Being acquired by Bank of America (BAC-N) through shares. If you own, take the shares. In a couple of years, it will be higher and in the meantime you'll get a decent yield.
This whole sector is dangerous. Its saviour is eventual U.S commercial bank transition to Canadian form (Citigroup owns big brokerage firm) There is further downside.
On a price to book basis got down to the level that it bottomed to in 1998. The big question that is overhanging everybody's mind is, what is the integrity of their balance sheet like. Thinks there is going to be a bloody battle on legal grounds.
Got rid of their CEO who they replaced with a man that used to run the NYSE. You'll have to wait till these things bottom out. You can start buying them slowly.
A great financial at a discounted price. Made some mistakes. Got into the mortgage related businesses to deeply and are now paying the penalty. Cheap at 1.5X Book.
He has a model price of $86.44, a 60.5% positive differential. They finally have a CEO, which is good news. Financial CEO’s are being replaced by Risk Managers, so going forward they will be building their balance sheets.
The sell off has probably been a little overdone, but there is still quite a bit of risk in this sector. Still not clear as to the extent of the damage.
They kicked out the CEO and he is waiting to see who the replacement is. Doesn't know why it is taking them so long. His model price is $93.54, a 46% positive differential. This is the June balance sheet so the $2 billion loss is not reflected. $61.50 would be an outright screaming Buy.