Investors should wait for Wilmington Trust results-Barron’s

NEW YORK, Oct 17 (BestGrowthStock) – Investors should wait until
after quarterly earnings before considering an invesment in
Wilmington Trust (WL.N: ), a bank reportedly seeking capital
funding, according to an article in Barron’s, a weekly
financial newspaper.

The bank’s shares have dropped more than 70 percent in the
past three years due in part to its portfolio of real-estate
construction loans, the Oct. 18 report said.

Reports that the bank had been seeking capital from private
equity firms further hit shares of the Wilmington,
Delaware-based company, which owns a profitable
wealth-management group that could be considered attractive to
a potential buyer, the newspaper said.

The bank chairs unsecured creditors’ committees for General
Motors and Lehman Brothers (LEHMQ.PK: )s.

Analysts say investors should wait until after the bank
posts earnings in November, though with five consecutive
quarters of losses many don’t expect a profitable period,
Barron’s reported.

Shares of Wilmington Trust, which fell 1.6 percent to close
on Friday at $7.79, have traded between $7.26 and $20.23 in the
past 52 weeks.
(Reporting by Ernest Scheyder; Editing by Jan Paschal)

Investors should wait for Wilmington Trust results-Barron’s