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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
johng.
21 Oct 14 08:55:33
@GdaytoYou $IRE is doing very well. 4
Jaimito Opina TV
20 Oct 14 20:32:29
Me ha gustado un vídeo de @YouTube (http://t.co/VVTbuv474R - J.Kord - I Got B*tches Ft. Ruben & $ire).
Rich
19 Oct 14 19:29:09
RT @SireOfficial: 💃"Bitches dancing on top of Bitches" J.Kord x Ruben x $ire http://t.co/ijGuak2eem
KayExclusive
17 Oct 14 08:23:14
RT @ferrari_428: J.Kord - I Got B*tches Ft. Ruben & $ire @YoungMusicGod - "I GOT BITCHES " Ft. @RubenxOcean & @SireOfficial http://t.co/lC…
Paper Clique Music
16 Oct 14 19:38:15
RT @ferrari_428: J.Kord - I Got B*tches Ft. Ruben & $ire @YoungMusicGod - "I GOT BITCHES " Ft. @RubenxOcean & @SireOfficial http://t.co/lC…
J.Kord
16 Oct 14 19:37:04
RT @ferrari_428: J.Kord - I Got B*tches Ft. Ruben & $ire @YoungMusicGod - "I GOT BITCHES " Ft. @RubenxOcean & @SireOfficial http://t.co/lC…
Rich
16 Oct 14 19:03:08
J.Kord - I Got B*tches Ft. Ruben & $ire @YoungMusicGod - "I GOT BITCHES " Ft. @RubenxOcean & @SireOfficial http://t.co/lCCfcf74V4
VOTEM
15 Oct 14 18:31:22
RT @SireOfficial: 💃"Bitches dancing on top of Bitches" J.Kord x Ruben x $ire http://t.co/ijGuak2eem
KayExclusive
15 Oct 14 07:06:10
RT @OldHeadsGnB: J.Kord - I Got B*tches Ft. Ruben & $ire: http://t.co/A9pxKovlGw via @YouTube
OldHeadsGnB
15 Oct 14 06:54:53
J.Kord - I Got B*tches Ft. Ruben & $ire: http://t.co/A9pxKovlGw via @YouTube
US Banking News
15 Oct 14 06:32:24
Analysts Give Average Rating of Buy to Bank of Ireland (ADR) $IRE http://t.co/r75prq1XTG
Krishan
14 Oct 14 22:38:16
Biggest gains on the ASX200 today: $ARP up 5.3%, $EGP up 4.4%, $QAN up 3.9%, $TAH up 3.7%, $IRE up 3.6% #ausbiz ^TP"
CommSec
14 Oct 14 22:13:21
Biggest gains on the ASX200 today: $ARP up 5.3%, $EGP up 4.4%, $QAN up 3.9%, $TAH up 3.7%, $IRE up 3.6% #ausbiz ^TP
CommSec
14 Oct 14 20:01:38
Biggest gains on the ASX200 today: $ARP up 5.9%, $IRE up 3.8%, $HZN up 3.7%, $QAN up 3.7%, $EGP up 3.5% #ausbiz ^SD
OTPicks.com
14 Oct 14 08:26:38
http://t.co/UUQeeS6eNk Zephyr: $IRE nHOD Ireland ends austerity measures with 2015 budge http://t.co/OIDrmnqiTN http://t.co/UUQeeS6eNk
OTPicks- OnTimePicks
14 Oct 14 08:26:36
http://t.co/q3RLPoRVry Zephyr: $IRE nHOD Ireland ends austerity measures with 2015 budge http://t.co/yv3xHqFNv5 http://t.co/q3RLPoRVry
OTPicks.com
14 Oct 14 08:26:30
http://t.co/y0P0rvA8JD Zephyr: $IRE nHOD Ireland ends austerity measures with 2015 budge http://t.co/rULBnA2wV6 http://t.co/y0P0rvA8JD
O T P i c k s . com
14 Oct 14 08:26:28
http://t.co/oHSUax81PW Zephyr: $IRE nHOD Ireland ends austerity measures with 2015 budge http://t.co/orX8d06tcK http://t.co/oHSUax81PW
O T P i c k s . com
14 Oct 14 08:26:26
http://t.co/n4dbsXgLGq Zephyr: $IRE nHOD Ireland ends austerity measures with 2015 budge http://t.co/Hx0gQEoAU4 http://t.co/n4dbsXgLGq
Zephyr
14 Oct 14 08:14:34
$IRE nHOD Ireland ends austerity measures with 2015 budget.
				
				
  +Follow January 13, 2014 10:45AM
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