DIRS.INFO The most relevant business & tech news

☆ These stocks reporting earnings next week have a history of beating expectations
▼ + stars: | 2024-10-10 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Earnings season is heating up, and investors' expectations are strong leading up to several financial reports due next week. For the third quarter, the estimated year-over-year earnings growth rate for the S & P 500 is 4.2% — which would mark the fifth straight quarter of year-over-year earnings growth for the index if it happens, according to FactSet. Nearly half of S & P 500 companies that will report earnings this week are financials. Alexopoulos has an overweight rating and Dec. 2025 price target of $100.00 on the mid-sized bank, which suggests shares can gain 19.4%. Their average price target suggests just 3.4% potential upside over the next year.

Persons: It's, Steven Alexopoulos Organizations: Investment, Citizens, FactSet, CNBC, Western Alliance, JPMorgan

Meanwhile, JPMorgan upgraded Huntington Bancshares to overweight from neutral, with a price target that implies upside of 31%. Analyst Scott Hanold's $90 price target implies that shares of Civitas could rise 25% from here. These two headwinds combined together could create near-term pressures for the stock by limiting Zscaler's billings growth, the analyst wrote. Nowinski's price target of $182, down from $275, implies the stock could rise 6% from here. The bank upgraded shares of the cruise operator to buy from neutral and lifted its price target to $24 from $21.

Persons: Mizuho, Scott Hanold's, Hanold, — Lisa Kailai Han, Wells, Andrew Nowinski, F4Q24, Nowinski, Patrick Cunningham, Cunningham, Lisa Kailai Han, Andrew Boone, Boone, Max, Duolingo, Ben Chaiken, Jan, Chaiken, Steven Alexopoulos, Alexopoulos, Huntington, Fred Imbert Organizations: CNBC, Cruise Line, JPMorgan, Huntington, RBC, Civitas Resources, RBC Capital Markets, Citi, DuPont DuPont, DuPont, Max, Mizuho, Cruise Locations: DAU, Mizuho, Norwegian, Huntington Bancshares, Columbus , Ohio, Friday's

☆ JPMorgan says the late Charlie Munger would love this wonderful bank trading at a fair price
▼ + stars: | 2024-05-08 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

JPMorgan said this regional bank is so appealing that it would have attracted attention from the late Charlie Munger. "When we think of the late, great Charlie Munger and his mantra to 'buy wonderful businesses at fair prices,' the bank that fits this bill in our view is Cullen Frost," the firm's bank analyst Steven Alexopoulos said in a note. However, JPMorgan said the bank's "strong organic growth story" remained fully intact. JPMorgan said investors are now able to buy the shares at 13.1 times forward earnings, compared to a 16X historical average. The bank maintained its overweight rating and has a 12-month price target of $140 per share, which would translate into 32% upside from Tuesday's close of $105.62.

Persons: Charlie Munger, Cullen Frost, Steven Alexopoulos, Munger, Buffett, Cullen, Frost, — CNBC's Michael Bloom Organizations: JPMorgan, Berkshire Hathaway's, CFR, Frost Bankers Locations: San Antonio , Texas

☆ Wednesday analyst calls: JPMorgan downgrades New York Community Bancorp, Eli Lilly gets big boost
▼ + stars: | 2024-02-07 | by ( Pia Singh | ) www.cnbc.com time to read: +8 min

Troubled regional bank New York Community Bank faced a downgrade from JPMorgan, which said NYCB is facing a multitude of challenges. The firm upped its price target for the drug maker to $850, all the way from $200. Wells Fargo : Analyst Zachary Fadem kept his overweight rating and raised his target price by $200 to $2,800, implying 12.5% upside for shares. "After speaking to management, we confirmed these two executives had indeed left the company, wrote JPMorgan analyst Steven Alexopoulos. NXP's stock price is down 2.9% for the year, but still higher than 15% over the past 12 months.

