Latest news with #BrianForan
Business Insider
7 hours ago
- Business
- Business Insider
Huntington Bancshares (HBAN) Gets a Buy from Truist Financial
Truist Financial analyst Brian Foran maintained a Buy rating on Huntington Bancshares (HBAN – Research Report) yesterday and set a price target of $19.00. The company's shares closed yesterday at $15.48. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Foran is a 3-star analyst with an average return of 3.4% and a 51.72% success rate. Foran covers the Financial sector, focusing on stocks such as Synchrony Financial, Capital One Financial, and Regions Financial. Currently, the analyst consensus on Huntington Bancshares is a Moderate Buy with an average price target of $17.65, a 14.02% upside from current levels. In a report released on June 11, RBC Capital also maintained a Buy rating on the stock with a $18.00 price target. HBAN market cap is currently $22.87B and has a P/E ratio of 12.10. Based on the recent corporate insider activity of 248 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HBAN in relation to earlier this year. Last month, Helga Houston, the Senior Exec. V. P of HBAN sold 42,344.00 shares for a total of $623,303.68.
Business Insider
7 hours ago
- Business
- Business Insider
Comerica (CMA) Receives a Hold from Truist Financial
In a report released yesterday, Brian Foran from Truist Financial maintained a Hold rating on Comerica (CMA – Research Report), with a price target of $61.00. The company's shares closed yesterday at $55.00. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Foran covers the Financial sector, focusing on stocks such as Synchrony Financial, Capital One Financial, and Regions Financial. According to TipRanks, Foran has an average return of 3.4% and a 51.72% success rate on recommended stocks. In addition to Truist Financial, Comerica also received a Hold from Piper Sandler's Scott Siefers in a report issued on June 11. However, on June 12, Morgan Stanley maintained a Sell rating on Comerica (NYSE: CMA). CMA market cap is currently $7.29B and has a P/E ratio of 10.51.
CNBC
13-05-2025
- Business
- CNBC
Midcap stocks are seeing a resurgence. These names have solid dividend histories
Midcap stocks are suddenly outperforming – and investors interested in their growth prospects might find a few good dividend payers too. The SPDR S & P Midcap 400 ETF (MDY) just scored its fifth straight winning week. The fund is off to a solid start this week, up 4% over the past two days, after the U.S. and China agreed to suspen higher tariffs for 90 days . Accords on tariffs, like the one reached with the United Kingdom and potentially in the works with China, bode well for smaller companies, which tend to be particularly sensitive to the domestic economy compared to their larger counterparts. "We're engaging with companies that are exposed to tariffs to understand their contingency plans," said Janus Henderson midcap portfolio manager Brian Demain in a recent article . "Many companies are implementing easier fixes they can make quickly, even though they come with cost headwinds," he added. Some economists on Wall Street are also starting to dial back their recession odds as the U.S. paves the way for agreements with trading partners. Goldman Sachs, for example, cut back its 12-month recession forecast to 35% from 45% following the tentative deal with Beijing. Investors hoping to capitalize on this potential tailwind for midcaps and scoop up some income at the same time may be interested in the Proshares S & P MidCap 400 Dividend Aristocrats ETF (REGL) . The ETF is up 6.6% in the past month, including reinvested dividends, according to FactSet data, and its constituents include companies that have grown dividends for at least the past 15 years. CNBC Pro used FactSet data to screen inside the REGL ETF for stocks that meet the following criteria: A dividend yield of at least 1.5%. Buy ratings from at least 51% of the analysts covering them. At least 10% upside based on consensus price targets. Here are the names we found. UMB Financial Corp made the cut. The company is rated buy or overweight by nearly 73% of the analysts covering the stock, and consensus price targets call for nearly 12% upside from current levels. Shares are down about 4%, and the stock has a dividend yield of 1.5%. Truist Financial analyst Brian Foran rated UMB a buy in a report on Monday, noting, "They are a bank with strongholds in niche fee areas, diverse geographic and sector exposures, and peer-leading fee and [loan-to-deposit] ratios." Earlier this year, UMB closed on its acquisition of Heartland Financial, a move that boosted its total assets by more than 