Stay informed with free updates Simply sign up to the US financial regulation myFT Digest — delivered directly to your inbox. The Federal Deposit Insurance Corporation has a “misogynistic” and “insular” workplace whose chair may not be well suited to lead needed reforms, says a new report commissioned over complaints about widespread sexual harassment inside…
kelvinjay By James Smith, Chris Turner & Michiel Tukker Three scenarios for Thursday’s Bank of England meeting ING Markets aren’t fully buying the BoE’s new-found optimism Can the Bank of England diverge from the Federal Reserve on rate cuts? Bank officials – including Governor Andrew Bailey – have been not-so-subtly hinting that it can. We…
BNP Paribas, the second largest European bank, has purchased exposure to Bitcoin via a spot ETF, per recent 13F filings with the SEC . The filings show BNP Paribas bought BlackRock’s iShares Bitcoin Trust ETF (IBIT). JUST IN: 🇫🇷 Second largest European bank, BNP Paribas reports exposure to #Bitcoin ETF in 13F filings. It's just…
bjdlzx Management of Yangarra Resources Ltd. (OTCPK:YGRAF) has stated that there is a goal to get the bank debt down to C$80 million. This is a Canadian company that reports in Canadian dollars unless otherwise noted. The bank debt did indeed decline in the just-reported first quarter, as net debt declined about C$9.5 million. This…
gyro By Min Joo Kang, Senior Economist, South Korea and Japan Quite the dramatic change to the monetary policy statement The Bank of Japan’s statement was much shorter than those previously. It consisted of just three sentences, so it didn’t provide much information about future guidance or policy preferences. This may be because the quarterly…
MicroStockHub We previously covered Bank of America (NYSE:NYSE:BAC) in October 2023, discussing the massive pessimism embedded in the stock’s valuations and its mixed prospects, thanks to the mistaken perception that its unrealized losses were growing. While we continued rating the stock as a Buy here, thanks to the outperformance of its quarterly financial reports, investors…
RiverNorthPhotography Interest rates have moved sharply higher this year. The yield on the benchmark 10-year Treasury note has jumped from 3.8% last December to near 4.7% over recent trading days. The 2-year note yield is back at 5% amid strong economic growth data and inflation readings that are above what the Federal Reserve wants to…
JamesBrey TrustCo Bank Corp NY (NASDAQ:TRST) is still one of our favorite regional banks to trade and invest in. The market has gone through a corrective period, and some stocks have gone on sale. With regional banking, the higher for longer narrative has weighed on some quality regional banks. TrustCo Bank is a great name…
A group of Bitcoin advocates in Switzerland have launched a campaign to convince the Swiss National Bank (SNB) to add Bitcoin to its balance sheet. The nonprofit organization 2B4CH aims to hold a national referendum to amend Switzerland’s constitution to require the central bank to hold Bitcoin. BREAKING: 🇨🇭Bitcoiners to launch a petition for Swiss…
sommart Canadian Western Bank (OTCPK:CBWBF) (TSX:CWB:CA) also known as CWB is a Canadian banking institution based out of Western Canada. As of Dec 31, 2023, its total asset size is approximately $43 billion. This makes CWB the 8th largest bank in Canada by total asset size. A move up from 10th place several years ago….
