Stocks got off to a moderately bearish start this morning, as investors and traders did not initially react well to the fact that there was little progress made in the ongoing political standoff in Washington over the weekend. However, the pessimistic feelings on Wall Street were rather tame early on in the day, and there was a reversal of sentiment as trading progressed. As such, the major indices finished in positive territory by the close.
Stocks on the Rise
Among the stocks in positive territory today were: ADT Corp (ADT), after the company named a new CFO; St. Jude Medical (STJ), on news that it has completed its merger with Nanostim; and Scotts Miracle-Gro (SMG), after it announced that it will be acquiring Tomcat, a consumer rodent control business.
10 Best Bank Stocks To Buy Right Now: HSBC Holdings PLC (HBC)
HSBC Holdings plc (HSBC), incorporated on January 1, 1959, is a global banking and financial services organizations. As of December 31, 2010, it provided a range of financial services to around 95 million customers through two customer groups, Personal Financial Services (PFS), including consumer finance, and Commercial Banking (CMB), and two global businesses, Global Banking and Markets (GB&M), and Global Private Banking (GPB). Its international network covers 87 countries and territories in six geographical regions; Europe, Hong Kong, Rest of Asia-Pacific, the Middle East, North America and Latin America. As of December 31, 2010, the Company had an international network of some 7,500 offices in 87 countries and territories in six geographical regions; Europe, Hong Kong, Rest of Asia-Pacific, the Middle East, North America and Latin America. PFS incorporates the Company’s consumer finance businesses, which include HSBC Finance Corporation (HSBC Finance). In April 2011, the Company closed its retail banking operation in Russia. In July 2011, the Company sold its unsecured written-off personal loan and credit card portfolio to J M Financial Asset Reconstruction Co. Pvt. Ltd. On May 20, 2012, HSBC Holdings PLC’s wholly owned subsidiary HSBC Bank USA, N.A. and other wholly owned subsidiaries, sold 195 retail branches to First Niagara Bank, N.A. (First Niagara). In May 2012, the Company’s 70.03% owned subsidiary, HSBC Bank Malta plc, sold its card acquiring business to HSBC Merchant Services Ltd. In June 2012, the Company’s indirect wholly owned subsidiary, HSBC Iris Investments (Mauritius) Ltd, sold its 4.73% interest in Axis Bank Limited and 4.74% interest in Yes Bank Limited. In July 2012, its subsidiary, HSBC Europe (Netherlands B.V.), sold its 100% interest in HSBC Credit Zrt, to CentralFund Kockazati Tokealap. On March 31, 2013, Enstar Group Ltd’s subsidiary completed the acquisition from Household Insurance Group Holding Company of HSBC Insurance Company of Delaware and Household Life Insur! ance Company of Delaware, as well as its three subsidiary insurers.
The Company’s principal banking operations in Europe are HSBC Bank plc in the United Kingdom, HSBC France, HSBC Bank A.S. in Turkey, HSBC Bank Malta p.l.c., HSBC Private Bank (Suisse) S.A. and HSBC Trinkaus & Burkhardt AG. Through these operations it provides a range of banking, treasury and financial services to personal, commercial and corporate customers across Europe. HSBC’s banking subsidiaries in Hong Kong are The Hongkong and Shanghai Banking Corporation Limited and Hang Seng Bank Limited.
The Company offers a range of banking and financial services in the People’s Republic of China, mainly through its local subsidiary, HSBC Bank (China) Company Limited. It also participates indirectly in the People’s Republic of China through its four associates. Outside Hong Kong and the People’s Republic of China, it conducts business in 22 countries and territories in the Rest of Asia-Pacific region, through branches and subsidiaries of The Hongkong and Shanghai Banking Corporation, with coverage in Australia, India, Indonesia, Malaysia and Singapore.
In the Middle East, the Company has network of branches of HSBC Bank Middle East Limited, together with HSBC’s subsidiaries and associates. Its North American businesses are located in the United States, Canada and Bermuda. Operations in the United States are conducted through HSBC Bank USA, N.A., which is concentrated in New York State, and HSBC Finance, a national consumer finance company based near Chicago. HSBC Markets (USA) Inc. is the intermediate holding company of, inter alia, HSBC Securities (USA) Inc. HSBC Bank Canada and HSBC Bank Bermuda operate in their respective countries.
The Company’s operations in Latin America consists of HSBC Bank Brasil S.A.-Banco Multiplo, HSBC Mexico, S.A., HSBC Bank Argentina S.A. and HSBC Bank (Panama) S.A. In addition to bankin g services, it operates insurance businesses in Brazil, Mexi! co, Argen! tina, Panama and a range of smaller markets.
Personal Financial Services
PFS offers the Company’s products and services to customers based on their individual needs. Premier and Advance services are for customers who value international connectivity and benefit from its global reach and scale. It offers a range of banking products and services reflecting local requirements. In addition, it issues card globally, offering HSBC branded cards, co-branded cards with selected partners and private label (store) cards. Its customer offerings include personal banking products, including current and savings accounts, mortgages and personal loans, credit cards, debit cards and local and international payment services, and wealth management services, including insurance and investment products and financial planning services.
HSBC Premier provides preferential banking services to high net worth customers and their immediate families with a rela tionship manager, wealth advice and solutions. Customers can access emergency travel assistance, telephone banking and an online global view of their Premier accounts globally with free money transfers between them. HSBC Advance provides a range of preferential products and services customized to meet local needs. With a telephone service, access to wealth advice and online tools to support financial planning, it gives customers an online global view of their Advance accounts with money transfers between them. Wealth Solutions & Financial Planning process designed for global individual customer needs to help its clients to protect, grow and manage their wealth through investment and wealth insurance products manufactured by in-house partners, including Global Asset Management, Global Markets and HSBC Insurance, and by selected third party providers. During 2010, PFS provided 92 million individual and self-employed customers with financial services in over 60 markets globally .
The Company ! segments ! its CMB business into Corporate, to serve both Corporate and Mid-Market companies, and Business Banking, to serve the small and medium-sized enterprises (SME’s) sector. It provides support to companies as they expand both domestically and internationally, and ensures a focus on the business banking segments. It offers a range of financing, both domestic and cross-border, including overdrafts, receivables finance, term loans and syndicated, leveraged, acquisition and project finance. Asset finance is offered in selected sites, focused on leasing and instalment finance for vehicles, plant and equipment. It is a provider of domestic and cross-border payments and collections, liquidity management and account services globally, delivered through its e-platform, HSBC net. It provides international trade products and services, to both buyers and suppliers, such as export finance, guarantees, documentary collections and forfeiting to improve efficiency and help mitigate risk throu ghout the supply chain.
CMB customers are volume users of its foreign exchange, derivatives and structured products. Capital markets & advisory is raising capital on debt and equity markets and provide advisory services. Commercial cards issuing helps customers enhance cash management, credit control and purchasing. Card acquiring services enable merchants to accept credit and debit card payments in person or remotely. CMB offers key person, employee benefits and a range of commercial risk insurance, such as property, cargo and trade credit. Direct channels include online and direct banking offerings, such as telephone banking, HSBCnet and Business Internet Banking.
Global Banking and Markets
GB&M provides tailored financial solutions to government, corporate and institutional clients and private investors globally. Managed as a global business, GB&M operates a long-term relationship management approach to build a understanding of clie nts’ financial requirements. Sector-focused client service! teams co! nsisting of relationship managers and product specialists develop financial solutions to meet individual client needs. GB&M is managed as four principal business lines: Global Markets, Global Banking, Global Asset Management and Principal Investments.
Global Markets operations consist of treasury and capital markets services. Products include foreign exchange; currency, interest rate, bond, credit, equity and other derivatives; government and non-government fixed income and money market instruments; precious metals and exchange-traded futures; equity services; distribution of capital markets instruments, and securities services, including custody and clearing services and funds administration to both domestic and cross-border investors. Global Banking offers financing, advisory and transaction services. Its products include capital raising, advisory services, bilateral and syndicated lending, leveraged and acquisition finance, structured and project finance, le ase finance and non-retail deposit taking; international, regional and domestic payments and cash management services; and trade services for large corporate clients.
Global Asset Management offers investment solutions to institutions, financial intermediaries and individual investors globally. Principal Investments includes its relationships with third-party private equity managers and other investments. GB&M is a global business, which provides financial solutions to government, corporate and institutional clients globally.
Global Private Banking
GPB works with the Company’s high net worth clients to offer ways to manage and preserve wealth. HSBC Private Bank is the principal marketing name of its international private banking business, GPB. GPB works with its clients to offer both ways to manage and preserve wealth while optimising returns. GPB accesses six advisory centers in Hong Kong, Singapore, Geneva, New York, Paris and Lon don. Private Banking services consist of multi-currency depo! sit accou! nts and fiduciary deposits, credit and specialist lending, treasury trading services, cash management, securities custody and clearing. GPB works to ensure that its clients have access to other products and services available in HSBC, such as credit cards, Internet banking, corporate banking and investment banking.
Private Wealth Management consists of both advisory and discretionary investment services. A range of investment vehicles is covered, including bonds, equities, derivatives, options, futures, structured products, mutual funds and alternatives (hedge funds, private equity and real estate). Corporate Finance Solutions helps provide clients with solutions for their companies, working in conjunction with GB&M. Private Wealth Solutions consist of planning, trustee and other fiduciary services to protect wealth and preserve it for future generations. Its expertise includes trusts, foundation and company administration, charitable trusts and foundations, in surance, family office advisory and philanthropy.
The Company’s Other contains the results of certain property transactions and unallocated investment activities. It also includes centrally held investment companies, movements in fair value of own debt, HSBC’s holding company and financing operations.
- [By Sara Sjolin]
Banks posted some of the biggest gains in London, with Barclays PLC (UK:BARC) (BCS) up 1.6%, Royal Bank of Scotland Group PLC (UK:RBS) (RBS) rising 1.1% and sector heavyweight HSBC Holdings PLC (UK:HSBA) (HBC) (HK:5) 0.7% higher.
- [By Sara Sjolin]
Banks were among major decliners, playing a part in dragging the FTSE 100 index lower. Shares of Barclays PLC (UK:BARC) (BCS) fell 2.7%, Royal Bank of Scotland Group PLC (UK:RBS) (RBS) dropped 2.9%, Lloyds Banking Group PLC (UK:LLOY) (LYG) gave up 2.3% and sector heavyweight HSBC Holdings PLC (UK:HSBA) (HBC) (HK:5) erased 1.3%.
- [By Sara Sjolin]
Banks led the benchmark lower, with Société Générale SA (FR:GLE) down 2.1% in Paris, HSBC Holdings PLC (UK:HSBA) (HBC) (HK:5) off 1.4% in London, and Banco Santander SA (ES:SAN) (SAN) 1.6% lower in Madrid.