30%, to about $68 billion. "Heartland's relative strength in the consumer segment such as mortgages and cards will help diversify the balance sheet, and UMB's system & scale help these areas grow more effectively," Foran added. Reinsurance Group of America is also showed up on the screen. In all, about 77% of the analysts covering the name rate it the equivalent of buy, with consensus price targets calling for upside of nearly 16%. Shares are down roughly 3% in 2025, and the stock pays a dividend yield of 1.7%. Piper Sandler analyst John Barnidge stuck with his overweight rating on the stock after RGA posted first quarter operating income of $5.66 per share, topping the FactSet consensus call for $5.31 per share. "This is one of the rare names in lifecoland where we have stability in earnings this quarter, which we find very much to be RGA-specific as the traditional business grows greater than expected and continues to deliver favorable claims experience," he said. As a reinsurer, RGA essentially "backs" other insurance companies, providing coverage to help transfer mortality and morbidity risk. "1Q25 demonstrated the mortality-as-a-service flywheel is not just intact but has led to stronger top-line growth in the higher multiple traditional mortality business," Barnidge added. Finally, Essential Utilities turned up on CNBC's list. The company provides drinking water, wastewater treatment infrastructure and natural gas. Shares are up about 3% this year, and the company offers a dividend yield of 3.5%. Essential Utilities on Monday posted first-quarter earnings of $1.03 per share on revenue of $784 million, encouraging Janney Montgomery Scott analyst Michael Gaugler to reiterate a buy rating. "Contributing to the 7.5% increase in water revenues and ~46% increase in natural gas sales were the following: additional revenues from regulatory recoveries, purchased gas costs and higher natural gas volumes," he said in a Monday report. Gaugler added that there have been several data center announcements for facilities to be located within Essential Utilities' natural gas service territory in western Pennsylvania. "All in, it looks like positive momentum building in terms of earnings and future capex opportunities," he said. Other stocks that appeared in CNBC Pro's screen included Equity LifeStyle Properties , Prosperity Bancshares and Unum Group . —CNBC's Fred Imbert contributed reporting.
Yahoo
22-04-2025
- Business
- Yahoo
Fifth Third price target lowered to $44 from $52 at Truist
Truist analyst Brian Foran lowered the firm's price target on Fifth Third (FITB) to $44 from $52. The firm lowered its 2025 and 2026 EPS estimates to $3.50 and $4.15, respectively, given increased volatility in fees, slower loan and deposit growth, and higher provisions from an increased recession risk. Truist keeps a Buy rating on the shares given Fifth Third's differentiated southeast growth story and diversified commercial fee capabilities. Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on FITB: Disclaimer & DisclosureReport an Issue Fifth Third price target lowered to $42 from $45 at DA Davidson Hold Rating for Fifth Third Bancorp Amid Mixed Economic Signals and Adjusted Growth Guidance Fifth Third price target lowered to $42 from $47 at Keefe Bruyette Fifth Third price target lowered to $51 from $56 at Barclays Fifth Third price target lowered to $48 from $50 at Wells Fargo Sign in to access your portfolio
Yahoo
28-03-2025
- Business
- Yahoo
US Banks Finance Their Own Competition to Tune of $1 Trillion
(Bloomberg) -- One of American banks' fastest-growing businesses is lending to the very companies trying to grab their market share. They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Why Did the Government Declare War on My Adorable Tiny Truck? How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. These US Bridges Face High Risk of Catastrophic Ship Strikes Traditional bank lending to non-bank financial institutions like private equity firms, hedge funds and private credit shops more than doubled in the past five years, according to data analyzed by Bloomberg. That 16% annualized rate far surpassed their lending to categories including agriculture, credit cards, commercial and industrial companies as well as foreign governments, the data show. The phenomenon underscores the seismic shift taking hold in US finance, where less-regulated lenders have stepped into a void opened up after the financial crisis prompted banks to slow certain types of lending. As those firms proliferated, traditional banks eager to capture the spoils have gotten in on the action, with lending to companies often dubbed shadow banks hitting $1 trillion last year. 