Hawkeye Bancorp. is moving to boost fee income - but at least one analyst says the effort is not enough.

Anthony A. Lombardi, who follows the $1.9 billion-asset Hawkeye for Dean Witter Reynolds Inc., recently gave the stock a neutral rating. In a report he tells investors to hold off buying Hawkeye because the stock is too expensive. The Des Moines-based concern was trading at $20.625 on Monday, or 11 times Dean Witter's 1995 estimated earnings per share.

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