10 Best Bank Stocks To Buy Right Now: Washington Federal Inc (WAFD)
Washington Federal, Inc., incorporated on November 15, 1994, is a bank holding company, which conducts its operations through a federally-insured savings association subsidiary, Washington Federal (Bank). The Bank is a federal savings association. The business of the Bank consists of attracting deposits from the general public and investing these funds in loans of various types, including first lien mortgages on single-family dwellings, construction loans, land acquisition and development loans, loans on multi-family and other income producing properties, home equity loans and business loans. It also invests in United States government and agency obligations and other investments permitted by applicable laws and regulations. As of September 30, 2013, Washington Federal had 182 full service branches located in Washington, Oregon, Idaho, Arizona, Utah, Nevada, New Mexico and Texas. Through its subsidiaries, the Company is also engaged in real estate investment and insurance brokerage activities. The principal sources of funds for the Company’s activities are retained earnings, loan repayments (including prepayments), net deposit inflows, repayments and sales of investments and borrowings. Washington Federal’s principal sources of revenue are interest on loans and interest and dividends on investments. Its principal expenses are interest paid on deposits, credit costs, general and administrative expenses, interest on borrowings and income taxes. On October 31, 2012, South Valley Bancorp, Inc. merged with and into the Company, followed by the merger of South Valley’s wholly owned subsidiary, South Valley Bank & Trust, into the Bank.
As of September 30, 2013, the Company’s net portfolio of loans totaled $7.5 billion representing approximately 58% of its total assets. The Company concentrates its lending activities on the origination of 30-year, fixed-rate mortgage loans, which are neither insured nor gu aranteed by agencies of the United States government. Washin! gton Federal’s lending activity is concentrated on the origination of loans secured by real estate, including long-term fixed-rate mortgage loans, adjustable-rate construction loans, adjustable-rate land development loans, fixed-rate multi-family loans and business loans.
The Company’s lending activity is the origination of real estate mortgage loans to purchase or refinance single-family residences. The Company also originates a range of construction and land development loans, along with multi-family residential and commercial loans. As of September 30, 2013, single-family residential loans totaled $5.4 billion, or 67.2% of the Company’s gross loan portfolio; construction- speculative loans totaled$131 million, or 1.6% of the Company’s gross loan portfolio; construction – custom loans totaled $303 million, or 3.8% of the Company’s gross loan portfolio; land acquisition and development loans totaled $82 million, or 1.0% of the Company’s gross loan portfolio; la nd – consumer lot loans totaled $125 million, or 1.6% of the Company’s gross loan portfolio; multi-family loans totaled $836 million, or 10.5% of the Company’s gross loan portfolio; commercial real estate loans totaled $625 million, or 7.8% of the Company’s gross loan portfolio; commercial and industrial loans totaled $326 million, or 4.1% of the Company’s gross loan portfolio; home equity line of credit (HELOC) loans totaled $134 million, or 1.7% of the Company’s gross loan portfolio and consumer loans totaled $55 million, or 0.7% of the Company’s gross loan portfolio.
The Company originates 30 year fixed-rate loans secured by single-family residences. The Company originates construction loans to finance construction of single-family and multi-family residences, as well as commercial properties. Loans made to individuals for construction of their home generally are 30 year fixed rate loans. Multi-family residential (five or more dwelling units) loans are secure d by multi-family rental properties, such as apartment build! ings.
The Company makes various types of business loans to customers in its market area for working capital, acquiring real estate, equipment or other business purposes, such as acquisitions. The terms of these loans range from less than one year to a maximum of 10 years. Consumer loans are home improvement loans made through third party originators that bear interest at rates of 10% and higher.
As a federal association, the Bank is obligated to maintain adequate liquidity and does so by holding cash and cash equivalents and by investing in securities. These investments include, among other things, certain certificates of deposit, repurchase agreements, bankers’ acceptances, loans to financial institutions whose deposits are federally-insured, federal funds, United States government and agency obligations and mortgage-backed securities.
Sources of Funds
Deposits are the source of the Company’s funds for use in lending and other general business purposes. In addition to deposits, Washington Federal derives funds from loan repayments, advances from the Federal Home Loan Bank (FHLB) and other borrowings and from investment repayments and sales. The Company’s deposits are obtained from residents of Washington, Oregon, Idaho, Arizona, Utah, Nevada, New Mexico and Texas. The Company obtains advances from the FHLB upon the security of the FHLB capital stock it owns and certain of its loans, provided certain standards related to credit worthiness have been met. The Company also uses reverse repurchase agreements as a form of borrowing. Under reverse repurchase agreements, the Company sells an investment security to a dealer for a period of time and agrees to buy back that security at the end of the period and pay the dealer a stated interest rate for the use of the dealer’s funds. The Company also offers two forms of repurchase agreements to its customers. One form has an interest rate, which floats like that of a money market d! eposit ac! count. The other form has a fixed rate and is offered in a minimum denomination of $100,000. Both forms are fully collateralized by securities. As of September 30, 2013, the Company had $46.1 million of such agreements outstanding.
- [By Eric Volkman]
Washington Federal (NASDAQ: WAFD ) is keeping its dividend level even as it effects a corporate transformation by the end of next month. The company has declared a quarterly distribution of $0.09 per share, to be paid on July 19 to shareholders of record as of July 5. That amount matches the firm’s previous distribution, which was paid in April. Prior to that, it handed out a penny less at $0.08 per share.
- [By Brian Pacampara]
What: Shares of financial holding company Washington Federal (NASDAQ: WAFD ) climbed as high as 10% today after its quarterly results topped Wall Street expectations.
10 Best Bank Stocks To Buy Right Now: National Bank of Greece SA (NBGA)
National Bank of Greece SA (the Bank) is a Greece-based financial institution. It provides a range of financial services including retail and commercial banking, asset management, brokerage, investment banking, insurance and real estate at a global level. Its segments are: Retail Banking, which mainly offers different types of loans, deposits and investment products; Corporate and Investment Banking, which includes financial and investment advisory services, deposit accounts, loans, foreighn exchange and trade service activities; Global Markets and Asset Management, which includes all treasury activities, private banking, asset management, custody services, private equity and brokerage; Insurance; International Banking Operations; Turkish Banking Operations, as well as Other. In September 2013, state-owned Hellenic Financial Stability Fund acquired an 84.39% interest in the Company. On December 30, 2013, it sold a 66% of its subsidiary National Pangaea REIC to Invel Real Esta te II BV. Advisors’ Opinion:
- [By codyeustice1@google]
National Bank of Greece (ETE),(NBGA),(NBG) is a Greece global banking and financial service company with its headquarters in Athens, Greece. The bank offers financial products, and services, brokerage, insurance, asset management, shipping finance, leasing and factoring markets. It was founded by Swiss banker Jean-Gabriel Eynard and George Starvros in 1841 as a commerical bank. From its inception until the establishment of the Bank of Greece in 1928, it had the right to issue banknotes. The bank listed on the Athens Stock Exchange right after its founding in the 1880s.
10 Best Bank Stocks To Buy Right Now: BB&T Corp (BBT)
BB&T Corporation (BB&T) is a financial holding company. BB&T conducts its business operations primarily through its commercial bank subsidiary, Branch Banking and Trust Company (Branch Bank), which has offices in North Carolina, Virginia, Florida, Georgia, Maryland, South Carolina, Alabama, West Virginia, Kentucky, Tennessee, Texas, Washington D.C and Indiana. In addition, BB&T’s operations consist of a federally chartered thrift institution, BB&T Financial, FSB (BB&T FSB), and a number of nonbank subsidiaries, which offer financial services products. BB&T’s operations are divided into six business segments: Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services, and Financial Services. Branch Bank provides a range of banking and trust services for retail and commercial clients in its geographic markets, including small and mid-size businesses, public agencies, local Governments and individuals, through 1,779 offices as of December 31, 2011. During the year ended December 31, 2011, BB&T announced the acquisitions of Liberty Benefit Insurance Services, Atlantic Risk Management Corporation and the Precept Group. In April 2012, it acquired the life and property and casualty insurance operating divisions of Roseland, New Jersey – based Crump Group Inc. On July 31, 2012, it acquired BankAtlantic.
As of December 31, 2011, the principal operating subsidiaries of BB&T included Branch Banking and Trust Company, Winston-Salem, North Carolina; BB&T Financial, FSB, Columbus, Georgia; Scott & Stringfellow, LLC, Richmond, Virginia; Clearview Correspondent Services, LLC, Richmond, Virginia; Regional Acceptance Corporation, Greenville, North Carolina; American Coastal Insurance Company, Davie, Florida, and Sterling Capital Management, LLC, Charlotte, North Carolina. Branch Bank’s principal operating subsidiaries include BB&T Equipment Finance Corporation, BB&T Investment Services , Inc., BB&T Insurance Services, Inc., Stanley, Hunt, DuPree! & Rhine (a division of Branch Bank), Prime Rate Premium Finance Corporation, Inc., Grandbridge Real Estate Capital, LLC, Lendmark Financial Services, Inc., CRC Insurance Services, Inc. and McGriff, Seibels & Williams, Inc.
BB&T’s Community Banking serves individual and business clients by offering a range of loan and deposit products and other financial services. As of December 31, 2011, Community Banking had a network of 1,779 banking.
Residential Mortgage Banking
Residential Mortgage Banking segment retains and services mortgage loans originated by Community Banking, as well as those purchased from various correspondent originators. Mortgage loan products include fixed and adjustable rate Government and conventional loans for the purpose of constructing, purchasing or refinancing residential properties. Substantially all of the properties are owner occupied. BB&T retains the servicing rights to all loans sold. Residential Mortgage Banking earns interest on loans held in the warehouse and portfolio, fee income from the origination and servicing of mortgage loans and recognizes gains or losses from the sale of mortgage loans. BB&T’s mortgage originations totaled $23.7 billion in 2011. BB&T’s residential mortgage servicing portfolio, which includes both retained loans and loans serviced for third parties, totaled $91.6 billion in 2011.
Dealer Financial Services
Dealer Financial Services originates loans to consumers on a prime and nonprime basis for the purchase of automobiles. Such loans are originated on an indirect basis through approved franchised and independent automobile dealers throughout the BB&T market area and nationally through Regional Acceptance Corporation. This segment also originates loans for the purchase of boats and recreational vehicles originated through dealers in BB&T’s market area. In addition, financing and servi cing to dealers for their inventories is provided through a ! joint rel! ationship between Dealer Financial Services and Community Banking.
BB&T’s Specialized Lending consists of eight business units that provide specialty finance products to consumers and businesses. The internal business units include Commercial Finance that contains commercial finance and mortgage warehouse lending; and, Governmental Finance that is responsible for tax-exempt Government finance. Operating subsidiaries include BB&T Equipment Finance which provides equipment leasing within BB&T’s banking footprint; Sheffield Financial, a division of FSB Financial, a dealer-based financer of equipment for both small businesses and consumers; Lendmark Financial Services, a direct consumer finance lending company; Prime Rate Premium Finance Corporation, which includes AFCO and CAFO, insurance premium finance business units that provide funding to businesses in the United States and Canada and to consumers in certain markets within BB&T’s banking footprint, and Grandbridge Real Estate Capital, a commercial mortgage banking lender providing loans on a national basis.
BB&T Insurance Services provides property and casualty, life and health insurance to businesses and individuals. It also provides small business and corporate products, such as workers compensation and professional liability, as well as surety coverage and title insurance. In addition, Insurance Services also underwrites a limited amount of property and casualty coverage.
Financial Services provides personal trust administration, estate planning, investment counseling, wealth management, asset management, employee benefits services, corporate banking and corporate trust services to individuals, corporations, institutions, foundations and Government entities. Financial Services also offers clients investment alternatives, including discount broker age services, equities, fixed-rate and variable-rate annuiti! es, mutua! l funds and governmental and municipal bonds through BB&T Investment Services, Inc., a subsidiary of Branch Bank. Financial Services includes Scott & Stringfellow, LLC, a brokerage and investment banking firm. Scott & Stringfellow provides services in retail brokerage, equity and debt underwriting, investment advice, corporate finance and equity research and facilitates the origination, trading and distribution of fixed-income securities and equity products in both the public and private capital markets. Scott & Stringfellow also has a public finance department that provides investment banking services, financial advisory services and municipal bond financing. Scott & Stringfellow’s investment banking and corporate and public finance areas conduct business as BB&T Capital Markets. This segment includes BB&T Capital Partners that is a group of BB&T-sponsored private equity and mezzanine investment funds that invest in privately owned middle-market operating companies. Finan cial Services also includes the Corporate Banking Division that originates and services corporate relationships, syndicated lending relationships and client derivatives.
- [By John Maxfield]
While it’s not obvious from the chart, you can separate these institutions into three different buckets. The first bucket concerns the most widely discussed too-big-to-fail banks: JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo. Then comes the unofficial too-big-to-fail lenders (those with assets in excess of $50 billion and thus subject to the Federal Reserve’s more stringent stress test process). This group contains U.S. Bank (NYSE: USB ) , PNC Financial (NYSE: PNC ) , and BB&T Bank (NYSE: BBT ) , among others. And the final group encompasses lesser-known banks like First Niagara Financial (NASDAQ: FNFG ) and People’s United Financial (NASDAQ: PBCT ) with between $20 billion and $50 billion in assets.
- [By Eric Volkman]
BB&T (NYSE: BBT ) is keeping its common stock dividend policy steady. The company has declared a quarterly distribution of $0.23 per share to be paid on June 3 to shareholders of record as of May 10. This amount matches that of the previous payout, which was distributed in February, but is 15% higher than the year-ago disbursement of $0.20 per share.
10 Best Bank Stocks To Buy Right Now: Greenhill & Co Inc (GHL)
Greenhill & Co., Inc. (Greenhill), incorporated on March 10, 2004, is an independent investment bank focused on providing financial advice on mergers, acquisitions, restructurings, financings and capital raising to corporations, partnerships, institutions and governments. The Company acts for clients located throughout the world from its offices in the United States, United Kingdom, Germany, Canada, Japan, Australia and Sweden. The Company provides advisory services primarily in connection with mergers and acquisitions, financings, restructurings, and capital raisings. On merger and acquisition engagements, it provide a broad range of advice to global clients in relation to domestic and cross-border mergers, acquisitions, and similar corporate finance matters and are generally involved at each stage of these transactions, from initial structuring to final execution. It advises client’s matters, including acquisitions, divestitures, defensive tactics, special committee pr ojects and other important corporate events. It also provides advice on valuation, tactics, industry dynamics, structuring alternatives, timing and pricing of transactions, and financing alternatives.
In the Company’s financing advisory and restructuring practice, the Company advise debtors, creditors, governments, other stakeholders and companies experiencing financial distress as well as potential acquirers of distressed companies and assets. It provides advice on valuation, restructuring alternatives, capital structures, financing alternatives, and sales or recapitalizations. The Company also assists those clients who seek court-assisted reorganizations by developing and seeking approval for plans of reorganization as well as the implementation of such plans. In its private capital and real estate capital advisory business the Company assists fund managers and sponsors in raising capital for new funds and provide related advisory services to private equity and real estate funds and other organizations globally. It ! also advises on secondary transactions.
The Company competes with America Corporation, Barclays Bank PLC, Citigroup Inc., Credit Suisse, Deutsche Bank AG, Goldman Sachs Group, Inc., JPMorgan Chase & Co., Morgan Stanley, UBS A.G., Evercore Partners Inc., Jefferies Group, Inc., Lazard Ltd., Credit Suisse and Park Hill.
- [By Mark Hulbert]
The stocks are C.H. Robinson Worldwide (CHRW) , a freight-transportation company; chip maker Cirrus Logic (CRUS) ; independent oil company Forest Oil (FST) ; investment bank Greenhill & Co. (GHL) ; Intrepid Potash (IPI) , a fertilizer company; retailer J.C. Penney (JCP) ; Quest Diagnostics (DGX) , a medical diagnostic company; Strayer Education (STRA) , a for-profit college; Tower Group International (TWGP) , an insurance company; and Windstream Holdings (WIN) , a rural telecommunications firm.
- [By Matt Koppenheffer and David Hanson]
An article in Financial Times came out suggesting that smaller investment banks, such as Greenhill (NYSE: GHL ) or Lazard (NYSE: LAZ ) , might be workplaces that offer more options and flexibility for those pursuing a banking career. Will we start to see the best talent move away from Wall Street’s biggest banks to find the true opportunities? In the video, Matt tells us what effect this could have on big banking as a whole.
10 Best Bank Stocks To Buy Right Now: Deutsche Bank AG (DBK)
Deutsche Bank AG is a global investment bank. The Company offers a variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. The Company operates through such divisions as: Private and Business Clients, Asset and Wealth Management, Corporate Banking and Securities, Global Transaction Banking and Non-Core Operations Unit. Deutsche Bank AG is active domestically and in various countries, through the network of numerous branches. In February 2014, the Company and its related bodies corporate ceases to a share holder in the capital of the Company. Advisors’ Opinion:
- [By Jonathan Morgan]
Bayer AG (BAYN) and BASF SE gained, following their European peers higher. Commerzbank AG (CBK), the country’s second-biggest lender, slid 3.7 percent. Deutsche Bank AG (DBK) dropped the most in more than a month after JPMorgan Chase & Co. downgraded the shares.
- [By Jonathan Morgan]
RWE AG (RWE), Germany’s second-largest utility, slipped 2.4 percent after RBC Capital Markets cut its recommendation on the stock. Lufthansa followed its European peers higher, recovering some of its Aug. 2 selloff. Xing AG (O1BC), the business social network, jumped the most since October as Deutsche Bank AG (DBK) upgraded its rating on the shares.