Persons: Eli Lilly, Eric Gonzalez, Gonzalez, Wells, Zachary Fadem, Sara Senatore, Chipotle, — Pia Singh, JPMorgan downgrades, Steven Alexopoulos, Alexopoulos, John Melloy, Vivek Arya, Arya, Robyn Karnauskas, Karnauskas, Zepbound Organizations: CNBC, New York Community Bank, JPMorgan, Pharma, Truist Securities, Semiconductors, Bank of America, KeyBanc, Barclays, New York Community Bank JPMorgan, New, Community Bank, Financial Times, Bloomberg News, New York Community Bancorp, Battery Management Systems, Food and Drug Administration Locations: Wells Fargo, Tuesday's

☆ U.S. regional banking shares tumble for second straight day
▼ + stars: | 2024-02-01 | by ( ) www.cnbc.com time to read: +2 min

The KBW Regional Banking Index slipped 4.8% after seeing its biggest single-day decline since the collapse of Signature Bank in March last year. NYCB shares lost another 13.4% of their value and were last trading at $5.60. The frenzied selling in banking shares has rekindled fears about regional lenders, even as many analysts and investors said the problems at NYCB were mostly unique. Western Alliance Bancorp's shares fell nearly 11%, while those of Valley National Bancorp dropped 8.8%. Comerica's shares fell 5.8%.

Persons: NYCB, Martin Rauchenwald, Arthur D, Steven Alexopoulos, Alexopoulos, Moody's, Western Alliance Bancorp's Organizations: New York Community Bank, U.S, New York Community Bancorp, Signature Bank, Flagstar Bank, Jefferies, Western Alliance, National Bancorp Locations: Yonkers , New York, U.S, NYCB

☆ JPMorgan upgrades this little-known regional bank with more than 45% upside
▼ + stars: | 2023-10-05 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

JPMorgan thinks it's time to buy shares of North Carolina-based regional bank Live Oak Bancshares . Analyst Steven Alexopoulos upgraded the stock to overweight from neutral and maintained his price target of $40. Shares of Live Oak Bancshares are down more than 15% over the past month. "The recent sell-off provides us with the entry point that we were waiting for," Alexopoulos said in a Thursday note. "With Live Oak now on a mission to cross-sell operating deposit accounts to its small business customers, we see a significant opportunity to improve its growth as well as return profiles," the analyst said.

Persons: Steven Alexopoulos, Alexopoulos, BJ Losch, — CNBC's Michael Bloom Organizations: JPMorgan, Federal Reserve Locations: North Carolina

☆ JPMorgan says shares of this bank are headed to $1,850 as it benefits from SVB's demise
▼ + stars: | 2023-09-20 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

First Citizens BancShares , the institution that bought a large chunk of failed Silicon Valley Bank, is set to benefit from these assets tied to financial innovation, according to JPMorgan. The Wall Street firm initiated coverage of First Citizens BancShares at overweight with a $1,850 price target for December 2024. Founded in 1898, First Citizens has been led by the Holding family for more than 100 years, and it has grown to a top 20 bank with $210 billion assets, JPMorgan said. The analyst noted that First Citizens is trading at a 16% discount to its peers despite the strong rally this year. "While the key to SVB's long-term success will eventually be the culture of the former company being resurrected, we find many similarities between the legacy SVB culture and the First Citizens culture," Alexopoulos wrote.

Persons: BancShares, SVB, Steven Alexopoulos, Alexopoulos, — CNBC's Michael Bloom Organizations: Bank, JPMorgan, First, First Citizens, Citizens Locations: Tuesday's, SVB, U.S

☆ Manchester United faces growing pressure over decision on Mason Greenwood
▼ + stars: | 2023-08-18 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —As Manchester United continues to consider Mason Greenwood’s future, the English Premier League club faces growing scrutiny from fans, some of whom have staged protests at games. Earlier this week, United said that the club is in “the final stages” of making a decision on the player’s future. Pretending this is ok would be a huge part of the problem.”Manchester United fans protest against Greenwood potentially returning to play for the club prior to Monday's game against Wolves. Manchester United referred CNN to the club statement issued on Wednesday, saying it has nothing further to add. In that statement, the club said that it has “conducted a thorough investigation” into the allegations against Greenwood.

