Hudson City Bancorp, Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Hudson City Bancorp, Inc. (NASDAQ:HCBK) will unveil its latest earnings on Monday, October 17, 2011. Hudson City Bancorp 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 19 cents per share, a decline of 24% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting net loss of 57 cents per share versus net income of $1.09 last year.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked profit of 19 cents per share versus a mean estimate of net income of 18 cents per share.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 9.2% in revenue from the year-earlier quarter to $263.7 million.

Analyst Ratings: Analysts seem relatively indifferent about Hudson City Bancorp with 13 of 14 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit fell 32.7% to $96 million (19 cents a share) from $142.6 million (29 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 26% to $555.5 million from $750.8 million.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 5.9% in the first quarter from the year earlier, dropped 5.7% in fourth quarter of the last fiscal year from the year-ago quarter and 3.2% in the third 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 July 18, 2011 to October 11, 2011, the stock price had fallen $2.01 (-25.3%) from $7.94 to $5.93. The stock price saw one of its best stretches over the last year between January 28, 2011 and February 8, 2011 when shares rose for eight-straight days, rising 4.1% (+43 cents) over that span. It saw one of its worst periods between July 28, 2011 and August 8, 2011 when shares fell for eight-straight days, falling 19.3% (-$1.58) over that span. Shares are down $6.40 (-51.9%) year to date.

(Source: Xignite Financials)

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