Spencer Platt Thesis In my previous article covering Bank of America Corporation (NYSE:BAC), I rated the stock as a buy after assigning a fair price target of $39.41 and a future price of $67.80. At that time, the stock was trading at $33.40 and now, when writing this article, the stock price has climbed to…
Independent Bank Corp. (NASDAQ:INDB) Q1 2024 Earnings Call Transcript April 19, 2024 10:00 AM ET Company Participants Jeff Tengel – Chief Executive OfficerMark Ruggiero – Chief Financial Officer and Head of Consumer Lending Conference Call Participants Mark Fitzgibbon – Piper SandlerSteve Moss – Raymond JamesLaurie Hunsicker – Seaport ResearchChris O’Connell – KBW Operator Good day,…
MCCAIG A quite bizarre piece of news has recently hit the investor community which is not really being addressed by the financial media. I assume the reason that it’s not being covered by the financial media is because it deals with a complex issue involving bank regulators which is beyond the average investor’s ability to…
Bank OZK (NASDAQ:OZK) Q1 2024 Earnings Conference Call April 18, 2024 10:00 AM ET Company Participants Jay Staley – Director of Investor Relations and Corporate DevelopmentGeorge Gleason – Chairman and Chief Executive OfficerBrannon Hamblen – PresidentTim Hicks – Chief Financial OfficerCynthia Wolfe – Chief Operating Officer Conference Call Participants Stephen Scouten – Piper SandlerCatherine Mealor…
EschCollection/DigitalVision via Getty Images This is a key season for regional bank earnings. Concerns over higher for longer interest rates, consumer credit debt, delinquencies, 7% plus mortgage rates, and a brewing issue with commercial real estate exposure have combined to generate a lot of anxiety. Of course, not all banks cater to the same type…
Marc Dufresne The Bank of Canada kept its key policy rate on hold at 5%. The central bank says it’s starting to see the economic conditions needed to lower rates, but that it’s looking for more evidence the momentum can be sustained. Hafiz Noordin, VP & Director, Active Fixed Income Portfolio Management, TD Asset Management,…
TD Bank subsidiary TD Direct Investing recently uploaded a video on its YouTube channel explaining in detail the upcoming Bitcoin halving event, expected around April 19 or 20. The commercial serves to educate viewers on the significance of this event within the context of Bitcoin’s supply and demand dynamics. JUST IN: TD Bank subsidiary releases commercial explaining…
Get ahead of the market by subscribing to Seeking Alpha’s Stocks to Watch, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports and conference presentations. The release of the U.S. inflation report for March…
brightstars Introduction HDFC Bank Limited (NYSE:HDB), which was widely considered to be one of the pre-eminent financial institutions in India over the last few decades, has been going through a relatively rough patch for a while now. Last year, the talk of the town was the bank’s merger with HDFC Limited, a giant in the…
The exterior of a TD Bank building. Marvin Samuel Tolentino Pineda/iStock Editorial via Getty Images All else equal, I especially prefer to invest in businesses with demonstrable track records as dividend payers. The longer the dividend-paying streak that a company possesses, the more it catches my attention. In my opinion, there is no greater commitment…
bluejayphoto Banc of California (NYSE:BANC) makes an attractive valuable position for bank investors as shares provide an attractive 3% dividend yield and the regional lender keeps selling for an attractive discount to its long term average P/B ratio. Banc of California owns a well-performing core loan portfolio with a very strong asset quality profile and…
LunaKate Bank of America (NYSE:BAC)’s shares have rallied 10% so far in FY 2024 on expectations that the Federal Reserve will delay its rate pivot and not push for a lower federal fund rates in the very short term. The change in the Fed’s tightening policy obviously benefits large Wall Street banks like Bank of…
Lemon_tm Gold staged a blinding comeback last week, surging to fresh all-time highs above $2,200 an ounce. The rally, which has added around 10% to gold’s value since mid-February, caught many market watchers off-guard. But for those of us who’ve stuck with the yellow metal through its ups and downs, the price action is the…
koto_feja The AI trend has lifted almost every stock that has a whiff of artificial intelligence capabilities in the market this year. But what generalist investors have to be wary of is that AI is a very broad category, and certainly not all companies are of comparable quality. This year’s rally seems to have lifted…
Bank OZK (Editor Note: This article was originally submitted when OZK was trading below $43/share, but was subject to a delay in publication) Investment Thesis Bank OZK (NASDAQ:OZK) is a regional bank that has offices across seven U.S. states which specialize in construction related lending. Year to date the stock is down 14.85%, prompting me…
MarsYu By Min Joo Kang & Chris Turner Summary of the BoJ’s new monetary policy framework The BoJ will restore the uncollateralised overnight call rate as a primary policy tool and set the rate in a range between 0% to 0.1% (a 7-2 majority vote). A continuation of its JGB purchases with broadly the same…
