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…
malerapaso/iStock via Getty Images Introduction On October 9, 2023, I started covering PNC Financial Services Group (NYSE:PNC) again for the first time since 2019, which now feels like ages ago. Back in October, I used a very similar title, which was “PNC Financial: One Of The Best Regional Banks Money Can Buy.” Here’s a part…
kutaytanir/E+ via Getty Images The Bank of Canada highlighted stubborn inflation as a key reason it kept interest rates hold, even as the economy showed signs of slowing. Andrew Kelvin, Head of Canadian & Global Rates Strategy with TD Securities, discusses the outlook for rates going forward with MoneyTalk’s Greg Bonnell. Greg Bonnell: The Bank…
gustavofrazao/iStock via Getty Images One little-known bank that we hold-rated in 2023 is Parke Bancorp, Inc. (NASDAQ:PKBK). The stock fell heavily with regional banks, but now has round-tripped over the last year. At this point, we think the bank is performing well. It is a small stable bank with a moderate yield. We continue to…
Community Bank System, Inc. (NYSE:CBU) Q4 2023 Earnings Conference Call January 23, 2024 11:00 AM ET Company Participants Dimitar Karaivanov – President and Chief Executive Officer Joseph Sutaris – Chief Financial Officer Conference Call Participants Alex Twerdahl – Piper Sandler Steve Moss – Raymond James Chris O’Connell – KBW Matthew Breese – Stephens Inc. Operator…
TrustCo Bank Corp NY (NASDAQ:TRST) Q4 2023 Earnings Conference Call January 23, 2024 9:00 AM ET Company Participants Robert J. McCormick – Chairman, President and CEO Michael M. Ozimek – CFO Scot R. Salvador – EVP Commercial Banking Conference Call Participants Alex Twerdahl – Piper Sandler Ian Lapey – Gabelli Funds Greg Roeder – Adirondack…
VioletaStoimenova Independent Bank (NASDAQ:INDB) is a Michigan-based bank where it operates with 62 branches. In my previous article, I assessed Q3 2023 as positive overall, and indeed the stock has risen 30% since then, albeit with some difficulties in the first few weeks. Today, however, I will analyze Q4 2023; EPS beat estimates but revenues…
Matteo Colombo/DigitalVision via Getty Images Centuries of investment wisdom, combined with my own personal experiences, have led me to realize that some of the greatest investment opportunities occur during periods of tremendous uncertainty. When it seems as though the world is falling apart, that is when stocks are discounted the most. It was the banking…
Fly View Productions We continue our Q4 earnings coverage of regional banks today with another sizable firm in M&T Bank Corporation (NYSE:MTB). The stock from a valuation perspective is relatively attractive, and offers investors a 4% yield with a growing dividend to wait for operational performance to improve. We believe that at first, rate cuts…
_ultraforma_ Investment Thesis – Q4 FY23 Update Citigroup (NYSE:C) (Citi) remains one of my favorite big-bank stocks after what may seem like initially disappointing Q4 and full-year FY23 results. CEO Jane Fraser has accelerated the bank’s turnaround program with tangible qualitative progress being made in FY23. While earnings data supporting the thesis of increased ROE,…
peshkov Welcome back to the third edition of Bank Buzz, where we cover the community bank sector, with a specific focus on mutual conversions, our favorite niche within a niche. Historically, investments in banks trading below tangible book value with overcapitalized balance sheets, solid asset quality, and shareholder-friendly management teams have generated attractive returns. In…
Mario Tama Thesis Citi (C) reported earnings on January 12, 2024, that beat EPS estimates, but trailed revenue expectations. Citi is a mammoth organization spanning the globe, and while it took some impairment charges around its Russia and Argentina businesses, its Tier 1 capital ratio stands at a very healthy 13.3%: Q4 2023 Results (Citi)…
The Bank of New York Mellon Corporation (NYSE:BK) Q4 2023 Earnings Conference Call January 12, 2024 1:00 PM ET Company Participants Marius Merz – Head of Investor Relations Robin Vince – President and Chief Executive Officer Dermot McDonogh – Chief Financial Officer Conference Call Participants Brennan Hawken – UBS Mike Mayo – Wells Fargo Securities…
sshepard Investment Thesis First Guaranty Bancshares, Inc. (NASDAQ:FGBI) is a U.S. regional bank based in Louisiana. The bank has been in operation since 1934 and has weathered multiple economic recessions and tricky macroeconomic environments. While at first glance the bank’s profitability has suffered significantly in recent years, I do not believe any tangible damage has…
Bank of America CEO Brian Moynihan Drew Angerer Bank of America Corporation (NYSE:BAC) just released its fourth quarter earnings. The release was a miss on revenue but a beat on adjusted earnings per share (“EPS”). Expectations were muted heading into the release. Wall Street expected Bank of America to do $23.73 billion in revenue and…
Danske Bank A/S (OTCPK:DNSKF) Q4 2023 Pre-Close Call January 9, 2024 7:30 AM ET Company Participants Claus Ingar Jensen – Head of Investor Relations Katrine Strobech – Investor Relations Officer Olav Jorgensen – Investor Relations Nicolai Tverno – Chief IR Officer & Head of Debt Investor Relations Conference Call Participants Sofie Peterzens – JPMorgan Jan…
franz12 Deutsche Bank (NYSE:DB) has improved its performance in recent quarter supported by rising rates, a trend that is expected to reverse in the near future. While its shares remain cheap compared to other European banks, this is justified by the bank’s low profitability level. As I’ve covered in a previous article, Deutsche Bank is…
Michael Nagle Thesis In this article, I will conduct a comparison among JPMorgan Chase & Co. (JPM), Bank of America Corporation (BAC), and Wells Fargo & Company (WFC). The valuation of the three largest U.S. banks reveals that JPMorgan is poised to outperform the other two, boasting a fair price per share of approximately $314.74….
M. Suhail M&T Bank (NYSE:MTB) is a Buffalo, New York-based regional bank, with over 1000 branches across the Eastern US, ranging from Maine to North Virginia. The bank operates as a universal bank, offering retail banking, commercial banking, and investment banking services. TradingView TradingView TradingView Through these activities, M&T recorded Q3’23 revenues of $3.09bn, alongside…
Michael M. Santiago 2023 has been a winning year for JPMorgan (NYSE:JPM), and 2024 should be no different: Heading into the next year, I am bullish on the banking industry, as I see rate cuts supporting credit volume as well as capital markets and M&A activity. Moreover, sentiment on banks should rebound sharply as lower…
fotoslavt/iStock via Getty Images In our last article, we gave (NYSE:BAC) a rare buy rating. We had the coupling of extreme valuations alongside some other factors that setup extraordinary returns. Our point is that the bond bear story, even if it pans out longer term, will take time to do so. There are no one-way…
In 2021, Bank of America’s equivalent of the North American air defence system started flashing warning lights. “Norad”, as Glass, the bank’s market analytics platform trained to predict volatility is nicknamed internally, was pointing to a sharp rise in short-term interest rates. BofA switched the positioning of its trading book and told clients to do…
SDI Productions Every so often, you will find an investment opportunity that makes sense to hold on to for many years. This will be the case even if the investment in question achieves attractive upside. But for most investments, once an initial amount of upside is captured, it makes sense to sell out and look…
Brandon Bell Bank of America Corporation (NYSE:BAC) or BofA investors received a delightful early Christmas gift from Santa, as BAC has significantly outperformed the S&P 500 (SPX) (SPY) since my previous update in September 2023. I urged investors to capitalize on the implied pessimism in BAC’s valuation, as those attractive levels “might be gone if…
Justin Sullivan/Getty Images News Introduction A few weeks ago, I wrote an article on the so-called “busted” preferred shares issued by Bank of America (NYSE:BAC) as it was unlikely that those shares will be force-converted anytime soon. While I have pretty much always focused on the Series L preferred shares, Bank of America has issued…
Brandon Bell The Federal Reserve’s decision to effectively end its cycle of interest rate growth has been the major reason for me to liquidate all of my bank holdings, including PNC Financial (PNC), U.S. Bancorp (USB), Wells Fargo (WFC), and now Bank of America (NYSE:BAC). Bank of America’s shares have soared following the Fed’s announcement…
This registration will let Ripple offer its certain digital assets services to clients within Ireland. Ripple has officially revealed that the Central Bank of Ireland (CBI) added its Irish entity Ripple Markets Ireland Limited (Ripple Markets) to the list of registered VASPs (Virtual Asset Service Providers). Now, after gaining this registration in Ireland, Ripple be…
Brian Moynihan Drew Angerer Bank of America (NYSE:BAC) is a stock I’ve had some great experiences with lately. I bought it heavily during the Spring 2023 banking crisis, then again during the treasury yield panic, eventually making the stock the biggest holding in my portfolio. I thought it was a good buy because it was…
The 25 billion BONK tokens airdropped to Solana developers last year are now worth over $600,000 after the meme token has rallied in the last few months. During the holidays, it is common for companies to give their employees bonuses, usually in cash or kind. But last year, Solana developers got a potentially life-changing bonus…
Just_Super/iStock via Getty Images The Bank of Canada did as expected by keeping rates on hold. Andrew Kelvin, Head of Canadian and Global Rates Strategy with TD Securities, explains why the central bank is likely keeping the possibility of another rate hike on the table, even as inflation shows signs of cooling. Transcript Greg Bonnell:…
Saxo Bank expects crude oil to hit $150 per barrel in 2024 while the Japanese economy to grow by a staggering 7%. As the year draws to a close, Wall Street banks are unveiling their forecasts for 2024, and Denmark’s Saxo Bank has once again embraced its annual tradition of presenting outrageous predictions. Termed as…
Armando Oliveira/iStock via Getty Images Grupo Financiero Galicia S.A. (NASDAQ:GGAL) is recognized as one of Argentina’s largest financial institutions with diversified operations across banking, insurance, and asset management. Despite the historically difficult economic environment in the country, GGAL has emerged as a surprising winner with shares more than doubling over the past year. The setup…
Reuters said the launch of the BTC and Ether trading services by Unibanco comes a few months after two of the country’s companies exited the crypto market. Brazilian banking giant Itau Unibanco has joined the crypto bandwagon with the launch of digital asset trading services for customers as part of its investment platforms, Reuters reported…
Brazil’s financial landscape witnessed a seismic shift as Itaú Unibanco, the nation’s largest private bank, announced its foray into the world of cryptocurrency trading Monday, introducing a service that allows its customers to engage in buying and selling Bitcoin and Ether via its ion investment platform. Marking a significant move for a traditional banking institution,…
Douglas Rissing Introduction While I’m not a big fan of non-cumulative preferred shares, some issues have features that are sufficiently interesting to consider adding them to my portfolio anyway. In a previous article, I discussed the “busted” preferred shares issued by Wells Fargo (WFC), and in this article, I’d like to have a closer look…
The transition began at the company headquarters in Switzerland, with plans for an eventual change of name and transformation across other offices located in financial hubs like Abu Dhabi, Hong Kong, and Singapore. The cryptocurrency bank, formerly known as Seba, is embarking on a major rebranding effort as it transitions to a new name –…
The Toronto-Dominion Bank (NYSE:TD) Q4 2023 Earnings Conference Call November 30, 2023 1:30 PM ET Company Participants Brooke Hales – Vice President, Investor Relations Bharat Masrani – Group President and Chief Executive Officer Kelvin Tran – Group Head and Chief Financial Officer Ajai Bambawale – Group Head and Chief Risk Officer Michael Rhodes – Group…
