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Bank of Ireland (IRE) Continues Tear, Topping Three-Year High

  +Follow January 13, 2014 10:45AM
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Coming off a robust 2013 that saw them become the biggest large-cap Financial gainer of 2013, The Governor and Company of the Bank of Ireland (IRE) notched a nearly five percent gain on Jan 13, continuing a rapid march upwards that began last summer. In the last six months, Ireland’s largest bank has nearly doubled in value.

The Bank of Ireland was nearly obliterated in the 2008 crash, with shares losing almost 99 percent of their value in less than two years. A government bailout saved the company from insolvency, but shares had languished until mid-2013.

Since that time, analysts have been effusive in their praise of the bank. Eamonn Hughes of Goodbody noted Bank of Ireland is profitable for the first time since the collapse, and sporting a high asset quality while selling of an oversubscribed 10-year-bond. Comments like Hughes' stands in stark contrast to analyst consensus in 2012, when both Citi (C) and Deutsche Bank (DB) hit the Bank of Ireland with a "sell" rating.

This is an about turn for a financial institution that saw astounding returns for over a decade before collapsing. Bank of Ireland first began sporting massive returns during Ireland’s “Celtic Tiger” economic turnaround, and doubled every four years during the global boom of the early 2000s, nearly touching $900 a share in Feb. 2007. By Mar 2009 those shares were worth around $12 apiece.

A reverse split in 2011 did little to spur the company, but the final shedding of toxic assets, coupled with a general recovery of the global economy, has energized the financial play. Bank of Ireland was not only the best-performing large Financial play of 2013, but so far is the biggest gainer in 2014 as well.

On Jan 13 Bank of Ireland rose 4.62 percent by midday trading to hit $18.11 a share. Shares are up 99.5 percent from six months ago.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for IRE
Bret Kenwell
19 Dec 14 15:11:04
The Number One European Stock to Own in 2015 Is... From Russia? http://t.co/Ukik2TodSk via @TheStreet $IRE $MT $RIG $TESO $CTCM
Bret Kenwell
19 Dec 14 13:19:53
Warren Buffett’s 'Huge Mistake' May Be the Stock to Own in 2015 http://t.co/tjb5gMyvr2 via @TheStreet $TESO $MT $RIG $IRE
Bashaar
19 Dec 14 08:33:23
Not many interesting stocks left all taken, found this one, I really like this set up for Monday $IRE Bank of Ireland http://t.co/x9ReeKyeeF
WKRB News
17 Dec 14 09:41:33
Bank of Ireland Research Coverage Started at Berenberg Bank $IRE http://t.co/eK8wrtd4aa
ProVesting
17 Dec 14 08:24:05
$IRE: Bank of Ireland Earns Sell Rating from Analysts at Berenberg Bank ... http://t.co/JsytvqRbBn http://t.co/ztPcZCpzmy
Sleek Money
17 Dec 14 08:21:57
Bank of Ireland Earns Sell Rating from Analysts at Berenberg Bank $IRE http://t.co/tiFuKd09y7
US Banking News
17 Dec 14 06:40:04
Bank of Ireland Coverage Initiated by Analysts at Berenberg Bank $IRE http://t.co/HY561tpvYt
US Consumer News
17 Dec 14 05:50:39
Bank of Ireland (ADR) initiated by Berenberg Bank at sell. http://t.co/9y6oL6zMM3 $IRE #IRE
Analyst Ratings
17 Dec 14 05:50:31
Bank of Ireland (ADR) initiated by Berenberg Bank at sell. http://t.co/ZoU8tkSzAv $IRE #IRE
ProVesting
17 Dec 14 03:15:03
$IRE: Bank of Ireland: IRE Shares Could Fall 35% Say Berenberg Bank http://t.co/2rhTOCPSDN http://t.co/M6zArj4M5a
SwingTradeBot
16 Dec 14 04:34:24
$IRE technical alerts: 200 DMA Resistance, Fell Below 50 DMA, and Wide Range Bar http://t.co/qDR9hyx4wV
SwingTradeBot
15 Dec 14 15:01:35
Scan results - Fell Below 50 DMA today: $ICON $PNM $SIR $VEEV $LXP $SCS $IRE $PL $CSLT $BPFH ... http://t.co/mF3fj5tZIa
stockmarketnow
15 Dec 14 12:18:06
RT TheStreet: Ireland's Biggest Bank Could Be Your Lucky Stock For 2015: http://t.co/spS4awbFS6  [Video] $IRE
TheStreet
15 Dec 14 12:01:05
Ireland's Biggest Bank Could Be Your Lucky Stock For 2015: http://t.co/jEumY89vr6 [Video] $IRE
Day Trade Alerts
15 Dec 14 08:43:20
via #AlertTrade SHORT Seller Alert $IRE - BANK of IRELAND #ShortSeller #Stocks http://t.co/VS8RO1tb5N
JenJenXO
14 Dec 14 12:00:07
How Fat Is That ASS - Jkord Ft. $ire | PRODUCED BY @RubenxOcean http://t.co/2khbcyUmrF
JenJenXO
14 Dec 14 00:00:06
How Fat Is That ASS - Jkord Ft. $ire | PRODUCED BY @RubenxOcean http://t.co/viPkTXjOKY
JenJenXO
13 Dec 14 14:00:06
How Fat Is That ASS - Jkord Ft. $ire | PRODUCED BY @RubenxOcean http://t.co/RJBTq6WuwW
JenJenXO
13 Dec 14 03:00:05
How Fat Is That ASS - Jkord Ft. $ire | PRODUCED BY @RubenxOcean http://t.co/aIiiAsQAOn
JenJenXO
12 Dec 14 15:00:06
How Fat Is That ASS - Jkord Ft. $ire | PRODUCED BY @RubenxOcean http://t.co/bBee6MUKLn
				
				
  +Follow January 13, 2014 10:45AM
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