With shares of Exxon Mobil (NYSE:XOM) trading around $94, is XOM an OUTPERFORM, WAIT AND SEE, or STAY AWAY? Let’s analyze the stock with the relevant sections of our CHEAT SHEET investing framework:
T = Trends for a Stock’s Movement
Exxon Mobil is a manufacturer and marketer of commodity petrochemicals like olefins, aromatics, polyethylene, and polypropylene plastics, as well as a range of specialty products. The company has a number of divisions and affiliates with names that include ExxonMobil, Exxon, Esso, and Mobil, which operate or market products in the United States and other countries. Exxon Mobil’s principal business is energy, involving the exploration for and production of crude oil and natural gas; manufacture of petroleum products; and transportation and sale of crude oil, natural gas, and petroleum products.
Exxon Mobil Corp., the world’s largest publicly traded oil company by market value, posted lower-than-expected quarterly profit on Thursday as it failed to offset declining production with fresh reserves. Shares of Exxon fell nearly 2 percent to $93.28 in morning trading. The problem of declining production has become endemic for multinational energy groups, with legacy oil and natural gas wells producing much less. That has fueled massive and risky exploration projects in an attempt to find new wells in remote regions. Exxon’s oil and natural gas production fell 1.8 percent from year-ago levels, with natural gas production falling around the world and oil output slipping in half the regions where the company operates.
Top 10 Bank Companies To Invest In 2014: Raiffeisen Bank International AG (RBI)
Raiffeisen Bank International AG (RBI) is an Austria-based bank that focuses on corporate and retail banking sector. The Bank offers a range of products and consulting services, as well as market knowledge. The Bank’s products and solutions include financing, leasing, investing, hedging, trade & export finance, investment banking, cash management, payment services, custody & fund services, and cards, among others. RBI is organized into seven segments: the Central Europe segment encompassed the banking markets in the European Union countries in Central and Eastern Europe (CEE) region; the Southeastern Europe segment comprises Albania, Bosnia and Herzegovina, Bulgaria and Croatia, among others; the Commonwealth of Independent States (CIS) other segment comprises Belarus, Kazakhstan and Ukraine; the Group Corporates segment covers business with corporate customers of the Bank; the Group Markets segment covers capital market customers and business; Corporate Center, and Russia. Advisors’ Opinion:
- [By Rebecca Bundhun]
The Reserve Bank of India (RBI) recently banned banks from issuing loans under the “80:20 scheme”, which, through a three-way agreement between the lender, the developer, and the homebuyer, allowed the customer to pay 20% upfront, while the remainder of the loan would be issued to the developer, regardless of the stage of construction.
Top 10 Bank Companies To Invest In 2014: Ampco-Pittsburgh Corporation(AP)
Ampco-Pittsburgh Corporation and its subsidiaries manufacture and sell custom-engineered equipment in the United States and internationally. It operates in two segments, Forged and Cast Rolls, and Air and Liquid Processing. The Forged and Cast Rolls segment produces forged hardened steel rolls used in cold rolling for the producers of steel, aluminum, and other metals; and cast iron and steel rolls for hot and cold strip mills, medium/heavy section mills, and plate mills. The Air and Liquid Processing segment manufactures finned tube and plate finned heat exchange coils for the commercial and industrial construction, as well as for process and utility industries; custom air handling systems used in commercial, institutional, and industrial buildings; and a line of centrifugal pumps for the refrigeration, power generation, and marine defense industries. The company was founded in 1929 and is based in Pittsburgh, Pennsylvania.
- [By Tim Melvin]
Amco-Pittsburgh (AP) took a 5.5% hit in its stock price last week. The company is in some businesses that are very economically sensitive like cold rolling equipment for steel and aluminum manufacturers, heat-exchange equipment used in power generation and HVAC systems, and custom air handling systems that are used in commercial, institutional and industrial buildings.
