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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
Medallion Man
25 Nov 14 17:02:11
Sunday Sessions brings you everything from $kinni-Mane Pat & Yung $ire to Mr. Oizo and Fraxinus! http://t.co/wFatuHobr3 @ElectronicWave1
Lucky Jimmy
25 Nov 14 10:19:52
IRE Stock up +3.06% percent Today $IRE High is at 16.28 and the Low 16.06 with current volume of 196,930. Gove http://t.co/ZhZAIrhr0m
Lucky Jimmy
25 Nov 14 10:19:30
$IRE IRE up +3.06% percent Today $IRE Stock High is at 16.28 and the Low 16.06 with current volume of 196,930. Gove http://t.co/NVC7nn8sBa
Billy
25 Nov 14 09:45:56
$IRE finally getting some love again
HotKeyTrading
25 Nov 14 08:00:06
Price Advances: $WERN $IRE $VTNR $DY $PLL $PXD $MW $CMCSA $RXN $TEF $BAK $SIG $BWS $TIF $EVC http://t.co/Vv2VEnpBuv #markets #daytrading
jim50
25 Nov 14 07:56:34
IRE Gapped up +0.05 $IRE Last Price 16.10 Day High 16.10 Day Low 16.10 Change +0.40 Volume 6,100 Today 69 stoc http://t.co/ftIwlncdHj
jim50
25 Nov 14 07:56:10
$IRE IRE Stock Gapped up +0.05 $IRE Last Price 16.10 Day High 16.10 Day Low 16.10 Change +0.40 Volume 6,100 Today 6 http://t.co/0urycFy1We
Stage Analysis
25 Nov 14 07:21:44
$IRE potential for a Stage 2 continuation attempt http://t.co/d7SFNBur0D http://t.co/5Q2uy5QRC3
johng.
25 Nov 14 06:42:46
@traderstewie $IRE is moving very well!
joe beattie
23 Nov 14 18:35:35
@FA_Stocks I own $nbg $gnw $bbry $fairx $ire $bks. Not easy to do to be greedy when others are selling at any price
Todd Sullivan
22 Nov 14 08:51:33
RT @valuewalk: Wilbur Ross: No Alternative To Equities; Bank of Cyprus Turnaround Promising http://t.co/MJZ4258LKC $IRE $FXI
CapitalistWorld
21 Nov 14 20:47:01
Wilbur Ross' new baby: Bank of Cyprus 280 brchs: 144 in Russia 130 in Cyprus. Assets €28B & Equity €2.8B Next $IRE? http://t.co/glRpUxgOzm
ValueWalk
21 Nov 14 06:40:54
Wilbur Ross: No Alternative To Equities; Bank of Cyprus Turnaround Promising http://t.co/MJZ4258LKC $IRE $FXI
lookn4wins
20 Nov 14 22:57:32
IRE 15.34 Stock Charts $IRE Governor & Co. of the Bank of Ireland ADS (NYSE) Any opinions on IRE? Please reply http://t.co/5USkDC0vHp
UpshotFund
20 Nov 14 20:42:22
$NEWT, $IRE, $CCI, $TENX, $GFIG, #Bullish, #BUY Signal, #stocks #investing
jim50
19 Nov 14 08:24:34
IRE Gapped up +0.10 $IRE Last Price 15.18 Day High 15.21 Day Low 15.21 Change +0.11 Volume 9,700 Today 112 sto http://t.co/WvqZ539o28
jim50
19 Nov 14 08:24:12
$IRE IRE Gapped up +0.10 $IRE Last Price 15.18 Day High 15.21 Day Low 15.21 Change +0.11 Volume 9,700 Today 112 sto http://t.co/EU7zWT7Kkf
Penny Stock Secret
19 Nov 14 02:34:23
Yesterday We Made $89,000 In Just One Trade More Info Here http://t.co/SVqoMlijqL .. $IRC-A $IRE $IRE-B
Becky Hiu
18 Nov 14 19:53:32
Even PIIGS Spain $EWP, Italy $EWI, Ireland (Bank $IRE) are up big today.
				
				
  +Follow January 13, 2014 10:45AM
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