yorkfoto LCNB Corp (NASDAQ:LCNB) is a bank holding company whose primary asset is LCNB National Bank in southern and central Ohio. For the last few years, the share price has seen a lot of up and down swings, as the market seems unsure of how to value it. LCNB Price History (Seeking Alpha) Currently, LCNB’s…
Global banking giant Standard Chartered has upped its bitcoin price prediction for the end of 2024 to $150,000, a significant increase from its previous forecast of $100,000. In a new report, Standard Chartered analysts cited strong inflows into recently launched spot bitcoin ETFs in the U.S. as a primary driver of their bullish outlook. The…
Mrinal Pal India’s second-largest diversified banking group, ICICI Bank (NYSE:IBN), has come a long way since its governance lapses under ex-CEO Chanda Kochhar. Current CEO Sandeep Bakshi has not only been scandal-free (so far) but has also checked all the right fundamental boxes. The bank’s most recent quarter was a case in point – in…
rarrarorro/iStock via Getty Images Introduction In my previous article on Erste Group (OTCPK:EBKOF), I argued that based on the Austrian bank’s dividend policy and anticipated earnings, shareholders would be able to look forward to a dividend yield of 8%. Erste Group released its results a little while ago, and I was pretty satisfied to see…
ridvan_celik One of the best feelings in the world is seeing an opportunity that you were very bullish about appreciate materially in a rather short window of time. Last year, because of the plunge in financial stocks that came about because of the banking crisis, I found myself gravitating toward banks of all shapes and…
Golden_Brown Originally Posted on March 6, 2024 The Bank of Canada held its key interest rate steady at 5%, saying more time is needed for higher rates to bring inflation back to target. Maria Solovieva, Economist at TD, discusses with MoneyTalk’s Greg Bonnell why a June rate cut is still likely. Transcript Greg Bonnell –…
Spencer Platt/Getty Images News Introduction Bank of America (NYSE:BAC) is one of the largest financial institutions in the United States, and this banking giant with worldwide presence likely doesn’t need a lengthy introduction. While the common shares are well covered here on Seeking Alpha by a myriad of authors, I have been keeping an eye…
Bloomberg/Bloomberg via Getty Images Introduction Based on the read count and comments connected to my recent articles reviewing preferred stocks issued by banks, I searched for bank preferred stocks not covered yet. I found two issued by Bank of America (NYSE:BAC) that lacked covered on Seeking Alpha. They are: Bank of America Corporation 5% NCUM…
Erste Group Bank AG (OTCPK:EBKDY) Q4 2023 Earnings Conference Call February 29, 2024 3:00 AM ET Company Participants Thomas Sommerauer – Head of Investor Relations Willi Cernko – Chief Executive Officer Stefan Dörfler – Chief Financial Officer Alexandra Habeler-Drabek – Chief Risk Officer Conference Call Participants Benoît Pétrarque – Kepler Cheuvreux Gabor Kemeny – Autonomous…
Bank of America Corp.’s Merrill Lynch and Wells Fargo & Co.’s brokerage unit have begun offering access to exchange-traded funds (ETFs) that directly invest in Bitcoin, according to Bloomberg Law. JUST IN: Wells Fargo and Bank of America’s Merrill are offering spot #Bitcoin ETFs to wealth clients 🚀 pic.twitter.com/Lr3oD5XgrR — Bitcoin Magazine (@BitcoinMagazine) February 29,…
Arcadium Lithium plc (NYSE:ALTM) Bank of America Securities 2024 Global Agriculture and Materials Conference February 27, 2024 2:00 PM ET Company Participants Paul Graves – Chief Executive Officer Unidentified Company Representative Thank you. Our next session is with Arcadium Lithium of course created from the recent merger of Livent and Allkem. Arcadium owns a number…
SDI Productions Over the past year I have found a number of interesting players in the banking sector. Some of these have been enterprises that I became very bullish on that went on to achieve some rather meaningful upside. Other opportunities have fallen short of expectations. Others, still, were firms that I did not have…
Yuichiro Chino/Moment via Getty Images A new round of regional banking woes erupted in late January when New York Community Bancorp (NYCB) reported a Q423 loss of over $250 million and cut its dividend, partly attributed to writing off bad commercial real estate (CRE) loans. Banks with high CRE/Tier 1 capital ratios (over 300%) are…
zoranm EyePoint (NASDAQ:EYPT) has a potential blockbuster with EYP-1901 after a successful P2 trial that met all its endpoints in a very promising development. It sold off its remaining drug YUTIQ and reverted to a pure development company, betting the bank on EYP-1901. EYP-1901 has three possible uses (Wet AMD, NPDR and DME) each of…
Sezeryadigar Ares Capital (NASDAQ:ARCC)’s shares gained more than 1% after the BDC reported better than expected results for the December quarter. Ares Capital’s portfolio is performing well, net investment income is growing by the double-digits, and the BDC has seen an expansion in its debt yields due to higher interest rates in the U.S. economy….
