Hudson City Bancorp, Paramus, N.J., has been tagged the "Bear of the Day" for April 16 by Chicago-based Zacks Equity Research, which cited mortgage-related concerns. "With current industry overhangs for mortgage lending, we take some exception to the company's significant use of purchased mortgages given credit and capital metric trends at this time," Zacks said. The research firm said it is maintaining its sell rating on the company, projecting a total return of negative-14.3% for the company's stock over the next six months. The research firm can be found online at http://www.zacks.com.
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