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☆ Baird downgrades JPMorgan Chase to sell, sees stock dropping nearly 20%
▼ + stars: | 2024-11-07 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

Analyst David George downgraded the stock to underperform from neutral. He believes that JPMorgan is over-earning on both net interest income and credit and finds the stock expensive at current trading levels. "We know we are fighting the tape here, but believe it makes sense to sell the stock." JPM YTD mountain JPM, year-to-date George also noted that, even with a potentially more friendly regulatory environment under a second Trump administration, JPMorgan Chase may not grow its buyback program from here. LSEG data shows 15 of the 24 analysts covering the stock have a buy or strong buy rating.

Persons: Baird, David George, George, Trump, JPMorgan Chase, buybacks Organizations: JPMorgan Chase, JPMorgan

☆ Banks prefer a less aggressive Fed over the near term, says Baird's David George
▼ + stars: | 2024-10-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBanks prefer a less aggressive Fed over the near term, says Baird's David GeorgeDavid George, Baird senior research analyst of U.S. banks, joins CNBC's 'Squawk Box' to discuss bank earnings kicking off this week, what the group would like from the Fed going forward, and more.

Persons: Banks, Baird's David George David George, Baird

☆ Man Behind California Forever, Silicon Valley's City of the Future
▼ + stars: | 2024-05-05 | by ( Hugh Langley | Adam Rogers | ) www.businessinsider.com time to read: +29 min

He sees California Forever. And if he can't undo the damage, there may never be a California Forever. California Forever may be a subdivision, but it's precisely the kind of subdivision America needs right now. But here's the thing: California Forever may be a subdivision, but it's precisely the kind of subdivision America needs right now. Places like California Forever aren't being opposed by the people who are desperate for a place to live.

Persons: Jan Sramek's, Goldman Sachs, Sramek, Reid Hoffman, Laurene Powell Jobs, Marc Andreessen —, They've, Christie Hemm, Peter Thiel, Jan Sramek, Jan, Thiel, Goldman, CheatSheet, Sramek's, hadn't, Jonas Rave, who's, —, Guy Saidenberg, Evernote, Marc Andreessen, Jane Jacobs, He's, he'd, Robert Moses, growth.y Christie Hemm, Flannery, Bronson Johnson, David George, Andreessen Horowitz, Marilyn Farley, Farley, Solano County's, Kathleen Threlfall, Bill Mortimore, California Forever's, Jessica Christian, he's, Lyle Lanley, Solano, Sam Houston, weren't, Gabriel Metcalf, You've, John Garamendi, Garamendi, isn't, they'll, latte, Christie, Travis, I've, aren't, They're Organizations: Silicon, California, BI Development, University of Cambridge, London School of Economics, Party, Rising Star, Facebook, York, Sramek's, BI Sramek, Google, American, Planners, Sacramento -, Travis Air Force Base, Area, titans, Farmers, councilwoman, California Forever, Sacramento Municipal Utility District, Air Force, Flannery Associates, Disney, San Francisco, Vallejo Naval, Historical Museum, Rep, BI, Solano, Sierra, Goldman Locations: San Francisco, It's, Sramek, California, Rio Vista, Solano County, Napa, Sacramento, Silicon Valley, America, London, Zurich, England, Czech Republic, Dřevohostice, York, British, Eastern Europe, Cambridge, Bay Area, Hayes Valley, America's cutest, Atlanta, Phoenix, Copenhagen, Barcelona, New York, Sacramento - San Joaquin, San Francisco Bay, Lake Tahoe, Toledo , Ohio, Silicon, Google's, Toronto, Big Tech, China, Calif, Springfield, Vallejo, He's, Atherton, Foreverville, Fairfield, Austin, Solano, Valley, Europe

☆ Banks are well positioned for CRE concerns, says Baird's David George
▼ + stars: | 2024-04-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBanks are well positioned for CRE concerns, says Baird's David GeorgeDavid George, Baird bank analyst, joins 'Closing Bell' to discuss the banking sector and which banks he's looking at as winners in the sector.

Persons: Banks, Baird's David George David George, Baird

☆ Shares of Wells Fargo and JPMorgan slide after earnings
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShares of Wells Fargo and JPMorgan slide after earningsDavid George, Baird senior analyst, joins ‘Squawk Box’ to discuss the quarterly earnings results from JPMorgan and Wells Fargo.

Persons: David George, Baird Organizations: Wells, JPMorgan Locations: Wells Fargo

☆ Big bank earnings results 'prove the resiliency of their business models': Baird's David George
▼ + stars: | 2023-10-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig bank earnings results 'prove the resiliency of their business models': Baird's David GeorgeDavid George, Baird senior analyst, joins 'Squawk Box' to discuss the quarterly earnings results from big banks, what the key takeaways are for investors, state of regional banks, and more.

Persons: Baird's David George David George, Baird

☆ Opinion | The Birds Are Singing, but Not for Me
▼ + stars: | 2023-07-22 | by ( David George Haskell | ) www.nytimes.com time to read: +2 min

Graphs from my audiologist show hearing loss across all sound frequencies, but especially for high sounds, so I was expecting this moment. Yet my hearing loss is now worse than most of my cohort of friends in their mid-50s, a quirk of my genes. The hair cells in our ears are descendants of the wiggly cilia hairs that animate single-celled creatures swimming around in ponds and ocean water. Sudden shocks like gun blasts kill inner-ear hair cells. Instead, aging undermines hair cells.

