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[Jackson1]

Hallo Zusammen,

Netbank hat angekündigt, 660.000 Aktien (=2%) zurückzukaufen.

Dabei sollen die Aktien "normal" am Markt aufgekauft werden.

Jackson1

[Darmspuelung]

scheint ja langsam zu fruchten !!!!

[AxelMV]

NetBank
Our next company was founded under the assumption that a bank operating only online could provide banking services far cheaper than banks that have assets tied up in bricks and mortar branches. With a lighter cost structure, NetBank (Nasdaq: NTBK) can offer higher yields to its depositors without sacrificing profitability. While the company does not offer the comfort of convenience of the corner bank, NetBank offers some of the very best yields on deposits in the nation.


NetBank is not the only bank with online operations, but it is one of the few banking institutions to focus solely on the Internet. Its closest competition is E*Trade (NYSE: ET), which acquired Telebank last year in an effort to combine brokerage and banking services into one organization.


NetBank has seen more than its fair share of growth over the last year. The company was able to more than double its accounts in 2000 and now has 162,000 accounts under its belt. Most of this growth came thanks to aggressive marketing of its checking accounts, which more than tripled in number over the last year.


There is also some strong indication that NetBank customers are highly satisfied with the service they are receiving from NetBank. The company stated with its fourth-quarter earnings that customer attrition is running at only about 4% annually, which is better than many bricks-and-mortar banks, and especially impressive given the new and uncertain nature of online banking in the public`s eye. NetBank is obviously doing something right to have such strong customer "stickiness," and the company should be able to continue to robustly grow its accounts in the coming years.


We profiled NetBank in the latest Internet Report because the company is profitable, growing fast, and it`s only trading at book value. The company is very proud of the fact that it was the first bank to operate profitably on the Internet and that it has reported positive earnings in each of the last 11 quarters.


Although, it is worth noting that this streak would have been broken this year if not for the company recognizing certain gains on the early retirement of debt. Nevertheless, NetBank is at worst running at breakeven, and should be able to grow its profitability in the coming years as the fixed costs of operating an online bank are spread out over a larger customer base.


Trading at roughly its book value, NetBank shares appear to be very attractively priced. At a recent price of less than $8, NetBank has a market capitalization of a mere $240 million, yet has a book value of $250 million. This is quite inexpensive for a bank, especially one expected to have top-line growth in the 30%-40% range over the next five years. Like the other diamonds we profiled, the downside appears limited and the upside potential is notable.


Of course, we would not be Fools if we did not remind you to do your own research and come to your own conclusions on these gems in the dot-com scrap heap. That said, our opinion is clear on these two companies as well as the other three in the latest Internet Report -- the potential reward is very attractive relative to the risk at these prices.



http://www.fool.com/research/2001/foolsden010320.htm?source=…