The Case of an Odd Duck on the Erie Canal
Book value would soar from $667 per share to $745. Earnings would fly from $65 to $111 per share. The stock could plump up to $1,500 in the next few years. And the bank would still have over 10% capital to secure the nest. Wouldn't that be just ducky?
Disclosure: As of this posting, I own shares of both BKUT and BKUTK and may subsequently either dispose of them or purchase more.
The one-branch Bank of Utica may be an odd duck, but I'd bet any of these area banks would jump at the chance to line their own nests with its dominant market share — an impressive 24% in Oneida County and 55% in the City of Utica.
Berkshire Hills Bancorp, Pittsfield, MA (BHLB)
Community Bank System, Dewitt, NY (CBU)
M&T Bank, Buffalo, NY (MTB)
(as of 12/31/2013)
Tom Sinnott, President and CEO
Roger Sinnott, Chairman (deceased)
Brian Laughlin, Executive VP
Let me count the ways that the Bank of Utica is a bit of an odd duck in banking that calls all investors hunting for a value stock to pick it up: