What's up with Rochdale Securities analyst Dick Bove?
Approximately a month after recommending investors sell the banking sector he had turned around and recommended a basket of banks to buy, including Bank of America (NYSE:BAC), Bank of New York Mellon (NYSE:BK), Flagstar Bancorp (NYSE:FBC), PNC Financial (NYSE:PNC), Capital One Financial (NYSE:COF), State Street(NYSE:STT), SunTrust(NYSE:STI), Northern Trust (NYSE:NTRS) and Synovus (NYSE:SNV).
Bove's thinking in his turnaround for some banks in the sector is a number of banks are selling below their franchise and liquidation values.
"At this moment liquidity and values are more compelling than the next disaster," Bove wrote in a note to clients. The banks listed above are those identified by Bove as such.
Bove's operating definition of cash liquidation value is cash holdings (cash plus net Federal Reserve funds and repurchase agreements) in excess of tangible common equity.
Still, Bove confirms the issues banks face are still in place, and in that regard nothing has changed. They've apparently fallen quicker than Bove had anticipated.
Either that, or someone got hold of Bove and told him not to be so negative on the sector.
Showing posts with label Northern Trust. Show all posts
Showing posts with label Northern Trust. Show all posts
Wednesday, August 24, 2011
Friday, July 22, 2011
US Bancorp (USB) (HBI) (NTRS) (ST) (TCBI) (TWC) Price Targets Changed
US Bancorp (NYSE: USB), Hanesbrands (NYSE: HBI), Northern Trust Co. (NASDAQ: NTRS), Sensata Tech (NYSE: ST), Texas Capital (NASDAQ: TCBI) and Time Warner Cable (NYSE: TWC) had their price targets adjusted by analysts.
US Bancorp (USB) had its price target raised by Barclays Capital from $31.00 to $33.00. They have an “overweight” rating on the company.
Hanesbrands (HBI) had its price target raised by Barclays Capital from $30.00 to $35.00. They have an “equal weight” rating on the company.
Northern Trust Co. (NTRS) had its price target lowered by Barclays Capital from $65.00 to $60.00. They have an “equal weight” rating on the company.
Sensata Tech (ST) had its price target raised by Barclays Capital from $40.00 to $42.00. They have an “overweight” rating on the company.
Texas Capital (TCBI) had its price target raised by Barclays Capital from $26.00 to $28.00. They have an “equal weight” rating on the company.
Time Warner Cable (TWC) had its price target raised by Barclays Capital from $75.00 to $80.00. They have an “equal weight” rating on the company.
US Bancorp (USB) had its price target raised by Barclays Capital from $31.00 to $33.00. They have an “overweight” rating on the company.
Hanesbrands (HBI) had its price target raised by Barclays Capital from $30.00 to $35.00. They have an “equal weight” rating on the company.
Northern Trust Co. (NTRS) had its price target lowered by Barclays Capital from $65.00 to $60.00. They have an “equal weight” rating on the company.
Sensata Tech (ST) had its price target raised by Barclays Capital from $40.00 to $42.00. They have an “overweight” rating on the company.
Texas Capital (TCBI) had its price target raised by Barclays Capital from $26.00 to $28.00. They have an “equal weight” rating on the company.
Time Warner Cable (TWC) had its price target raised by Barclays Capital from $75.00 to $80.00. They have an “equal weight” rating on the company.
Monday, May 2, 2011
Dividend Yields for (FII) (NYX) (BLK) (SLM) (NTRS)
Indicated dividend yields for Standard & Poor's 500 Index companies Federated Investors Inc (FII), NYSE Euronext (NYX), BlackRock Inc (BLK), SLM Corp (SLM) and Northern Trust Corp (NTRS).
These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.
Federated Investors Inc (FII) has a dividend yield of 1.36 percent on a declared dividend of $3.73. The payout ratio is 72.6 percent.
NYSE Euronext (NYX) has a dividend yield of 3.00 percent on a declared dividend of $0.30. The payout ratio is 50.5 percent.
BlackRock Inc (BLK) has a dividend yield of 2.81 percent on a declared dividend of $1.38. The payout ratio is 46.4 percent.
SLM Corp (SLM) has a dividend yield of 2.41 percent on a declared dividend of $0.10. The payout ratio isna.
Northern Trust Corp (NTRS) has a dividend yield of 2.24 percent on a declared dividend of $0.28. The payout ratio is 44.9 percent.
These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.
Federated Investors Inc (FII) has a dividend yield of 1.36 percent on a declared dividend of $3.73. The payout ratio is 72.6 percent.
NYSE Euronext (NYX) has a dividend yield of 3.00 percent on a declared dividend of $0.30. The payout ratio is 50.5 percent.
BlackRock Inc (BLK) has a dividend yield of 2.81 percent on a declared dividend of $1.38. The payout ratio is 46.4 percent.
SLM Corp (SLM) has a dividend yield of 2.41 percent on a declared dividend of $0.10. The payout ratio isna.
Northern Trust Corp (NTRS) has a dividend yield of 2.24 percent on a declared dividend of $0.28. The payout ratio is 44.9 percent.
Tuesday, March 15, 2011
Banking Stocks (BAC) (C) (JPM) (CMA) Crumble as Nikkei Descends
Banking stocks like Bank of America (NYSE:BAC), Citigroup (NYSE:C), Comerica (NYSE:CMA), Northern Trust (NASDAQ:NTRS), PNC Financial (NYSE:PNC), and Zions Bancorporation (NASDAQ:ZION) were all trading down today as the Nikkei Stock Average fell in response to another explosion at the Fukushima Dai-ichi nuclear power plant.
The KBW Bank Index (BKX) was at $51.46, down $0.66, or 1.27 percent, as of 12:32 PM EST.
Zions was trading at $22.56, down $0.54, or 2.34 percent. Citigroup was trading at $4.4350, down $0.1050, or 2.31 percent. Bank of America was at $13.95, falling $0.28, or 1.97 percent. Comerica was down to $37.30, falling $1.00, or 2.61 percent. PNC was at $61.52, down $1.04, or 1.66 percent. Northern Trust was down $49.84, dropping $0.71, or 1.40 percent.
The KBW Bank Index (BKX) was at $51.46, down $0.66, or 1.27 percent, as of 12:32 PM EST.
Zions was trading at $22.56, down $0.54, or 2.34 percent. Citigroup was trading at $4.4350, down $0.1050, or 2.31 percent. Bank of America was at $13.95, falling $0.28, or 1.97 percent. Comerica was down to $37.30, falling $1.00, or 2.61 percent. PNC was at $61.52, down $1.04, or 1.66 percent. Northern Trust was down $49.84, dropping $0.71, or 1.40 percent.
Friday, January 21, 2011
Northern Trust's (NASDAQ:NTRS) Forward Estimates Too High Says Jefferies (NYSE:JEF)
While Jefferies acknowledges Northern Trust (NASDAQ:NTRS) has a loyal shareholder base and solid capital ratios, they believe the company is too optimistic on their forward estimates.
Margins for Northern Trust are also under pressure, as lower LIBOR and loan modifications are shrinking them.
With no known catalysts to hang their hat on, Jefferies lowered their full year 2011 and full year 2012 EPS estimates from $3.20 and $3.80 to $2.95 and $3.60.
Jefferies maintains their "Hold" rating on Northern Trust (NTRS), which closed Thursday at $52.91, up $0.42, or 0.80 percent. Jefferies has a price target of $61 on Northern, increasing it from $58.
Margins for Northern Trust are also under pressure, as lower LIBOR and loan modifications are shrinking them.
With no known catalysts to hang their hat on, Jefferies lowered their full year 2011 and full year 2012 EPS estimates from $3.20 and $3.80 to $2.95 and $3.60.
Jefferies maintains their "Hold" rating on Northern Trust (NTRS), which closed Thursday at $52.91, up $0.42, or 0.80 percent. Jefferies has a price target of $61 on Northern, increasing it from $58.
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