The Market managed to survive the most bearish month of the year without suffering too badly. Actually, the S&P 500 gained 3.0% this past month. Now we are faced with a turn back to a [...]
FUBC: Attractive FL-Based Bank With Solid Core Deposit Base; Initiating Coverage With An “Outperform” Rating And $8.50 Target.
FUBC Initiation We are initiating coverage of FUBC- 1st United Bancorp with an “Outperform” rating. Our 12-month price target is $8.50/share representing potential upside of ~ 17%. On [...]
Musings 9.30.13 EVE-Econ Value of Equity & Mortgage Stocks A few months ago, the FDIC released a presentation and video for Bank Directors to educate on the agency’s emphasis towards [...]
Mortgage Bank Stocks: Valuations Since May 2013, Plus Core Deposit Premiums Underscore Inexpensive Pricing For Some
As 3Q-2013 EPS reporting season bears down on us in the next 2-3 weeks, we find the Mortgage business once again an area of high interest among investors. It is widely expected that absolute [...]
EVE-Economic Value Of Equity: Our Weekly Musings Explains This Concept & Why The FDIC Cares So Much About It.
Musings 9.30.13 EVE-Economic Value of Equity & Mortgage Stocks A few months ago, the FDIC released a presentation and video for Bank Directors to educate on the agency’s emphasis [...]
GBNK: Lowering Rating To “Market-Perform” On Price Appreciation; No Change To Estimates Or $13.50 Target
GBNK Update 9.27.13 We are lowering our investment rating on GBNK-Guaranty Bancorp to “Market-Perform” from “Outperform” due solely to stock price appreciation. Based on [...]
BANC: Higher Merger Costs & Efficiency Efforts in 3Q13 Result in Lower EPS, but 2014 Still On Track To Achieve Core EPS: “Outperform”.
BANC Update 9.27.13 We are revising our EPS estimates for BANC to adjust for the pre-announcement of larger than expected one-time noninterest expenses totaling slightly more than $10 Million [...]