Persons: Mason Greenwood’s, Greenwood, United, “ legitimises, Rachel Riley, won’t, Riley, Ioannis Alexopoulos, Greenwood hasn’t, Mason, “, ” Organizations: CNN, Manchester United, English Premier League, Crown Prosecution Service, CPS, Wolves

☆ Investors should shrug off credit downgrades and buy regional bank shares, JPMorgan says
▼ + stars: | 2023-08-09 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Moody's warning this week about the credit worthiness of more than two dozen banks has created a buy-the-dip opportunity in shares of regional lenders, according to JPMorgan. The credit rating agency downgraded the ratings of 10 regional banks on Monday evening, and signaled concern for about 17 more. But JPMorgan analyst Steven Alexopoulos said in a note to clients on Wednesday that those concerns are already priced in to bank stocks, and regional bank stocks now have upside from current levels. That means that many bank stocks look cheaper today than before the downgrades, Alexoloulos said. JPMorgan's top picks among regional banks include New York Community Bancorp.

Persons: Steven Alexopoulos, Moody's, Alexoloulos, JPMorgan's, — CNBC's Michael Bloom Organizations: JPMorgan, Silicon Valley Bank, First, Pinnacle Financial, Pinnacle, Regional Banking, New York Community Bancorp, Western Alliance Locations: Silicon, New

☆ The stablecoin market has shrunk this year while bitcoin has rallied — What investors should know
▼ + stars: | 2023-08-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Bitcoin is up more than 75% this year, but the market capitalization for stablecoins has dwindled during the same period. "This is unusual as often the market capitalization of stablecoin increases during rallies and decreases during downturns, matching the trend of the overall crypto market," JPMorgan analyst Steven Alexopoulos said in a note Thursday. "An explanation for the decline of the stablecoin market may be due to investors preferring the higher returns of bitcoin and Ethereum or even traditional assets (benefiting from a rise in interest rates)." In July, it hit an all-time high of $83.8 billion and now accounts for 68.5% of the overall stablecoin market. Tether's prominence Instead of focusing on declines in USDC, investors could point to Tether's growth as evidence of stablecoin inflows, for example.

Persons: Bitcoin, Steven Alexopoulos, bitcoin, USDC, Steven Lubka, Swan, David Wells, Coinbase, Lubka, Michael Bloom Organizations: U.S ., JPMorgan, Drivers, Bank, U.S, Services, Enclave Markets, U.S . Securities, Exchange Commission Locations: New York, Silicon, SVB, U.S, USDC

☆ This regional bank could soon become a 'massive market share taker,' JPMorgan says
▼ + stars: | 2023-07-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

There's a "new energy" now at New York Community Bank , JPMorgan says. New York Community Bank has undergone a significant transformation over the past year. After its merger with midwestern-based Flagstar Bank, NYCB acquired certain assets and liabilities of Signature Bank. It also absorbed teams from the former First Republic Bank, making it a home to 127 private banking teams in more than 10 cities combined. With regional banking stocks still "out of favor," investors can currently buy NYCB shares at an 11% discount to its peers in terms of tangible book value, he added.

Persons: NYCB, Tom Cangemi, Steven Alexopoulos, Alexopoulos, — CNBC's Michael Bloom Organizations: New York Community Bank, JPMorgan, Flagstar Bank, Signature Bank, First Republic Bank, York Community, First Republic

☆ One killed in bridge collapse in the Greek city of Patras
▼ + stars: | 2023-07-23 | by ( ) www.reuters.com time to read: 1 min

[1/4] People are seen at the site of a bridge that collapsed in Patras, Greece, July 23, 2023. Andreas Alexopoulos/Intime News via REUTERSATHENS, July 23 (Reuters) - Part of a bridge collapsed on Sunday along a ring road in Patras, Greece's third-largest city, killing one person and injuring eight, the fire brigade said. Fire brigade rescuers were on the scene to pull out any people trapped, fire brigade spokesman Ioannis Artopoios said. Part of the bridge was reduced to a mass of broken concrete slabs and iron rods and dozens of rescuers were working at the spot, footage from Greek media showed. Another fire brigade official said that the bridge had been closed last week due to reconstruction works.

Persons: Andreas Alexopoulos, Ioannis Artopoios, Angeliki, Frances Kerry Organizations: REUTERS, Fire, Thomson Locations: Patras, Greece, REUTERS ATHENS, Greece's

☆ JPMorgan sees 'material upside' for this once-troubled regional bank
▼ + stars: | 2023-07-20 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Western Alliance has put the spring's regional banking crisis in the rearview mirror and will be able to sustain its recent rally, according to JPMorgan. Shares of the bank rose more than 7% on Wednesday after the report was released. WAL 5D mountain Shares of Western Alliance rose sharply on Wednesday. But even with that rally, the stock is still down about 37% from where it ended February, before the regional banking crisis. The firm's new price target represents upside of nearly 30% from where Western Alliance's shares closed on Wednesday.

