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

  +Follow January 13, 2014 10:45AM
Tickers Mentioned:

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
Stock News Updates
28 Aug 14 11:27:33
$IRE: Penny Stock's Buzzers: British Sky Broadcasting Group plc (ADR) (BSYBY ... http://t.co/VBWMhXFqfJ http://t.co/p37s6RRHCP
Investors Hangout
28 Aug 14 10:18:25
clayton: $IRE 16.1 http://t.co/iDu10YFzLP
Investors Hangout
28 Aug 14 10:18:25
clayton: $IRE 16.1 http://t.co/ozMa0uy6U5
28 Aug 14 10:05:49
$IRE 16.1 http://t.co/hYhAmt6YTu
Investors Hangout
28 Aug 14 09:20:24
DennyT: GLUU Investopedia $GLUU $EWSI $IRE $CELG $XRT http://t.co/guwLijF4fm
Investors Hangout
28 Aug 14 09:20:20
DennyT: GLUU Investopedia $GLUU $EWSI $IRE $CELG $XRT http://t.co/uwApo79Cuk
Investors Hangout
28 Aug 14 08:45:14
danrocks: $QID Hit my list a few days ago $IRE $APC $QID http://t.co/WpNk5x7wZk
Investors Hangout
28 Aug 14 08:45:14
danrocks: $QID Hit my list a few days ago $IRE $APC $QID http://t.co/j5uo3zzKkb
Financial Updates
28 Aug 14 08:27:30
$IRE: Investor's Watch List -Barclays PLC (ADR)(NYSE:BCS),Bank of Ireland (ADR ... http://t.co/qlbwHlmWvy http://t.co/xLiu7P4uIw
28 Aug 14 08:18:41
http://t.co/Vv1sYDyeQn danrocks: ZIP CASH TRAIN: $QID Hit my list a few days ago $IRE $APC $QID http://t.co/57xikjJ5bh
28 Aug 14 08:15:15
$QID Hit my list a few days ago $IRE $APC $QID $GLUU $F http://t.co/CYztg6VLrw
Investors Hangout
28 Aug 14 07:39:20
leahanne: $BIDU Baidu Inc (BIDU) 212.13 -3.33 (-1.55%) $IRE http://t.co/7KWnSJYCF4
Investors Hangout
28 Aug 14 07:39:17
leahanne: $BIDU Baidu Inc (BIDU) 212.13 -3.33 (-1.55%) $IRE http://t.co/1X2WoucXex
28 Aug 14 07:17:47
$BIDU Baidu Inc (BIDU) 212.13 -3.33 (-1.55%) $IRE $FXI $IYT http://t.co/jVeH73G8lL
27 Aug 14 18:10:56
If Draghi's version of QE is coming to European banks. Then they are BUYS: $IRE $ING $DB $CS $SAN $BCS $NBG
Stocks in News
27 Aug 14 16:27:52
$IRE: Penny Stock's Buzzers: British Sky Broadcasting Group plc (ADR) (BSYBY ... http://t.co/qF1bkoKrrs http://t.co/MFMnvHqOU4
27 Aug 14 16:23:46
$IRE chart https://t.co/P8X9QWlPKa via http://t.co/gH6btxpodo
27 Aug 14 14:04:18
$IRE Went up over 1% before opening bell. Maintains revenue of 1.12 B http://t.co/kCsAa8fUng
Wu Weed
27 Aug 14 11:16:34
#ireland // $IRE strong as ox // #green
27 Aug 14 08:13:56
$ire $bkir performing so nice the last month or so. The charts look great
Stock News Guru
27 Aug 14 07:27:29
$IRE: Trinity Biotech Announces Quarter 2 Financial Results; 25% Increase in ... http://t.co/UN6KY2olpY http://t.co/x312TnARMz
27 Aug 14 07:24:51
$IRE date with 200 day
27 Aug 14 06:50:33
http://t.co/UUQeeS6eNk Zephyr: $IRE $NBG moving higher...QE happy Euro banks.: Zephyr http://t.co/pvMw5Mh42H http://t.co/UUQeeS6eNk
OTPicks- OnTimePicks
27 Aug 14 06:50:31
http://t.co/q3RLPoRVry Zephyr: $IRE $NBG moving higher...QE happy Euro banks.: Zephyr http://t.co/9yPsbgnJ5L http://t.co/q3RLPoRVry
27 Aug 14 06:50:24
http://t.co/y0P0rvA8JD Zephyr: $IRE $NBG moving higher...QE happy Euro banks.: Zephyr http://t.co/Q4sYoLODuN http://t.co/y0P0rvA8JD
O T P i c k s . com
27 Aug 14 06:50:21
http://t.co/oHSUax81PW Zephyr: $IRE $NBG moving higher...QE happy Euro banks.: Zephyr http://t.co/dq167Pt7Pl http://t.co/oHSUax81PW
  +Follow January 13, 2014 10:45AM



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