RE:CEO and Chair Are Out ... Pretty clear what it means. After another 3 years of "Strategic" turnaround, performance is still poor with low growth, poor efficiency ratio, poor return on capital and a middling set of capital ratios. Place operates so poorly no one wanted to buy the Bank as a going conern, for a reasonable price. At best some might have been interested in buying the loans and depositis, but certainly not the rest of the operation. Now it appears the computer system has been neglected for long enough that it isn't stable anymore.
Retail and commercial clients should be exiting this bank on mass as its systems aren't reliable and its service levels really suck. Appointing a 10 year vveteran who has been there for years of non-perfomance is not how you move forward. This stock is not going to do well over the next 5 years. I think it will come up a bit from the drop under $30, but it isn't going to get over $35 any time soon.
Investing4Life wrote: Anyone heard from analysts on this?
Theories on what this might mean?