- [By Andrea Kay]
In this picture provided by the Vatican newspaper L'Osservatore Romano, Pope Francis engages with his audience, speaking with a child during his three-hour visit Dec. 21, 2013, to Bambino Gesu' pediatric hospital in Rome.(Photo: AP)
- [By Mae Anderson] ATLANTA (AP) — Finding a knockoff version of the fur you want under the Christmas tree would ordinarily be a disappointment.
Not this year.
- [By Anita Bruzzese]
President Barack Obama embraces an unidentified woman Sept. 22, 2013, at a memorial service for the victims of the Washington Navy Yard shooting.(Photo: AP)
Top 10 Bank Companies To Invest In 2014: Orange County Business Bank (OCBB)
Orange County Business Bank is Orange County’s elite full-service commercial bank. The Company is a capitalized bank in Southern California.
The Company is serving the needs of businesses and professionals throughout Orange County. It offers relationship banking services for locally owned and operated businesses, professional practices, and commercial/industrial companies in Orange County and adjacent markets.
- [By CRWE]
Today, OCBB remains (0.00%) +0.000 at $7.15 thus far (ref. google finance Delayed: 2:07PM EDT August 1, 2013).
Orange County Business Bank previously reported financial results for the three months and six months ended June 30, 2013.
The Bank’s net income for the three months ended June 30, 2013 was $204 thousand versus a net loss of $47 thousand for the same period in 2012. The Bank reported net income for the first six months of 2013 of $649 thousand versus a net loss of $126 thousand for the same period in 2012.
The Bank’s net interest income for the three months ended June 30, 2013 was $1.4 million versus $1.1 million a year ago. The difference of $300 thousand in net interest income was primarily driven by an increase in the total loans outstanding. Net interest income for the six months ended June 30, 2013 was $2.6 million versus $2.4 million for the same period in 2012. The difference of $200 thousand was due to an increase in the total loans outstanding. The Bank continues to aggressively push into established and successful markets to develop profitable relationships. This push has resulted in the growth of loans, deposits and net interest income
Top 10 Bank Companies To Invest In 2014: 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.
- [By Tom Stoukas]
Deutsche Lufthansa AG (LHA) and Allianz SE (ALV) led airlines and insurers lower, retreating at least 1.5 percent. Bayerische Motoren Werke AG (BMW) slid 1.6 percent. Deutsche Bank AG (DBK) rose after JPMorgan Chase & Co. boosted its recommendation on the shares. Gildemeister AG (GIL) added 3.4 percent after Deutsche Bank upgraded the maker of cutting tools.
Top 10 Bank Companies To Invest In 2014: Bar Harbor Bankshares (BHB)
Bar Harbor Bankshares (BHB), incorporated on January 19, 1984, is a bank holding company. The Company has one wholly owned operating subsidiary, Bar Harbor Bank & Trust (the Bank), which offers a range of deposit, loan, and related banking products, as well as brokerage services provided, through a third-party brokerage arrangement. In addition, the Company offers trust and investment management services, through its subsidiary, Bar Harbor Trust Services (Trust Services), a trust company. These products and services are offered to individuals, businesses, not-for-profit organizations and municipalities. In August 2012, the Company announced that its principal subsidiary, Bar Harbor Bank & Trust, acquired Border Trust Company (Border Trust), a subsidiary of Border Bancshares, Inc.
Bar Harbor Bank & Trust
The Bank has 12 branch offices located throughout downeast and midcoast Maine, including its principal office in Bar Harbor. The Bank’s offices are located in Hancock, Washington and Knox Counties, representing the Bank’s principal market areas. The Hancock County offices, in addition to Bar Harbor, are located in Blue Hill, Deer Isle, Ellsworth, Northeast Harbor, Somesville, Southwest Harbor, and Winter Harbor. The Washington County offices are located in Milbridge, Machias, and Lubec. The Knox County office is located in Rockland. The Bank delivers its operations and technology support services from its operations center located in Ellsworth, Maine.
