 AM Sell
None
7.36 6.00
as of 12/24/2008
1 Week up  14.28 %
1 Month up  19.58 %
3 Months up  52.43 %
1 YTD up  74.20 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
4/21/2008 2:25 PM Buy
None
8.68 11.00

(*) Stock Price at the time of the recommendation.
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