Hudson City Beats by a Penny, Declares Dividend

Hudson City Bancorp’s (HCBK) second-quarter operating earnings came in at 29 cents per share, just a penny ahead of the Zacks Consensus Estimate of 28 cents. Earnings also compared favorably with 26 cents in the prior-year quarter. The results were primarily helped by lower interest expense, partially offset by an increase in provision for loan losses. Hudson City reported an 11.5% year-over-year increase in net income to $142.6 million. Net interest income increased 5.0% year over year to $317.5 million. Net interest margin declined 5 basis points year over year to 2.13% from 2.18% in the comparable period last year.... Read more

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