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Opinions Jason Donville
Western Financial Group Inc.WES.TOSELLOct 16, 2009
Not a big fan of this one. His key metric is return on equity or return on capital. This one doesn't have a great track record of earning good returns on capital. Strategy tends to be all over the map.
Jason DonvilleUnknown
$2.35
Stock price when the opinion was issued
insurance
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TOP PICK
Have a chain of insurance agencies through the West. Also have life insurance and general insurance companies as well as a small bank, which has been holding them back. Expecting a solution of this in the next year. Reported earnings today that were in line with expectations.
Michael SprungOwned
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BUY
Likes this one quite a bit. Stock price has come off because of the general slowdown in the economy and the other financial stocks. The bank they started a few years ago was a drag on earnings, but is no longer. Their insurance company is profitable. Continuing to expand their agency network throughout the west. Well positioned. Just shored up their balance sheet with another convertible preferred about a month ago. 6.7% yield.
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PAST TOP PICK
(Top pick Nov 14/06. Up 56%) Has a lot of perceived rapid growth a head of it. Happy to hold onto it.
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BUY ON WEAKNESS
Likes this stock very much. Starting to get coverage from the larger firms now. Western Bank is no longer a drag on their earnings. Western Life is making money for them and still has opportunities to expand their agency network. Prefers to buy under $5.
Michael SprungOwned
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PAST TOP PICK
(A Top Pick Nov 14/06. Up 15.8%.) Continuing to do well. Just reported 65% profits. Starting to get noticed by analysts.
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PAST TOP PICK
(A Top Pick Nov 14/06. Up 18.1%.) Well positioned in the West and is expanding into B.C. good business plan and good execution. Long-term hold.
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TOP PICK
A very well run western-based financial group. Owns a lot of insurance agencies, primarily in Alberta. Tend to be in smaller centres. Expect earnings could come in around $.20 and should expand as their bank begins to contribute more.
Michael SprungOwned
insurance
TOP PICK
Trades at a premium to BV, but not that huge for a financial stock. Owns a lot of insurance agencies in rural western provinces. Also operates Western Life Insurance and a small bank that they just got a charter for. Good price.
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