Opinions
Darren Sissons
BB&T Corp.
BBT-N
BUY
May 05, 2017
$43.730
Stock price when the opinion was issued
Financial Services
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TOP PICK
A well run eastern seaboard bank focusing on North Carolina. In the process of buying another US SE bank -- the first merger of two major banks in the US since the financial crisis. The market likes the deal as both share prices rose on the announcement. It will become the 6th largest US bank. Yield 3.27%. (Analysts’ price target is $55.55)
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He owns BBT-N. The company is involved in a merger with Suntrust. It is a franchised bank on the east coast where there is good economic and demographic growth. Even during the financial crisis, they managed affairs well. The US banks have been stuttering as the yield curve has become flat. He would still be a buyer here.
Financial Services
TOP PICK
A super-regional bank in North Carolina. It is buying/merging with another major player in the US Southeast. During the financial crisis it was in great financial shape. The stock has done well despite a lower interest rate environment. Yield 3.30% (Analysts’ price target is $55.89)
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We are seeing less regulatory glare under the Trump administration. This means we could see a lot more upside in US banks, so a little bit of money has been taken from here in the last little while. Excellent balance sheet. The payout ratio is about 50% of what it was before the global financial crisis. Thinks there is a lot of upside here.