The Bank is a retail bank serving individual and business customers, retail establishments and restaurants, seasonal lodging, biological research laboratories, and a contingent of retirees. As a coastal bank, it serves the tourism, hospitality, lobstering, fishing, boat building and marine services industries. It also serves Maine’s wild blueberry industry through its Hancock and Washington County offices. The Bank operates in a market that includes o ther community banks, savings institutions, credit unions, a! nd branch offices of statewide and interstate bank holding companies located in the Bank’s market area.
The Bank offers a variety of consumer financial products and services. The Bank’s retail deposit products and services include checking accounts, interest bearing negotiable order of withdrawal (NOW) accounts, money market accounts, savings accounts, club accounts, short-term and long-term certificates of deposit, health savings accounts and individual retirement accounts. Credit products and services include home mortgages, residential construction loans, home equity loans and lines of credit, credit cards, installment loans, and overdraft protection services. The Bank provides secured and unsecured installment loans for new or used automobiles, boats, recreational vehicles, mobile homes and other personal needs. The Bank also offers other customary products and services, such as safe deposit box rentals, wire transfers, check collection services, foreign currency exchange, money orders, and United States Savings Bonds redemptions.
The Bank retains Infinex Investments, Inc., (Infinex) as a third-party broker-dealer, conducting business business name Bar Harbor Financial Services. Bar Harbor Financial Services is a branch office of Infinex, an independent registered broker-dealer offering securities and insurance products that is not affiliated with the Company or its subsidiaries. Bar Harbor Financial Services principally serves the brokerage needs of individuals, including first-time purchasers and investors. It also offers a line of life insurance, annuity, and retirement products, as well as financial planning services. The Bank offers Internet banking services, including free check images and electronic bill payment, through its Website at www.BHBT.com. Additionally, the Bank offers TeleDirect, an interactive voice response system, through which customers can check account balances and activity, as well as i nitiate money transfers between their accounts. Automated te! ller mach! ines (ATMs) are located at each of the Bank’s 12 branch locations, as well as two machines in non-Bank locations. The Bank is also a member of Maine Cash Access, providing customers with surcharge-free access to 217 ATMs throughout the state of Maine. Visa debit cards are also offered, providing customers with free access to their deposit account balances at point of sale locations worldwide.
The Bank serves the small business market throughout downeast and midcoast Maine. It offers business loans to individuals, partnerships, corporations, and other business entities for capital construction, real estate and equipment financing, working capital, real estate development, and a range of other business purposes. Business loans are provided primarily to organizations and sole proprietors in the tourism, hospitality, healthcare, blueberry, boatbuilding, and fishing industries, as well as to other small and mid-size businesses associated with coastal communities.
The Bank offers a variety of commercial deposit accounts, including business checking and tiered money market accounts. These accounts are typically used as operating accounts or short-term savings vehicles. The Bank’s cash management services provide business customers with short-term investment opportunities through a cash management sweep program, whereby excess operating funds over established thresholds are swept into overnight securities sold under agreements to repurchase. The Bank also offers Business On Line Direct (BOLD), an Internet banking service for businesses. This service allows business clients to view their account histories, print statements, view check images, order stop payments, transfer funds between accounts, transmit automated clearing house (ACH) files, and order both domestic and foreign wire transfers. The Bank also offers remote deposit capture, enabling its business customers to deposit checks remotely. Other commercial banking ser vices include merchant credit card processing provided throu! gh a thir! d party vendor, night depository, and coin and currency handling.
Bar Harbor Trust Services
Trust Services provides a range of trust and investment management services to individuals, businesses, not-for-profit organizations, and municipalities. Trust Services serves as trustee of both living trusts and trusts under wills, including revocable and irrevocable, charitable remainder and testamentary trusts, and in this capacity holds, accounts for and manages financial assets, real estate and special assets. Trust Services offers custody, estate settlement, and fiduciary tax services. Additionally, Trust Services offers employee benefit trust services, for which it acts as trustee, custodian, administrator and/or investment advisor, for employee benefit plans and for corporate, self employed, municipal and not-for-profit employers located throughout the Company’s market areas. As of December 31, 2011, Trust Services served 758 client accounts.