Persons: Steven Alexopoulos, Alexopoulos, FactSet's, — CNBC's Michael Bloom Organizations: Western Alliance, JPMorgan, Western Locations: Republic

☆ JPMorgan downgrades this regional bank stock, says earnings power looks challenged over the near term
▼ + stars: | 2023-06-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Rising expenses denting earnings growth create a murky near-term setup for shares of First Horizon , according to JPMorgan. Analyst Steven Alexopoulos moved to a neutral rating on the regional bank stock after a non-rating period, saying that the company's recent investor day failed to improve near-term confidence. The Wall Street firm previously held an overweight rating on shares and $20 price target. Shares of First Horizon faced significant pressure this year as the regional banking crisis unraveled and led to the collapse of Silicon Valley Bank and Signature Bank, and takeover of First Republic. Amid this backdrop, the stock's tumbled nearly 52%, with the firm's $13 price target suggesting 10% upside from Monday's close.

Persons: Steven Alexopoulos, Alexopoulos, CNBC's Michael Bloom Organizations: JPMorgan, Street, Horizon, Silicon Valley Bank, Signature Bank, First Locations: Silicon, First Republic

☆ This regional bank can benefit from the online betting boom, JPMorgan says
▼ + stars: | 2023-06-12 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

A small bank based in West Virginia has positioned itself as a key figure in the online betting world, and that first-mover advantage should have staying power, according to JPMorgan. "We find that the MVB team has been forming an ecosystem around the bank over the past five years serving the online gaming industry (which was legalized at the federal level in 2018). MVB Edge Ventures is a subsidiary of the bank, and it provides management oversight for the firm's tech investments. JPMorgan first initiated coverage of MVB with an overweight rating on Feb. 27 , before the failure of Silicon Valley Bank. MVBF YTD mountain Shares of MVB Financial have performed better than many other regional bank stocks in 2023.

Persons: Steven Alexopoulos, MVB, that's, — CNBC's Michael Bloom Organizations: JPMorgan, MVB, Edge Ventures, MVB Edge Ventures, Silicon Valley Bank, Regional Banking Locations: West Virginia, Silicon, MVB

☆ JPMorgan upgrades this regional bank stock with limited exposure to commercial real estate, sees 25% gain
▼ + stars: | 2023-06-05 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

JPMorgan thinks there's a buying opportunity in regional bank Valley National. The bank upgraded Valley National Bancorp to overweight from neutral Monday with a $10 per share price target. Analyst Steven Alexopoulos noted that Valley National's exposure to the commercial real estate market is reasonably below peers which could shield the firm from loan headwinds. Valley National shares have tanked more than 29% in 2023. The stock dropped with the broader regional banking space after the collapse of Silicon Valley Bank and Signature Bank earlier this year.

Persons: Steven Alexopoulos, Alexopoulos, —, Michael Bloom Organizations: JPMorgan, Bancorp, Silicon Valley Bank, Signature Bank Locations: Silicon

☆ Why bank stocks are so unstable
▼ + stars: | 2023-05-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

New York CNN —The financial sector has been churning in rough water since the shocking collapse of Silicon Valley Bank in March. Bank insiders see this and have been buying up shares of regional lenders, according to a report by Timothy Coffey, an analyst at Janney Montgomery Scott. The Oracle of Omaha said he remains cautious about holding bank stocks and that he has reduced his own exposure to the sector. The S&P 500 financial sector, however, is down more than 12% over the same period. Economists were hoping that this year would bring better news, but instead 2023 brought the collapse of three US regional banks and a subsequent lending squeeze.

JPMorgan made a bold call on Friday, upgrading three regional banks despite a renewed rout in the sector this week that the investment bank says is partly due to short sellers. "To this end, we believe a sell-off in regional banks has become a catalyst itself to cause further fear and selling pressure." The SPDR S & P Regional Banking ETF , down 15% through Thursday this week, was up 4% in premarket trading Friday. The banks that JPMorgan upgraded have been hit even harder than the broader sector. The regional bank stocks have fallen despite the fact that the companies reported lower deposit outflows than First Republic.

