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Enter Symbol:
Rating: FNFG
Hold

First Niagara Financial Group Inc. (NASDAQ: FNFG) downgraded to Hold by Standpoint Research

Friday,  Nov 13, 2015  1:25 PM ET by Dave Ficere

Standpoint Research downgraded First Niagara Financial Group Inc. (NASDAQ: FNFG) to Hold.
Previously Standpoint Research rated Buy with price target $14 First Niagara Financial Group Inc. (NASDAQ: FNFG) on 03/26/2012, when the stock price was $9.92.

First Niagara Financial Group, Inc. provides a range of retail and commercial banking, as well as other financial services through its wholly owned savings bank subsidiary, First Niagara Bank (the Bank). First Niagara is a community bank in Upstate New York, providing its retail consumers and business customers with banking services, including residential and commercial real estate loans, commercial business loans and leases, consumer loans, wealth management products, as well as retail and commercial deposit products. It also employee benefit consulting services through a wholly-owned subsidiary of the Company. On February 15, 2008, the Company acquired Great Lakes Bancorp, Inc., the parent company of Greater Buffalo Savings Bank.

Standpoint Research provides independent equity research that is free from the conflicts of asset management, investment banking, proprietary trading, and fee-for-research arrangements. We provide thorough analysis, diagnostics and forecasts on domestic and international equities and markets backed by alpha-generating variables back-tested on many years of data. Standpoint Research currently advises and sells its research to pension funds, hedge funds and asset management firms. Wall Street analysts have an optimistic bias, while we are more objective. In fact some of the variables in our model that are looked at as positives by Wall Street actually carry negative weight in our model. We have a strict discipline that includes running our proprietary 155-variable valuation and diagnostics model with a personal and subjective overlay that has been proven to add value. The effectiveness is demonstrated through our impressive track record of recommendations.



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