- [By Marc Bastow]
Bar Harbor, Maine-based bank holding company Bar Harbor Bankshares (BHB) raised its quarterly dividend 1.6% to 32.5 cents per share, payable on Mar. 14 to shareholders of record as of Feb. 15.
BHB Dividend Yield: 3.37%
- [By Marc Bastow]
Bar Harbor, Maine based bank holding company Bar Harbor Bankshares (BHB) raised its quarterly dividend 1.6% to 32 cents per share, payable on Dec. 13 to shareholders of record as of Nov. 15. The increase marks the 10th consecutive quarter of dividend increases.
BHB Dividend Yield: 3.39%
Top 10 Bank Companies To Invest In 2014: Popular Inc.(BPOP)
Popular, Inc., through its subsidiaries, provides a range of retail and commercial banking products and services primarily to corporate clients, small and middle size businesses, and retail clients in Puerto Rico and Mainland United States. It offers deposit products; commercial, consumer, and mortgage loans, as well as lease finance; and finance and advisory services. The company also offers trust and asset management, brokerage and investment banking, and insurance and reinsurance services. As of December 31, 2010, it owned and occupied approximately 94 branch premises and other facilities in Puerto Rico; and 119 offices, including 20 owned and 99 leased in New York, Illinois, New Jersey, California, Florida, and Texas. Popular, Inc. was founded in 1917 and is headquartered in San Juan, Puerto Rico.
- [By Paul Ausick]
Among multinationals, Sterne Agee recommends three banks. The first is Puerto Rico’s Popular Inc. (NASDAQ: BPOP). The mid-cap bank’s stock closed at $28.21 on Friday in a 52-week range of $20.31 to $34.34. Based on Sterne Agee’s 2014 price target of $40.00, Popular has an upside potential of nearly 42% and a 2014 EPS estimate of $2.90. The investment firm’s forward multiple is just 9.6, below the Thomson Reuters consensus multiple of 10.3. Popular received TARP funds in 2009 and could repay the loan in the first quarter of next year, which will give the stock a shot in the arm as well.
- [By Jake L’Ecuyer]
Popular (NASDAQ: BPOP) shares tumbled 5.54 percent to $27.48 after Morgan Stanley downgraded the stock from Equal-weight to Underweight.
Pacific Coast Oil Trust (NYSE: ROYT) down, falling 7.13 percent to $16.70 after the company priced a public offering by Pacific Coast Energy Company LP and other selling unitholders of 13,500,000 trust units at a price of $17.10 per unit.
Top 10 Bank Companies To Invest In 2014: Astoria Financial Corp (AF)
Astoria Financial Corporation, incorporated on June, 14, 1993, is the unitary savings and loan association holding company of Astoria Federal Savings and Loan Association (Astoria Federal). The Company’s principal business is the operation of its wholly owned subsidiary, Astoria Federal. Astoria Federal’s primary business is attracting retail deposits from the general public and investing those deposits, together with funds generated from operations, principal repayments on loans and securities and borrowings, primarily in one- to four-family mortgage loans, multi-family mortgage loans, commercial real estate loans and mortgage-backed securities. Astoria Federal also invests in consumer and other loans, the United States Government, government agency and government-sponsored enterprise (GSE), securities and other investments.
The Company’s loan portfolio consists primarily of mortgage loans. As of December 31, 2012, 74% o f its total loan portfolio was secured by residential properties and 24% was secured by multi-family properties and commercial real estate. The remainder of the loan portfolio consists of a variety of consumer and other loans, including commercial and industrial loans originated in 2012 through its business banking initiatives. As of December 31, 2012, its net loan portfolio totaled $13.08 billion, or 79% of total assets. The Company originates mortgage loans either directly through its banking and loan production offices in New York or indirectly through brokers and its third party loan origination program. It also originates mortgage loans for sale. The Company’s primary lending focus is on the origination and purchase of first mortgage loans secured by one- to four-family properties that serve as the primary residence of the owner.
