Company Reports

10K Takes SunTrust: In Takeover Target-Sights Again?


We know, that STI has been bandied about as a Takeover target for the last 30 years and avoided it. But now that Florida is the 3rd largest state in the USA, it could be a sitting duck for a big bank like JPMorgan. Buy stock, sell debt stack, Risk-reg is contained. STI STI STI SunTrust SunTrust SunTrust

10K Takes USB: Triple Threat of Credit, Costs, Payouts


US Bancorp is a patient lender & acquirer waiting for the right environment to transact. Still it has driven its cap.stack support with conservative credit standards, cost cutting, and shareholder payouts. USB USB USB US Bancorp US Bancorp US Bancorp

10K Takes KeyCorp: Keen on Bank Deals as Key


KeyCorp has been on acquisition steroids for 30+ years and suger coats it with CRE and swaps. Does not convince and we are a Sell on cap.stack. Risk-reg levels low. KEY KEY KEY Keycorp Keycorp Keycorp

10K Takes Fifth Third: Going from 5th to 3rd Overdrive, Not Enough


Fifth Third is having a hard time reinventing its growth rates and has to rely on cost cutting and remodeling its value proposition. Sell Stock, some bonds. Risk-reg is at low levels. FITB FITB FITB Fifth Third Fifth Third Fifth Third

10K Takes PNC Financial: Planning on Not destroying Capital


​PNC is good at not doing big bad bank deals and moving the revenues sustainability and mix along. Will work on shareholder payout increases to drive stock. Buy on Stock, Sell on pricey debt. Risk-reg low. PNC PNC PNC PNC PNC

10K Takes MS: Mor Ga(i)ns to Come in Cap Structure


Morgan Stanley has built up balance sheet protections for capital & liquidity above the big bank pack. Its transition to wealth mgt progressing well as it reduces trading vol. Positive view on stock & bonds. Risk-reg moving lower. MS MS MS Morgan Stanley Morgan Stanley Morgan Stanleyms ms ms

10K Takes BK Mellon: Anchor Store Risk of Financial Mkts


​Is BK becoming the M of the processing/servicing world as Blockchain technology revolutionizes the ledger businesses in AUA & ACA. We explore that anchor store/servicer obsolescence predicament. Sell cap stack. Risk-reg on observation. BK BK BK Bank of New York Mellon Bank of New York Mellon Bank of New York Mellon

10K Takes WFC: Ben-Hur of Banking?


Wells Fargo had two-wheels shot off from its stage coach as it tries to re-balance as a chariot driven company. Needs to win back customers and regulators before it can rollforward big profits. Still, buy stock some LT bonds. Risk-reg contained. WFC WFC WFC Wells Fargo Wells Fargo Wells Fargo

10K Takes JPMorgan: Frank Sinatra of Banking


JPM has mastered the "art of banking" and now will take a more aggressive acquisition stance. CEO Dimon is the King of Swing in the banking sector as he holds the banking world by a string. Buy Stock, select debt. Risk-reg contained. JPM JPM JPM JPMorgan JPMorgan JPMorgan

10K Takes Ally: Gone Digital, Ditching Drivers?


Ally recognizing multiple threats from FinTech, e-commerce, brokered deposits and deposit sensitivities to higher rates. Driving franchise into subprime as it trys to survive. Buy Bonds, Sell Stock as fixed income priced for risks and stock not. Risk-reg manageable. Ally Ally Ally

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