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$5.45 -0.05 (-0.91%)
10/10/2008 4:06 PM

BankAtlantic Bancorp, Inc. (BBX)

CAPS Rating:
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A Florida-based financial services holding company and owns BankAtlantic and its subsidiaries. BankAtlantic provides a full line of products and services encompassing consumer and commercial banking.

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Avatar matthewfastred (< 20) Submitted: 10/28/07 12:47 AM : Outperform Start Price: $23.38 BBX Score: -54.03

Look for a turn around in 08, also the potential to be a take over target at this price.

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Avatar joeykid13 (96.65) Submitted: 11/03/07 12:25 PM

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I want to reiterate My Buy for BBX, although I missed the low target. All of the bad news for BBX is out of the barn, and it is suffering from the market jitters over subprime, Merrill & Citigroup. William Prince at Citi will be fired this weekend, and most financials should rebound. The book value of BBX is $8.60/Share, but I would look for a target sell at $7.25, or a takeover target at $9.75. BBX owns 16% of "SF" Stifel Financial, so this is part of a very complicated ownership structure, additionally, Controlling interest in BBX is held by "BFF", so you have to watch very closely all three stocks. In other words, if you own BFF, you also own BBX at a discount., and if you own BBX, you also own SF. The purchased residential loan portfolio of BBX has an average FICO score of 741, and their consumer loan portfolio has an average beacon score of 705, so I believe BBX is in better shape than most regional S&L's, and a real value under $5.00.

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