The Company also originates multi-family and commercial real estate loans. As of December 31, 2012, multi-family mortgage loan s totaled $2.41 billion, or 18% of its total loan portfolio,! and commercial real estate loans totaled $773.9 million, or 6% of its total loan portfolio. At December 31, 2012, $264.1 million, or 2%, of the Company’s total loan portfolio consisted of consumer and other loans which were primarily home equity lines of credit. The Company also offers overdraft protection, lines of credit, commercial loans and passbook loans. Consumer and other loans, with the exception of home equity and commercial lines of credit, are offered primarily on a fixed rate, short-term basis.
At December 31, 2012, the Company’s securities portfolio totaled $2.04 billion, or 12%, of total assets. The Company does not use derivatives for trading purposes. Its securities portfolio consists primarily of mortgage-backed securities. At December 31, 2012, its mortgage-backed securities totaled $1.94 billion, or 95%, of total securities, of which $1.92 billion, or 94%, of total securities, were real estate mortgage investment conduits (REMIC) and collateralized mortgage obligation (CMO) securities, substantially all of which had fixed rates. Of the REMIC and CMO securities portfolio, $2.35 billion, or 98.7%, are guaranteed by Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) or Government National Mortgage Association (Ginnie Mae) as issuer. At December 31, 2012, its securities available-for-sale totaled $336.3 million and its securities held-to-maturity totaled $1.7 billion. At December 31, 2012, it had no investments in repurchase agreements and federal funds sold.
Sources of Funds
The Company’s primary source of funds is the cash flow provided by its investing activities, including principal and interest payments on loans and securities. Its other sources of funds are provided by operating activities and financing activities, including deposits and borrowings. The Company offers a variety of deposit a ccounts with a range of interest rates and terms. It offers ! passbook ! and statement savings accounts, money market accounts, negotiable order of withdrawal (NOW) and demand deposit accounts, liquid certificates of deposit (Liquid CDs), and certificates of deposit, which include all time deposits other than Liquid CDs. Liquid CDs have maturities of three months, require the maintenance of a minimum balance and allow depositors the ability to make periodic deposits to and withdrawals from their account. At December 31, 2012, its deposits totaled $10.44 billion. Of the total deposit balance, $1.28 billion, or 12%, represented individual retirement accounts during the year ended December 31, 2012. It held no brokered deposits at December 31, 2012. Core deposits represented 53.3% of total deposits at December 31, 2011. Reverse repurchase agreements are accounted for as borrowings and are secured by the securities sold under the agreements. At December 31, 2012, borrowings totaled $4.37 billion. It also obtains advances from the Federal Home Loan Ba nk of New York (FHLB-NY).
In addition to Astoria Federal, the Company has two other subsidiaries, AF Insurance Agency, Inc. and Astoria Capital Trust I. AF Insurance Agency, Inc. is a life insurance agency. Through contractual agreements with various third parties, AF Insurance Agency, Inc. makes insurance products available primarily to the customers of Astoria Federal. Astoria Federal’s wholly owned subsidiaries include AF Agency, Inc., Astoria Federal Savings and Loan Association Revocable Grantor Trust, Astoria Federal Mortgage Corp. (AF Mortgage), Fidata Service Corp. (Fidata), Marcus I Inc. and Suffco Service Corporation (Suffco). AF Agency, Inc. makes various annuity products available to the customers of Astoria Federal through an unaffiliated third party vendor. AF Mortgage is an operating subsidiary through which Astoria Federal engages in lending activities outside the State of New York through its third party loan origination program. Fidata mortgage loans totaled $5.09 bi! llion at ! December 31, 2012. Suffco serves as document custodian for the loans of Astoria Federal and Fidata and certain loans being serviced for Fannie Mae and other investors.
- [By Namitha Jagadeesh]
International Consolidated Airlines Group SA (IAG) and Air France-KLM (AF) Group rose with as a gauge of travel stocks as oil prices fell after Iran’s accord. PSA Peugeot Citroen gained 3.7 percent after people familiar with the matter said its chief executive officer plans to step down next year. Fresenius Medical Care AG surged the most in five years after U.S. regulators scrapped a plan to cut Medicare payments next year.
