StockIceMan's Weekly Stock Pick
Week of
September 17, 2007
| Stock: |
Fremont General
Corporation |
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| Ticker Symbol: |
FMT - NYSE - Financial -
Pacific Banks |
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|
| Buy: |
4.75 to 5.25 |
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|
| Sell: |
7.00 |
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Info: |
Fremont General Corporation operates as the
holding company for Fremont Investment & Loan,
which engages in residential real estate lending
business in the United States. It originates
non-prime or sub-prime residential real estate
loans through independent brokers on a wholesale
basis, which are primarily sold to third party
investors. The bank also offers certificate of
deposit, and savings and money market deposit
accounts insured by the FDIC, through its 22
branches in California. The company was founded
in 1963. It was formerly known as Lemac
Corporation and changed its name to Fremont
General Corporation in 1973. The company is
headquartered in Santa Monica, California. |
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| Financial Info: |
For the nine months 9/30/2006, interest income
increased 48% to $888 million. Net interest
income after LLP increased 18% to $439.9
million. Net income decreased 59% to $113.1
million |
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| Key Ratios: |
Current
Ratio: 1.281, Total
Debt/Equity Ratio: 1.029, Trailing P/E: 2.27x,
Forward P/E: N/A, Price/Sales: 0.54,
Price/Book: 0.26 |
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| Share Info: |
There are 77.86
million shares outstanding with 66.29
million shares in the trading
float. Institutions own
approximately 84.00% of the shares outstanding.
There has been no insider purchases or
sales in the last six months.
Real-Time SEC Filings
As of 8/10/2007, there were 23.17million shares short.
Net Institutional Selling: 6.302 million shares prior to latest
quarter. |
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| Articles: |
FREMONT GENERAL CORP Files SEC form 8-K, Change
in Directors or Principal Officers
Fremont names interim CEO, completes sale |
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