A Smart Looking S&L Gets The Eye

Sovereign Bancorp isn't one of your ordinary thrifts. Merrill Lynch bank analysts Jerry Gitt and Nancy Hazelrigg describe this Wyomissing (Pa.) savings and loan as "an excellent company, and certainly one of the more successful in the thrift industry." But they and most other analysts have posted a "hold" opinion on the stock because at 13 a share, it's trading at valuations much higher than other thrifts.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.