- [By Jonathan Morgan]
Air France-KLM Group (AF), Europe’s second-biggest airline by sales, retreated 2.8 percent. Mediaset SpA climbed 2.8 percent after Credit Suisse Group AG raised its price target on the Italian broadcaster. Serco Group Plc added 2.7 percent after predicting that its revenue growth in the first half will exceed its previous estimates.
Top 10 Bank Companies To Invest In 2014: Australia and New Zealand Banking Group Ltd (ANZ)
Australia and New Zealand Banking Group Limited (ANZ) provides a range of banking and financial products and services to retail, small business, corporate and institutional clients. The Company conducts its operations in Australia, New Zealand and the Asia Pacific region. It also operates in a range of other countries, including the United Kingdom and the United States. The Company operates on a divisional structure with Australia, International and Institutional Banking (IIB), New Zealand, and Global Wealth and Private Banking. As of September 30, 2012, the Company had 1,337 branches and other points of representation worldwide, excluding automatic teller machines (ATMs). In September 2012, it sold its remaining shareholding in Visa Inc. Advisors’ Opinion:
- [By Adam Haigh]
Komatsu Ltd. tumbled 8 percent in Tokyo after the world’s second-largest maker of construction equipment cut its full-year profit forecast by 26 percent. Industrial & Commercial Bank of China Ltd. gained 1.4 percent in Hong Kong, pacing an advance among Chinese lenders, after China’s central bank added funds to the financial system for the first time in two weeks. Australia & New Zealand Banking Group Ltd. (ANZ) climbed 1.4 percent to a record in Sydney after posting its highest profit and raising its dividend more than forecast.
- [By Adam Haigh]
Australia & New Zealand Banking Group Ltd. (ANZ) sank 3 percent after Australia’s third-largest bank by market value forecast interest margins will keep dropping. Hyundai Merchant Marine Co. jumped 6.9 percent in Seoul after North Korea and South Korea agreed to reopen the Gaeseong industrial complex. Chinese stock exchange officials are investigating a spike in the Shanghai Composite Index, which soared from a loss of as much as 1 percent to a gain of 5.6 percent in two minutes. Everbright Securities Co. said it experienced a trading error.
Top 10 Bank Companies To Invest In 2014: Swedbank AB (SWDBY.PK)
Swedbank AB is the parent company of Swedbank. Swedbank consists of subsidiaries, associates and a joint venture. The Company operates in six business areas: Swedish Banking, Baltic Banking, International Banking, Swedbank Markets, Asset Management and Ektornet. On January 20, 2009, Swedbank Robur AB acquired Banco Fonder AB from Alfred Berg. In February 2010, the Company acquired a 15% equity stake in OAO Swedbank from European Bank for Reconstruction and Development (EBRD). During the year ended December 31, 2009, Swedbank sold four branches to Sparbanken Nord, three branches to Sparbanken Dalsland, two branches to Sparbanken Rekarne, one branch to Tidaholms Sparbank and one branch to Sparbanken 1826.
Swedish Banking is engaged in offering a range of financial products and services to private customers, corporates, organisations and municipalities through close to 400 branches, as well as the telephone bank and Internet bank in S weden. Swedbank’s products are also sold through the cooperating savings banks, which account for another 275 branches. The subsidiary in Luxembourg, with a representative office in Spain is included in the business area as well.
Baltic Banking offers a range of financial products and services to private and corporate customers in Estonia, Latvia and Lithuania. It offers its services through 226 branches, as well as the telephone bank and Internet bank.
International Banking consists of operations outside Swedbank’s home markets, primarily the banking operations in Ukraine and Russia. In addition to Ukraine and Russia, the business area includes the branches in Denmark, Norway, the United States and China, as well as the representative office in Japan. The branch network in Ukraine, consists of 156 branches, serves both private and corporate customers. The Nordic branches offer corp orate customers, mainly Swedish customers with operations in! the Nordic markets, a range of financial products and services.
