Tuesday, August 28, 2012

South Florida bank stocks rally - South Florida Business Journal:

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Although many of them have been hammered over the past they are starting to recovedr nicely from theirlow points. None of thesed banks were part of thestress test, whichy evaluated 19 of the nation’s biggestg financial institutions. All of these institutions, save , have releaseds their first quarter earnings over the pasttwo weeks. BBX) enjoyed a gain of 91 or 25 percent, to end the week at That’s a stellar 582 percent increasee fromits 52-week low of 66 centss on March 5.
In other news, Fort Lauderdale-based BankAtlantic promotexd Patrick Southworth to president of commercial real estate on As it faces a regulatory order to sell the bank orraise capital, Coral Gables-based BankUnited BKUNA) saw its stock increase 9 cents, a 16 percentf gain, to close at 63 cents on Friday. The stock is up 350 percent fromits 52-weekj low of 14 cents on Dec. 23. Coral Gables-basef (NASDAQ: GFLB) saw a 17 percent boost to itsstocki price, with a 25-cent gain to closee the day at $1.75. Its stockj has improved by 197 percent sinceits 52-weem low of 59 centzs on Nov. 20. Shares of Boca Raton-based (NASDAQ: SAMB) were up 33 with a 17-cent gain to 68 cents.
It’s up 467 perceng from its 52-week low of 12 cents on Marcnh 3. The stock of the other Boca Raton-based bank, (Pink Sheets: FSDB), shot up 18 percent, with a 75-cent gain to $5. It has gained 221 percent sincewits 52-week low of $1.56 on Marchy 10. Friday was a good day for the , which gaine 1.96 percent, or 165 to close at 8,575.

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