- [By Jonathan Morgan]
Deutsche Bank AG (DBK) lost 0.6 percent as a gauge of banks posted the largest drop of the 19 industry groups in the Stoxx Europe 600 Index. Deutsche Telekom AG (DTE) advanced 2.2 percent as a gauge of telecom companies rose the most on the Stoxx 600.
10 Best Bank Stocks To Buy Right Now: Westpac Banking Corp (WBK)
Westpac Banking Corporation (Westpac), incorporated on August 23, 2002, is a banking organization. Westpac provides a range of banking and financial services, including retail, business and institutional banking, and wealth management services. It operates through three divisions: Australian Financial Services (AFS), Westpac Institutional Bank (WIB) and Westpac New Zealand. AFS encompasses Westpac’s retail and business banking operations in Australia, and includes the businesses of Westpac Retail & Business Banking, St.George Banking Group and BT Financial Group Australia (BFTG). Westpac RBB is responsible for sales and service for Westpac’s consumer, small-to-medium enterprise customers and commercial customers in Australia under the Westpac brands. St.George is responsible for sales, and service for its consumer, business and corporate customers in Australia under the St.George, BankSA, Bank of Melbourne and RAMS brands. BTFG is Westpac’s Australian wealth manageme nt division. WIB delivers a range of financial services to commercial, corporate, institutional and government customers with connections to Australia and New Zealand. Westpac New Zealand is responsible for the sales and service of banking, wealth and insurance products for consumers, business and institutional customers in New Zealand. In January 2014, the Company completed the acquisition of Lloyds Banking Group Plc’s Australian asset finance business, Capital Finance Australia Limited, and its Australian corporate loan portfolio, BOS International (Australia) Ltd.
Westpac RBB’s activities are conducted through its network of branches and business banking centers, home finance managers (HFMs) and specialized consumer and business relationship managers, with the support of cash flow, financial markets and wealth specialists, customer service centers, automated teller machines (ATMs) and Internet channels.
Consumer activities are conducted through a networ! k of branches, third party distributors, call centers, automated teller machines (ATMs), electronic funds transfer point-of-sale (EFTPOS) terminals and Internet banking services. Business and corporate customers are provided with a range of banking and financial products and services, including specialist advice for cash flow finance, trade finance, automotive and equipment finance, property finance, transaction banking and treasury services. Sales and service activities for business and corporate customers are conducted by relationship managers through business banking centers, Internet and customer service centre channels.
BTFG’s funds management operations include the manufacturing and distribution of investment, superannuation and retirement products; investment platforms, such as Wrap and Master Trusts, and private banking and financial planning. Its Insurance solutions cover the manufacturing and distribution of life, general and lender s mortgage insurance. BTFG’s brands include Advance Asset Management, Ascalon, Asgard, BT, BT Investment Management (64.5% owned by Westpac), BT Select, Licensee Select, Magnitude, Securitor and the advice, private banking and insurance operations of Bank of Melbourne, BankSA, St.George and Westpac.
Westpac Institutional Bank (WIB)
WIB operates through industry relationship and specialist product teams, with knowledge in transactional banking, financial and debt capital markets, specialised capital, margin lending, broking and alternative investment solutions. Customers are supported through branches and subsidiaries located in Australia, New Zealand, the United States, United Kingdom and Asia.
Westpac New Zealand
Westpac conducts its New Zealand banking business through two banks in New Zealand; Westpac New Zealand
Limited, and Westpac Banking Corporation. Westpac New Zealand operates through network of branches a nd ATMs across both the North and South Islands. Business an! d institu! tional customers are served through relationship and specialist products teams. Banking products are provided under the Westpac and WIB brands, while insurance and wealth products are provided under Westpac Life and BT brands.
Westpac’s other business divisions includes Pacific Banking, which provides banking services for retail and business customers in seven Pacific countries. Branches, ATMs, telephone banking and Internet banking channels are used to deliver its business activities in Fiji, Papua New Guinea, Vanuatu, Cook Islands, Tonga, Solomon Islands and Samoa. Pacific Banking’s financial products include personal savings accounts, business transactional accounts, personal and business lending products, business services and a range of international products; Group Services which include technology, banking operations, legal and property services; Treasury which focuses on management of the Group’s interest rate risk and funding requirements, and Cor e Support which include functions performed centrally including finance, risk and human resources.
- [By Fede Zaldua]
Most Australian banks seem to comply with (1) and (2). On the other hand, Australian banks have a loan to deposit ratio of 120% and around 9% of their funding is short term foreign funding. This means that their results shall be severely damaged by a steep depreciation of the local currency. A good example of a bank that is easy to short from the US (since it trades in the New York Stock Exchange) is the Westpac Banking Corporation (WBK). Westpac generates 90% of its revenues domestically and sells for 2014 13.1 times earnings and 2.1 times its 2014 expected book value. That said, there is one problem that you will find when you short Westpac’s shares: The bank pays a +5% cash dividend yield.
- [By Selena Maranjian]
More than a handful of international companies had strong performances over the past year. Australia-based Westpac Banking (NYSE: WBK ) , for example, soared 54% — and still yields a fat 5.4%. It’s been hampered, though, by the slowdown in China, as China uses many commodities produced by Australia. Some worry about a housing slowdown hurting the company, too.