China has rolled out its digital RMB interconnection platform with Standard Chartered Bank that is expected to use it in streamlining cross-border payments and other services. The People’s Bank of China (PBoC) has made significant progress in rolling out the digital Renminbi ( e-CNY) during the past year. With about 26 digital RMB active pilot…
Bitcoin has seen a positive trend over the past few weeks after dropping to a new all-time low last year due to the crypto winter that wiped billions of dollars from the industry. Standard Chartered Bank is doubling down on its Bitcoin (BTC) predictions, suggesting that the leading crypto asset has the potential to soar…
The Bank of Korea will be looking to use the pilot stage of its CBDC to determine things such as acceptability and ease of use. South Korea, through its apex bank – The Bank of Korea (BOK) – has revealed its plans to begin testing its central bank digital currency (CBDC) in 2024. A local…
Raiffeisen Bank will first roll out the services to small-scale customers who can invest as little as one euro in the country’s capital city of Vienna and the historic headquarters of the 97-year-old bank where most residents live. Austria’s financial landscape is gearing up for a major transformation as Raiffeisen Bank International announces the launch…
Santander has made this move while most big banks limit their exposure to decentralized blockchains and the cryptocurrencies running on them. Santander Private Banking International has announced plans to allow its high-net-worth Swiss clients a chance to trade crypto assets. The bank will offer these clients a chance to buy, sell, and hold two major…
Commerzbank, Germany’s fourth-largest bank, announced its become the first among its peers to secure the Crypto Custody License under Article 1 Section 1a Sentence 1 No 6 German Banking Act (KWG). The newly acquired license empowers Commerzbank to forge ahead in establishing a comprehensive range of digital asset services, with a specific emphasis on Bitcoin and…
tupungato We rate Bank of America (NYSE:BAC) as a buy as we notice the bank’s business model and solvency are still strong even in the context of permanent high interest rates. The reason behind the drop in the stock price might be associated with the deterioration of held-to-maturity assets, which were mostly acquired in 2020…
Phillips 66 (NYSE:PSX) Bank of America Energy Conference Conference Call November 14, 2023 4:00 PM ET Company Participants Timothy Roberts – EVP, Midstream & Chemicals Jeffrey Dietert – VP, IR Richard Harbison – EVP, Refining Conference Call Participants Doug Leggate – Bank of America Merrill Lynch Kalei Akamine – Bank of America Merrill Lynch Doug…
Walter Bibikow Shares of Oklahoma-based BancFirst (NASDAQ:BANF) have been relatively flat year-to-date, as a wave of potential issues continues to wash over the banking industry. Nevertheless, this ‘super community’ bank has still outperformed peers by a fairly wide margin this year – a continuation of a longer-term trend that has seen its stock compound nicely…
National Australia Bank Ltd (OTCPK:NABZY) Q4 2023 Earnings Conference Call November 8, 2023 6:30 PM ET Company Participants Sally Mihell – Head, IR Ross McEwan – Group CEO, MD & Director Nathan Goonan – Group CFO Conference Call Participants Andrew Triggs – JPMorgan Chase & Co. Jonathan Mott – Barrenjoey Andrew Lyons – Goldman Sachs…
DZ Bank’s current infrastructure makes it possible for the bank to take part in the exploratory phase of the ECB’s project testing the settlement of large-volume capital market transactions in central bank money. Germany’s third-largest bank DZ Bank has launched a blockchain-based platform for the processing and custody of crypto assets. The platform will cater…
The NBG will now commence the pilot stage and test the Ripple CBDC platform in a live environment to evaluate select use cases. The National Bank of Georgia (NBG) has chosen blockchain and crypto solutions provider Ripple as a technology partner in its Central Bank Digital Currency (CBDC) pilot project. The Digital Lari (GEL) project…