A veteran New England financial analyst is wary of a price bubble in shares of the region's thrift institutions, which have recently hit sky-high levels on takeover speculation.

"The price increases have been indiscriminate. It's as if the market expects deals to be announced next week," said John D. Rooney Jr. of Legg Mason Wood Walker Inc., who works in the firm's New Haven, Conn., office.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.