10 Best Bank Stocks To Buy Right Now: Flagstar Bancorp Inc (FBC)
Flagstar Bancorp, Inc. incorporated on October 28, 1993, is a savings and loan holding company. The Company’s business is primarily conducted through its principal subsidiary, Flagstar Bank, FSB (the Bank), a federally chartered stock savings bank. At December 31, 2012, its total assets were $ $14.1 billion. The Bank’s wholly owned subsidiary is Flagstar Capital Markets Corporation (FCMC). The Company operates in two segments: Community Banking and Mortgage Banking. The Community Banking segment offers a line of financial products and services to individuals, small and middle market businesses, and mortgage lenders. Its Mortgage Banking segment originates, acquires, sells and services residential first mortgage loans on one-to-four family residences. The Bank’s Other segment include corporate treasury, tax benefits not assigned to specific operating segments, and miscellaneous other expenses of a corporate nature.
Communit y Banking segment includes Branch Banking, Commercial and Business Banking, Government Banking, and Warehouse Lending. Community Banking segment originates loans and deposits to consumer, business and mortgage lending customers through its Branch Banking, Business and Commercial Banking, Government Banking, and Warehouse Lending groups. Products offered include checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, commercial loans and warehouse lines of credit. Other financial services available to consumer and commercial customers include lines of credit, revolving credit, customized treasury management solutions, equipment leasing, inventory and accounts receivable lending and capital markets services such as interest rate risk protection products. At December 31, 2012, Branch Banking included 111 banking centers located throughout Michigan. As of December 31, 2012, the commercial loans held-for-investment totaled $0.7 billion , and consisted of commercial real estate, commercial and in! dustrial and commercial lease financing. At December 31, 2012, its commercial real estate loans held-for-investment totaled $640.3 million.
Commercial and industrial held-for-investment loan facilities include lines of credit to its small or middle market businesses for use in normal business operations to finance working capital needs, equipment purchases and expansion projects. At December 31, 2012 its commercial and industrial held-for-investment loans totaled $90.6 million. Its commercial lease financing held-for-investment loan portfolio is comprised of equipment leased to customers in a direct financing lease. At December 31, 2012 its commercial lease financing held-for-investment loans totaled $6.3 million. The Company offers warehouse lines of credit to other mortgage lenders. As of December 31, 2012, there were 311 warehouse lines of credit to other mortgage lenders with an average size of $7.5 million.
The Co mpany’s Mortgage Banking segment originates, acquires, sells and services one-to-four family residential first mortgage loans. Mortgage loans are originated through home lending centers, national call centers, the Internet, unaffiliated banks and mortgage brokerage companies. Also, the Mortgage Banking segment services mortgage loans for others and sells MSRs into the secondary market.
In a home lending center transaction, loans are originated through a network of its loan origination centers, as well as referrals from its Banking segment and the national call center. At December 31, 2012, the Company maintained 31 loan origination centers. In a broker transaction, an unaffiliated bank or mortgage brokerage company completes the loan paperwork, but the loans are underwritten on a loan-level basis to its underwriting standards and it supplies the funding for the loan at closing thereby becoming the lender of record. As of December 31, 2012, the Company had acti ve broker relationships with over 1,700 banks, credit unions! , and mor! tgage brokerage companies. In a correspondent transaction, an unaffiliated bank or mortgage company completes the loan paperwork and also supplies the funding for the loan at closing. As of December 31, 2012, the Bank had active correspondent relationships with over 1,300 companies, including banks, credit unions, and mortgage companies.
- [By Jessica Alling]
Outside the Dow, insurer MBIA (NYSE: MBI ) is up 11.3% after settling a legal case with lender Flagstar Bancorp (NYSE: FBC ) over two mortgage-backed securities transactions. MBIA alleged that Flagstar misrepresented the securities, resulting in the insurer’s payout of $165 million on the policies. Flagstar has agreed to pay MBIA $110 million to settle the case. This legal dispute is similar to the current battle between MBIA and Bank of America. The insurer recently lost its bid for a pretrial ruling on the case, driving the stock lower.
- [By Brian Pacampara]
What: Shares of mortgage insurer MBIA (NYSE: MBI) climbed 10% today after settling its lawsuit against Flagstar Bancorp (NYSE: FBC), in which it accused the bank of misrepresenting the loan quality underlying $1.1 billion in mortgage-backed securities.
10 Best Bank Stocks To Buy Right Now: Simmons First National Corp (SFNC)
Simmons First National Corporation is a multi-bank financial holding company. As of December 31, 2011, the Company had total loans of $1.7 billion, deposits of $2.7 billion and equity capital of $408 million. As of December 31, 2011, it owned eight community banks, which are located throughout Arkansas and conduct its operations through 88 offices, of which 84 are branches, or financial centers, located in 47 communities in Arkansas, Missouri and Kansas. Its community banks are supported by its subsidiary bank, Simmons First National Bank (SFNB or lead bank), which allows its community banks to provide products and services, such as a bank-issued credit card. As of December 31, 2011, SFNB had total loans of $0.9 billion and total deposits of $1.5 billion. Simmons First Trust Company N.A., a wholly owned subsidiary of SFNB, performs the trust and fiduciary business operations for SFNB and for the Company. Simmons First Investment Group, Inc., a wholly owned subsidiary of SF NB, is a broker-dealer and performs the broker-dealer operations for SFNB. Its subsidiary banks provide complete banking services to individuals and businesses throughout the market areas they serve. These banks offer consumer (credit card and other consumer), real estate (construction, single family residential and other commercial) and commercial (commercial, agriculture and financial institutions) loans, checking, savings and time deposits, trust and investment management services and securities and investment services. In September 2012, through its wholly owned bank subsidiary, Simmons First National Bank (SFNB), it acquired assets of Truman Bank of St. Louis from the Federal Deposit Insurance Corporation (the FDIC). In October 2012, SFNB acquired Excel Bank of Sedalia from the Federal Deposit Insurance Corporation. In November 2013, the Company acquired Metropolitan National Bank. Efffective November 25, 2013, the Company acquired Rogers Bancshares Inc.
