Company Reports

WFC 3Q18: Shrink Wrap with Some Sparks

10/14/2018

WFC continues to underwhelm although there are some sparks of loan life. NIM still bogged down and fee revs stalled too. Go to Sell on Bonds on tightening, Buy on Stock on valuation. WFC WFC WFC WFC WFC WFC WFC WFC WFC


JPM 3Q18: Mighty Margins Deposits & Cards

10/12/2018

JPMorgan continues to impress even with flat trading as the consumer and commercial businesses ramped ahead. Still Buy on Stock & Bonds despite rate rise. Very low counterparty and regulatory risks. JPM JPM JPM JPM JPM JPM JPM JPM JPM


Citi 3Q18: C-ing is Believing, Need More Growth

10/12/2018

Citi needs to show more net interest margin improvement and card growth to get it out of the slow recovery lanes. Fixed income trading wasn't bad, but equity fizzled. Still Buy on Stock & Bonds. Medium counterparty and regualtory risk.  CITI CITI CIT CITI CITI CITI CITI CITI CITI


RF @ Barclays: Deposits Key to Digital

09/17/2018

RF is all about low cost deposits and trying to attach that to digital banking to get some asset growth. Still, an upward battle as big brand banks infiltrate with their FinTech offerings. Sell on Stock, Buy on benchmark Bonds. RF RF RF RF RF RF RF RF RF


WFC @ Barclays: More Sluggishness, Why?

09/14/2018

WFC remains burdened by poor decisions whether risk and compliance controls, or shrinking former star assets that have become duds. Still, top mgt not too concerned and hoping for a better 2019 to 2020. Still a Buy on Stock & Bonds. WFC WFC WFC WFC WFC WFC WFC WFC WFC


USB @ Barclays: Digital Everywhere

09/13/2018

USB's CEO spoked to digitization as the current phase of banking which it will be dominant to drive its operating leverage more positively. This should catapult its economic earnings driving stock valuations. Buy on Stock, Sell on benchmark Bond on relval reasons. USB USB USB USB USB USB USB USB USB


JPM @ Barclays: Swag That Wags the Morgan Big Dawg

09/13/2018

JPM's CFO Lake wooed the lunchtime crowd with her "swag" certification of the new Sapphire Banking and You Invest mobile products. The next leg of revenue growth for JPM's big consumer business. Remain Buy on Stock & Bonds. JPM JPM JPM JPM JPM JPM JPM JPM JPM 


Citi @ Barclays: 1-2-3 Punch: Rev Growth, Efficiency & Buybacks

09/12/2018

Citi's outgoing CFO noted the great strides accomplished over his tenure in his fairwell financial presentation tour. The franchise is back and returning capital to shareholders while protecting creditors. Remain a Buy on Stock & Bonds. CITI CITI CITI CITI CITI CITI CITI CITI CITI


BAC @ Barclays: Wealth Mgt Focus: Meeting Millennials Maturing Needs

09/12/2018

BAC focused on its wealth mgt business and how it can grab millennial mind & money share better than peers. Still wedded to advisor based model in all coverage areas. Continue our Buy on Stock & Bonds. BAC BAC BAC BAC BAC BAC BAC BAC BAC


STI @ Barclays: Financing @ the Speed of LightStream

09/12/2018

STI is counting on Lightstream consumer loans to light up its consumer loan margins and growth. Says its well-underwritten, but maybe not quite if economy softens. Still need to monitor. Remain Neutral on Stcck & Bonds. STI STI STI STI STI STI STI STI STI


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