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NASDAQ Stocks In The News.(B)

Investor's Business Daily

| July 02, 2001 | COPYRIGHT 2001 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: David Saito-Chung

Port Financial charged higher soon after its mid-April 2000 initial public offering and rose 91% to its peak of 20.50 on Feb. 9. Since then the stock has formed an 18-week base and lies 2% off its high.

The Massachusetts-based holding company for Cambridgeport Bank has marked steady earnings and revenue growth annually since 1996. Earnings have risen an estimated 18% annually from 1996 to 2000. On a quarterly basis, growth has ranged from 32% to 108% over the last four quarters.

On June 8, Port said it completed the repurchase of 352,460 shares, or 5% of the 7 million common shares outstanding, at an average price of $20.06 a share.

The stock is a micro-cap, with a market value of under $150 million. On average, just ...

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