Countrywide Stock Is Rated A Good Buy, for Right Bank
Hochstein, Marc, American Banker
Countrywide Credit Industries has long maintained its intention to remain independent, even as the rest of the mortgage banking industry has been swallowed up by commercial banks.
But last week an equity analyst went on record suggesting that selling to a commercial bank could make sense, both for the Calabasas, Calif., home lender and the buyer.
"Countrywide would be a crown jewel for the right acquirer," Michael McMahon, an analyst at Sandler O'Neill & Partners LP, wrote as an aside in a research note.
The main purpose of the report was to initiate coverage of Countrywide with a "buy" rating. In an interview, Mr. McMahon was quick to say that his …
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Publication information: Article title: Countrywide Stock Is Rated A Good Buy, for Right Bank. Contributors: Hochstein, Marc - Author. Magazine title: American Banker. Volume: 165. Issue: 25 Publication date: February 7, 2000. Page number: 23. © 2009 SourceMedia, Inc. COPYRIGHT 2000 Gale Group.
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