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Buying Opportunity? Allied Irish Banks (NYSE:AIB)

8 November 2007
Written by: average_joe Posted under Stocks - US, Stock Reports

Back on August 9th, Dividends Matter reader David had suggested that we have a look at Allied Irish Banks which is an ADR that trades on the NYSE under the symbol AIB.

At that time, everything looked good and we added it to our portfolio of superior dividend yielding stocks. Unfortunately, it was a little too pricey for us back then at $54.40. So we decided to sit back and wait patiently.

With the recent pullback, especially the financials, this company has now fallen into the buy range! I re-ran the calculations to make sure that everything was still lined up.

The average high dividend yield is 4.39%. The current dividend yield is now 4.79%! Our model price works out to $46.29 which is a discount of 8.39% over yesterday’s price of $42.41.

There is some currency diversification with this stock.

Here is the current dividend analysis of AIB.

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3 Responses to ' Buying Opportunity? Allied Irish Banks (NYSE:AIB) '

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  1. Tom Steele said,

    on November 19th, 2007 at 2:50 pm

    I am curious whether there is any exposure to subprime loan instruments that might be bringing the price of AIB down. Thanks!

  2. average_joe said,

    on November 19th, 2007 at 9:28 pm

    And that is the $64 million question.

    Or is it being brought down with the rest of the financials? I am sure that it has some exposure. In today’s global economy, everybody has a piece of the pie.

    But would their exposure be as high as Citigroup and BAC?

  3. Ramunas said,

    on November 22nd, 2007 at 1:51 pm

    Don’t think there is any exposure to subprime by AIB. Slowdown in Irish housing market is one of the main negative factors here.

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