JPMorgan is moving to the sidelines on Comerica ahead of its first earnings announcement following the banking sector crisis. The bank lowered its rating on Comerica shares to neutral from overweight. However, he notes that if the Fed decides not to cut rates, Comerica could have increased revenue growth potential and see its stock outperform the sector. Comerica shares were up 1% during premarket trading Thursday. CMA YTD mountain Comerica shares —CNBC's Michael Bloom contributed to this report.

☆ Investors are pouring record amounts into money market funds as rates rise. How to pick the best one
▼ + stars: | 2023-03-28 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Investors in search of relative safety and attractive yields are piling into money market funds at record levels. In particular, they fled to government money market funds – which hold U.S. Treasurys – with retail assets surpassing $1.25 trillion. Here's what you should know as you browse: Three varieties In addition to government money market funds, there are also tax-exempt money market funds. She noted that there are also some state-specific money market funds, which might make sense for residents in high-tax jurisdictions. Money market funds also shouldn't be confused with money market accounts – which are interest-bearing accounts you can open at a bank.

☆ Wall Street is surprised by First Republic's falling stock. Here's how the bank compares to SVB
▼ + stars: | 2023-03-13 | by ( Jesse Pound | ) www.cnbc.com time to read: +6 min

FRC 1D mountain First Republic's stock was down by more than 75% at one point on Monday. The dramatic slide puzzled many Wall Street analysts, however, who still see First Republic as a strong bank even after SVB's demise. Here's a look at some of the pressure points for First Republic and how it compares to SVB. First Republic's deposit mix has likely changed in recent days, though the company has not released updated numbers. Another consideration is that First Republic's loans are largely residential real estate.

☆ Analysts downgrade SVB Financial as uncertainty around tech-focused bank looms
▼ + stars: | 2023-03-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Several Wall Street research firms downgraded SVB Financial after shares of the tech-focused bank plunged more than 60% during the previous trading session. King also lowered his price target to $100 from $174, which implies a 6% decline from Thursday's close price. The analyst expressed concern that the proposed capital raise would potentially be followed by more in the future. Long also removed his price target, which was previously $375. It had previously issued an outperform rating and price target of $360 per share.

☆ Silvergate Capital shares drop more than 50% after the crypto bank delays its annual report
▼ + stars: | 2023-03-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Shares of Silvergate Capital plummeted Thursday after the bank delayed the filing of its annual 10-K report as it evaluates events that have happened since the end of 2022. The company, which provides banking services to crypto businesses, was last lower by 52%. JPMorgan downgraded Silvergate shares Thursday along with other Wall Street analysts. Silvergate is has been facing several challenges since the end of last year, following the blowup of crypto exchange FTX. The crypto services company said in a statement that has de minimis corporate exposure to Silvergate and that it has stopped accepting or initiating payments to or from Silvergate.

☆ JPMorgan says little-known West Virginia fintech is positioned as 'bank of choice' for online gaming
▼ + stars: | 2023-02-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

JPMorgan says a little-known microcap financial holding company that began as a West Virginia community bank but is transitioning into a fintech is poised to become "the Silicon Valley Bank" of the online gaming industry. MVB Financial, with a market value of a little more than $330 million, is headquartered in Fairmont, West Virginia, population 18,000, about 70 miles south of Pittsburgh. Yet MVB, headed by CEO Larry Mazza, currently holds an 85% market share in banking for online gaming. "Over time, we see MVB as becoming 'the Silicon Valley Bank' of the online gaming industry," JPMorgan wrote. What's more, MVB Bank also provides banking services to support Credit Karma Money Spend and Save accounts.

☆ JPMorgan downgrades Silvergate Capital, says crypto bank's huge withdrawals can hurt stock long term
▼ + stars: | 2023-01-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Higher-than-expected deposit withdrawals by customers at Silvergate Capital are ringing the alarm at JPMorgan. Analyst Steven Alexopoulos downgraded shares of the cryptocurrency company to neutral from overweight, citing concerns as client deposits decline. Silvergate on Thursday disclosed preliminary fourth-quarter results that showed a 68% drop in total deposits as FTX erupted in scandal. The company also shared a loss of $718 million as it sold $5.2 billion of debt securities to raise cash. Shares of Silvergate plummeted more than 88% in 2022 and an additional 28% since the start of 2023.

Search resuls for: "Alexopoulos"

25 mentions found