Persons: I’ve, I’m Organizations: National Institutes of Health

☆ The bad loan term that's back for banks trying to spot a recession
▼ + stars: | 2023-04-23 | by ( Tim Mullaney | ) www.cnbc.com time to read: +4 min

If there wasn't enough banking jargon to blind you, it's time to learn a new piece of it: Welcome to the industry's era of the "criticized loan." "Criticized loans could be paying or performing but a loan could be singled out because of its collateral." At Bank of America, criticized loans to office building projects rose to $3.7 billion out of $19 billion in office loans. But office buildings represent only a quarter of the bank's commercial real estate loans, and all CRE is just 7% of the bank's total loans and leases. "It's almost impossible for us to see office [losses] more than 4 or 5 percent of office loans.

☆ The fallout from empty offices is coming. Here's where investors could see the pain
▼ + stars: | 2023-04-14 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +12 min

As concerns about regional banks roiled markets, investors weighed another threat: commercial real estate. Also, layered on top of the property value pressure, are the tightening credit conditions brought on by the recent turmoil in the banking sector. There is no doubt this scenario is a toxic mix for the capital-intensive real estate industry. At the moment, many experts say the real estate market isn't causing trouble for banks, but fears about the financial system are likely worsening conditions in real estate because liquidity is being reduced. The biggest concern is seeing how many other companies join Brookfield , Blackstone and Pimco in handing back the keys on office properties, Clancy said.

☆ Zion bank is trading at less than five times earnings with room to grow, says Baird's David George
▼ + stars: | 2023-04-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailZion bank is trading at less than five times earnings with room to grow, says Baird's David GeorgeBaird's David George joins 'The Exchange' to discuss stock factors contributing to Zion Bank's weak valuation, the contagion in regional banks, and credit deterioration.

☆ Watch CNBC's full interview with Baird's David George
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Baird's David GeorgeDavid George, senior bank analyst at Robert W. Baird, joins ‘Closing Bell’ to discuss why the company upgraded its rating on U.S. Bancorp and more.

☆ Here's why Baird upgraded U.S. Bancorp
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Baird upgraded U.S. BancorpDavid George, senior bank analyst at Robert W. Baird, joins 'Closing Bell' to discuss why the company upgraded its rating on U.S. Bancorp and more.

☆ This stock can rally more than 50% as people turn to larger regional banks after SVB collapse, Baird says
▼ + stars: | 2023-03-20 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

U.S. Bank could be a beneficiary as the bank crisis pushes depositors to move holdings to larger regional banks, according to Baird. George's price target of $52 implies the stock could rally 57.8% from where it closed Friday. The SPDR S & P Regional Banking ETF (KRE) ending last week down 14.3%, while US Bank lost 18.9% over the course of last week. George said US Bank and other "super regionals," a term for larger regional banks, will likely gain deposits as customers look away from smaller banks amid concerns of future bank runs. USB KRE 5D mountain US Bank and KRE ETF — CNBC's Michael Bloom contributed to this report.

☆ This is the best buying opportunity in retail banks in years, Baird says
▼ + stars: | 2023-03-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

The rout in regional banks has resulted in one of the best buying opportunities in "many years," according to Baird. KRE 5D mountain KRE's five-day performance Regional bank stocks nosedived after the failure of Silicon Valley Bank, even after U.S. regulators backstopped all depositors in the banks. George noted that while liquidity movement is generally hard to predict, the average retail or corporate customer of most regional banks is not at all similar to those at SVB. Among his coverage universe, he has overweight ratings on 11 regional bank stocks. But even after Moody's comments, bank stocks were still recovering some lost ground on Tuesday, including Fifth Third Bancorp shares, which rose nearly 3%.

☆ The lower the bank stocks go, the less risky they are, says David George, sr. bank analyst at Robert W. Baird
▼ + stars: | 2023-03-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe lower the bank stocks go, the less risky they are, says David George, sr. bank analyst at Robert W. BairdDavid George, senior bank analyst at Robert W. Baird, joins 'Power Lunch' to discuss concerns over Silicon Valley Bank contagion, the market response to SVB's downfall and how to invest in the banking sector.

☆ 2022 didn’t go as expected for bank investors. How to avoid pitfalls in the sector in 2023
▼ + stars: | 2022-12-19 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

Banks finally got a long-awaited boost to interest rates this year after a decade of toiling in a low-rate environment. A year ago, big lenders including Bank of America and Wells Fargo were the top picks of the analyst community because they were expected to benefit from higher rates . Loan growth coupled with vast deposit bases would drive gains in interest income as the Federal Reserve hiked rates, the thinking went. In a downturn, banks are exposed to surging loan defaults, reduced loan demand and write-downs on assets. Veteran analyst Mike Mayo of Wells Fargo said that bank stocks could pop 50% in 2023 by proving their resilience in a recession.

A Washington state man who called Buffalo, New York, grocery stores threatening to shoot Black people a month after a racist mass shooting pleaded guilty to a hate crime Monday, prosecutors said. George called multiple grocery stores on June 19, June 20 and June 21 and threatened to shoot Black customers, the U.S. attorney’s office for Western Washington said in a statement. George pleaded guilty Monday to a count of interstate threats and a count of interference with a federally protected activity, which is a hate crime, prosecutors said. In the calls to the Buffalo stores, George said he was nearby and had assault rifles, and he threatened to shoot Black people, according to a plea agreement. In one of the calls, George said he could "pick people off" from a parking lot.

☆ Bairds’ David George on the latest in credit and consumer spending
▼ + stars: | 2022-10-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBairds’ David George on the latest in credit and consumer spendingDavid George, Baird, joins CNBC's "Fast Money" to discuss the state of the U.S. consumer ahead of Thursday's important inflation report.

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