Peter Dazeley/The Image Bank via Getty Images Background Welcome back to the fourth edition of Bank Buzz, where we cover the community bank sector, with a specific focus on mutual conversions, our favorite niche within a niche. As a reminder, we like this space, as many of these little banks are inexpensive and possess the…
sommart Anyone who thinks that the regional banking crisis is over has not been paying attention to the dismal recent earnings reports of New York Community Bank (NYCB), a US $100 billion regional bank, Aozora (OTCPK:AOZOY), a Japanese bank with significant US commercial real estate loan exposure, and Julius Baer (OTCPK:JBAXY), a Swiss bank. All…
kasezo/iStock via Getty Images Gold has had quite a run as of late. The second leg of a bull run in gold, a run that began in early 2019 when the metal was trading at just over $1,200 per oz, seems to have gotten underway recently when bullion prices decisively broke through the $2,000 handle….
Nordea Bank Abp (OTCQX:NRDBY) Q4 2023 Earnings Conference Call February 5, 2024 4:00 AM ET Company Participants Ilkka Ottoila – Head of Investor Relations Frank Vang-Jensen – President and Chief Executive Officer Ian Smith – Group Chief Financial Officer Conference Call Participants Magnus Andersson – ABGSC Andreas Hakansson – SEB Namita Samtani – Barclays Sofie…
SDI Productions First Foundation (NYSE:FFWM) is a small bank based in Dallas, Texas. It operates mainly in California, Florida, Texas, Hawaii, and Nevada. The current macroeconomic environment is putting it in serious trouble; in fact, NIM has plummeted precipitously in recent quarters. The main problem was mismanagement of capital allocation in 2022, and to date…
J. Michael Jones There has been a lot of speculation about “hold to maturity” issues at Bank of America (NYSE:BAC) that have created a lot of probably unnecessary fears. The sheer amount of misunderstanding about this part of the industry has led to a lot of market miscalculations as to the value of the common…
xavierarnau Listen below or on the go on Apple Podcasts and Spotify Loan-loss-provision and commercial-loan-loss jitters are hammering stocks. (0:15) Altria announces new stock buyback. (3:35) A winning January bodes well for the S&P in 2024. (5:25) The following is an abridged podcast: Our top story so far Pressure on regional banks continues today on…
Northeast Bank (NASDAQ:NBN) Q2 2024 Earnings Conference Call January 31, 2024 10:00 AM ET Company Participants Rick Wayne – President and Chief Executive Officer Pat Dignan – Executive Vice President and Chief Operating Officer JP Lapointe – Chief Financial Officer Conference Call Participants Alex Twerdahl – Piper Sandler Operator Welcome to the Northeast Bank Second…
Today, Volksbank Raiffeisenbank Bayern Mitte eG, a Bavarian cooperative bank with an ~130-year history, has entered into a long-term partnership with terahash.energy GmbH, according to a press release sent to Bitcoin Magazine. The Ingolstadt-based cooperative bank and the young startup, terahash, will collaborate on promoting topics related to Bitcoin and develop new offerings. “We are…