Le nding Activities
During the year ended December! 31, 2011, the Company’s loan portfolio, excluding loans covered by Federal Deposit Insurance Corporation (FDIC) loss share arrangements, averaged $1.621 billion. As of December 31, 2011, total loans, excluding loans covered by FDIC loss share arrangements, were $1.580 billion. The components of the loan portfolio were loans to businesses (commercial loans, commercial real estate loans and agricultural loans) and individuals (consumer loans, credit card loans and single-family residential real estate loans).
Consumer loans consist of credit card loans, student loans and other consumer loans. As of December 31, 2011, consumer loans were $346.6 million or 21.9% of total loans. As of December 31, 2011, the student loan portfolio balance was $47.4 million. As of December 31, 2011, student loans were 3% of total loans. Real estate loans consist of construction loans, single family residential loans and commercial loans. As of December 31, 2011, real estate loans we re $1.001 billion or 63.4% of total loans. As of December 31, 2011, its construction and development (C&D) loans represent 7% of its loan portfolio and commercial real estate (CRE) loans (excluding C&D) represent 34% of its loan portfolio. Commercial loans consist of commercial loans and agricultural loans. As of December 31, 2011, commercial loans were $227.2 million or 14.4% of total loans.
Securities within the portfolio are classified as either held-to-maturity, available-for-sale or trading. Held-to-maturity securities include any security for which management has the positive intent and ability to hold until maturity, are carried at historical cost, adjusted for amortization of premiums and accretion of discounts. As of December 31, 2011, held-to-maturity and available-for-sale investment securities were $525.4 million and $172.2 million. As of December 31, 2011, $312.8 million, or 59.5%, of the held-to-maturity securit ies were invested in United States Treasury securities and o! bligation! s of the United States government agencies, 60.0% of which will mature in less than five years. In the available-for-sale securities, $153.6 million, or 89.2%, were in the United States Treasury and the United States government agency securities.
Sources of Fund
Deposits are the Company’s source of funding for earning assets and are developed through its network of 84 financial centers. It offers a range of products designed to attract and retain customers with a continuing focus on developing core deposits. Its core deposits consist of all deposits excluding time deposits of $100,000 or more and brokered deposits. As of December 31, 2011, core deposits comprised 86.5% of its total deposits. As of December 31, 2011, its total deposits were $2.65 billion. As of December 31, 2011, non-interest bearing transaction accounts were $532.3 million. As of December 31, 2011, interest bearing transaction and savings accounts were $1.240 billion. As of Decem ber 31, 2011, it had $20.6 million of brokered deposits.
As of December 31, 2011, Federal funds purchased and securities sold under agreements to repurchase were $114.8 million. As of December 31, 2011, its other short-term borrowings, consisting of the United States Treasury Tax and Loan (TT&L) Notes and short-term Federal Home Loan Bank (FHLB) borrowings were $272,000. As of December 31, 2011, its long-term debt was $120.8 million. As of December 31, 2011, the outstanding long-term debt balance includes $89.9 million in FHLB long-term advances and $30.9 million of trust preferred securities.
- [By Tim Melvin]
Finally, Simonds First National Corp. (Nasdaq: SFNC) is a Midwestern bank with 96 branches in Arkansas, Missouri, and Kansas. The stock has been strong this year, but CEO George Makris thinks there is additional upside ahead for the shares.
- [By CRWE]
Simmons First National Corporation (Nasdaq:SFNC) reported, through its wholly-owned bank subsidiary, Simmons First National Bank (“SFNB”), that it has expanded into the St. Louis, Missouri market by acquiring approximately $282 million in assets of Truman Bank of St. Louis from the Federal Deposit Insurance Corporation (the “FDIC”).
10 Best Bank Stocks To Buy Right Now: Calwest Bancorp (CALW)
CalWest Bancorp owns South County Bank, National Association. The Company is the holding company for South County Bank N.A. South County Bank operates in four divisions: business solutions, professional division, personal services and online banking. Business solutions are engaged in deposit services, cash management solutions and loan services. Professional division is engaged in physicians, dentists, veterinarians, attorneys and certified public accountants. Personal services include deposit services and loan services. Online banking includes personal login, cash management login, cash management demos and user resources.
Deposit services include analysis checking, unlimited checking, interest checking, money market savings, sweep accounts, zero balance accounting, payroll services and merchant card processing. Cash management services include eCorp online banking, remote deposit, electronic payments, positive pay, mobile ban king, cash vault and armored transport. Its loan services include business lines of credit, commercial term loans, commercial real estate loans, equipment loans, SBA financing, construction loans and accounts receivable financing.
Veterinarians provide deposit services, cash management services and lending services. Attorneys and certified public accountants also include deposit services, cash management services and lending services
Deposit services include online banking, checking, saving, money market, certified deposit and retirement accounts. Its loan services include overdraft protection, home equity lines and vehicle financing.
- [By CRWE]
Today, CALW remains (0.00%) +0.000 at $.370 thus far (ref. google finance 10:58AM EDT July 24, 2013).
CalWest Bancorp previously reported the consolidated financial results for the six months ended June 30, 2013. Significant items for the period ending June 30, 2013 include:
Quarterly net income of $50,000, compared to the previous quarter profit of $12,000;
No additional loan loss provision required; resulting in the allowance for loan loss (ALL) ratio decreasing slightly from 6.20% to 5.95%;
Total assets were flat at $144 million, with new business offsetting run-off;
Non-performing loans reduced significantly in 2013 by 41% quarter-over-quarter; and are down $1.9 million from a year ago;
Non-interest bearing deposits maintained at 35% of total deposits, helping reduce the Bank’s cost-of-deposits to 0.40% from 0.48% a year ago;
The increase in Net Interest Income offset the reduction in Non-Interest Income as increased focus is placed on core earnings;
Non-interest expenses continue to improve, decreasing 2% quarter-over-quartee