Hudson City Bancorp, Inc. (NASDAQ:HCBK) posts Q3 earnings

Denver, CO, 10/28/2013 (Avauncer.com) – Hudson City Bancorp, Inc. (NASDAQ:HCBK)’s shares closed at $8.99 on Friday after recording a minor fall of o.o4 cents. The company had announced its Q3 earnings,reporting a net income of $42.7 million, on last Wednesday. The net income so reported was below by 13.2 million as compared viagra aus usa to the net income of $55.9M in the same quarter of 2012. For the period of nine months ending on 30 September 2013, the company posted a lower net-income of $139.4M as against the net-income of $201.2M for the same quarter of 2012. The earnings per share also stood at $0.09 for the quarter, below the EPS of  $0.10 as recorded in the second quarter of 2013.

For the period ending 30 September, the earnings per share was dropped considerably to $0.28 as opposed to the $0.41 earnings per share during the same period of 2012. Apparently, the company has also stated that the board of directors has declared a quarterly cash-dividend of $0.04/share. The record date of which is set on 8 November 2013 and will be payable to the shareholders on 29 November 2013.

During the earnings report, the company’s Chairman and Chief Executive Officer Ronald E. Hermance made a comment that due to increase in market rates, there have been fewer mortgage repayments as compared to the last quarters. He also added that although the company has been able to size down its mortgage portfolio, but the current market rates are too low to work at the balance sheet growth.

About the Company

Hudson City Bancorp, Inc. headquartered in Paramus, NJ operates through its subsidiary, Hudson City Savings Bank.The company offers residential real estate mortgage loans, traditional deposit products and consumer loans. Apart from it, the company is also engaged in mortgage purchases and mortgage-backed securities as well as other securities issued by U.S. government-sponsored enterprises (GSEs) and investments as permitted by applicable laws and regulations

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