Hudson City Bancorp, Inc. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Hudson City Bancorp, Inc. (NASDAQ:HCBK) will unveil its latest earnings on Monday, July 18, 2011. Hudson City Bancorp, Inc. is a holding company for Hudson City Savings Bank which is a retail savings bank offering traditional deposit products, consumer loans and residential real estate mortgage loans.

Hudson City Bancorp, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 18 cents per share, a decline of 37.9% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 20 cents. Between one and three months ago, the average estimate moved down and dropped from 19 cents during the last month. For the year, analysts are projecting net loss of 58 cents per share, a swing from net income of $1.09 last year.

Past Earnings Performance: The company is looking to top estimates for the third straight quarter. Last quarter, it reported a loss of $1.13 per share against a mean estimate of net loss of $1.14, and the quarter before, the company exceeded forecasts by 3 cents with profit of 25 cents versus a mean estimate of net income of 22 cents.

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Wall St. Revenue Expectations: On average, analysts predict $253.4 million in revenue this quarter, a decline of 20.2% from the year ago quarter. Analysts are forecasting total revenue of $1 billion for the year, a decline of 16% from last year’s revenue of $1.19 billion.

Analyst Ratings: Analysts seem relatively indifferent about Hudson City Bancorp with 15 of 16 analysts surveyed maintaining a hold rating.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 5.9% to $722.7 million in first quarter. The figure fell 5.7% in the fourth quarter of the last fiscal year from the year earlier, dropped 3.2% in third quarter of the last fiscal year from the year-ago quarter and 0.5% in the second quarter of the last fiscal year.

Hudson City Bancorp’s loss in the latest quarter follows profits in the previous three quarters. The company reported a loss of of $555.7 million in the first quarter, a profit of $121.2 million in the fourth quarter of the last fiscal year, a profit of $124.6 million in the third of the last fiscal year and a profit of $142.6 million in the second quarter of the last fiscal year.

Competitors to Watch: New York Community Bancorp, Inc. (NYSE:NYB), Kearny Financial Corp. (NASDAQ:KRNY), OceanFirst Financial Corp. (NASDAQ:OCFC), Ocean Shore Holding Co. (NASDAQ:OSHC), Northwest Bancshares, Inc. (NASDAQ:NWBI), Provident New York Bancorp (NASDAQ:PBNY), Oritani Financial Corp. (NASDAQ:ORIT), Magyar Bancorp, Inc. (NASDAQ:MGYR), Roma Financial Corp. (NASDAQ:ROMA), Citigroup (NYSE:C), Bank of America Corp. (NYSE:BAC), JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC), Morgan Stanley (NYSE:MS), Barclays PLC (NYSE:BCS), Goldman Sachs Group, Inc. (NYSE:GS), U.S. Bancorp (NYSE:USB), UBS AG (NYSE:UBS), Deutsche Bank AG (NYSE:DB), and Royal Bank of Scotland Group plc (NYSE:RBS).

Stock Price Performance: During April 14, 2011 to July 12, 2011, the stock price had fallen $1.41 (-14.7%) from $9.61 to $8.20. The stock price saw one of its best stretches over the last year between August 5, 2010, and August 13, 2010, when shares rose for seven-straight days, rising 6.6% (+74 cents) over that span. Shares have been on a negative streak of late, closing down every day between July 11, 2011 and July 12, 2011. Shares are down $4.26 (-34.2%) year to date.

(Source: Xignite Financials)

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