DLJ Bullish On North Fork's Prospects - Without Dime

Donaldson, Lufkin & Jenrette began coverage of North Fork Bancorp on Wednesday, saying the Melville, N.Y., company has a shot at picking up market share in New York City, even without an acquisition of Dime Bancorp.

Analyst Rosalind F. Looby initiated coverage of North Fork with a "market performance" rating. In her report, she said the acquisitive banking company "is becoming increasingly focused on improving its internal growth rate." North Fork's latest acquisition attempt - its hostile bid for Dime - is on hold until Sept. 29, by which time Dime's managers must decide whether to accept North Fork's offer.