Swedbank Markets has operations in equity, fixed income and currency trading, corporate finance, as well as project, export and acquisition financing. In addition to its operations in Swedbank’s home markets, the business area includes the subsidiaries First Securities ASA in Norway and Swedbank First Securities LLC in New York.
Asset Management, which consists of the subsidiary Swedbank Robur Group, offers services in fund management, institutional and discretionary asset management in all of Swedbank’s home markets. Its customers include private customers, as well as institutions, foundations, municipalities, county councils and other investors. Its products are sold and distributed primarily by Swedish Banking and Baltic Banking and the savings banks in Sweden.
Ektornet is an independe nt subsidiary of Swedbank AB. It focuses on managing the Company’s repossessed assets and developing them over time. Most of the collateral consists of real estate, the part of which will be in the Baltic countries, though also in the Nordic region and the United States.
- [By David Hunkar]
Current Dividend Yield: 5.16%
Sector: Oil, Gas & Consumable Fuels
Company: Swedbank AB (SWDBY.PK)
Current Dividend Yield: 6.50%
Top 10 Bank Companies To Invest In 2014: Bank of Nova Scotia (BNS)
The Bank of Nova Scotia (the Bank) is a diversified financial institution. As of October 31, 2011, the Bank offered a range of products and services, including retail, commercial, corporate and investment banking to more than 18.6 million customers in more than 50 countries around the world. The Bank has four business lines: Canadian Banking, International Banking, Scotia Capital and Global Wealth Management. In January 2012, the Company closed its acquisition of 51% of Banco Colpatria. In April 2012, the Company through Scotia Capital Inc. acquired Howard Weil Incorporated. In April 2013, Bank of Nova Scotia acquired a 50% interest in Administradora de Fondos de Pensiones Horizonte SA. Advisors’ Opinion:
- [By Mike Deane]
Before the opening bell today, The Bank of Nova Scotia (BNS) announced its fourth quarter earnings, posting higher net income than last year’s same quarter.
BNS Earnings in Brief
-BNS reported Q4 net income of $1.7 billion, up 12% from last year’s Q4 net income of $1.52 billion.
-Adjusted diluted EPS came in at $1.31, up from last year’s Q4 EPS of $1.20.
-The company’s EPS matched analysts’ EPS estimates.
-For the full year, BNS reported net income of $6.7 billion, and EPS per diluted share of $5.15.
Brian Porter, Scotiabank President and CEO, had the following to say about the company’s fiscal year: “Scotiabank experienced another year of solid performance with underlying earnings growing 15%. The Bank’s enterprise strategy and diversified business model continue to differentiate us from our competitors in Canada and internationally and once again have enabled us to deliver strong results.”
BNS declared a quarterly dividend of 62 cents, which will be paid on January 29, 2014 to all shareholders of record on January 7, 2014. The stock goes ex-dividend on January 3. BNS most recently its dividend in October this year, where the dividend increased from 60 to 62 cents.
BNS stock was inactive in pre-market trading. YTD, the stock is up just 2.06%, lagging the broader market.
- [By Will Ashworth]
TD Rating: 7.5
Bank of Nova Scotia (BNS)
Dividend Yield: 3.9%
The last of the major Canadian banks is Bank of Nova Scotia (BNS). Not known for its Canadian retail banking, its biggest calling cards are its businesses outside of Canada in Latin America and Asia. Analysts expect it to deliver a 9.1% increase in adjusted net income in the fourth quarter to C$1.6 billion, 47% of which will come from outside of Canada.
- [By Laura Brodbeck]
Earnings Expected From: Big Lots, Inc. (NYSE: BIG), Bank of Nova Scotia (NYSE: BNS), American Eagle Outfitters (NYSE: AEO) Economic Releases Expected: French trade balance, Swiss CPI, US non-farm payrolls, US unemployment rate
Posted-In: Bank Of England European Central Bank Mario DraghiEurozone Commodities Previews Economics Federal Reserve Pre-Market Outlook Markets Trading Ideas Best of Benzinga