'The banks are caught in a weird dance,' said Brian Foran, who covers bank stocks at Truist Securities Inc. 'In effect, banks are financing their own competition.' Lending to non-depository financial institutions — which also include mortgage lenders, student loan providers and real estate investment trusts — offers the prospect of additional revenue for banks, many of whom have been squeezed amid heightened competition for deposits. In theory, lending to such intermediaries partially shields the banks from the risk of any default by individual companies. One Providence, Rhode Island-based lender says it's benefitting from the shift. Citizens Financial Group Inc. has more than doubled its roster of private equity customers to 175 since 2014, according to Chief Executive Officer Bruce Van Saun. Many of those clients expanded into private credit using financing from Citizens, which they lent to their portfolio companies, he said in an interview. 'We're making more money from the growth in private credit than we're losing in direct head-to-head competition with them,' Van Saun said. Still, the increase in bank loans to NDFIs has long worried industry watchdogs. They've tried to get a better grasp on the risks, amid fears the deepening relationship could make banks more vulnerable to liquidity or credit shocks. A report by the Federal Reserve Bank of Boston offers one glimpse into the rapid expansion. The 31 large banks that were stress tested last year committed about $300 billion of loans to private credit and private equity funds in 2023, up from $10 billion in 2013, the research shows. In a recent step, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Federal Reserve started requiring banks to break out their exposure to NDFIs in more detail, citing the fast growth and heightened risks. Reporting methods 'do not provide granularity on specific NDFI exposure, such as direct and off-balance sheet exposure,' among other information, the agencies said in a 2023 proposal seeking comment from the industry. Banks had to comply with the new rules for the first time earlier this year. Bloomberg's analysis of that data, gathered from the call reports of approximately 4,500 FDIC-regulated banks, showed their lending to NDFIs accounted for 8.5% of all their loans at the end of last year, up from less than 1% in 2010. At the year end, mortgage lenders comprised about 20% of the pool while private equity firms borrowed about 18%. Almost 19% of the loans went to 'business credit intermediaries,' a category analysts said should include private credit — a market that's more than tripled to $1.6 trillion over the past decade. 'Anecdotally, private credit is a big share of this pile,' said Chris Stanley, who leads the banking industry practice at Moody's Analytics. 'We're at the start of a takeoff, not a landing.' As the likes of Apollo Global Management and Blackstone Inc. expand, the competition will only intensify. Non-bank lenders have often overtaken traditional banks as the largest source of corporate loans, particularly for midsized firms, Boston Consulting Group said in a report this month. 'It is hard to imagine banks gaining back the share lost, as the non-banks have become so entrenched,' Foran wrote in a note. 'In C&I, private credit isn't exactly two guys and a dog buying M&A flow from a PE firm, the large private credit players are increasingly organized like a bank with relationship managers and industry verticals and the like.' In theory, non-bank lenders like private credit firms transfer risks outside the banking system, because they raise long-term funds from investors which match the duration of their loans, avoiding the kind of liquidity mismatches that flared up two years ago with the collapse of several regional lenders. But for private credit firms at least, a recent slow down in fundraising may increase their reliance on bank loans, somewhat undermining the premise that such risks are safely kept at bay. 'The inevitability is that funding is going to keep coming from the banking system,' said Steven Kelly, associate director of research on financial stability at the Yale School of Management. 'If it continues at its current pace, it will tip into risk-increasing.' Classifying Loans Even with the new rules requiring more detailed classification of NDFI loans, the data remains a little difficult to parse. Muddying things are how banks chose to classify their loans: It's not entirely clear what the business credit intermediaries category — the recipient of $196 billion of bank loans — contains. There is an 'other' category to which the banks allocated the biggest chunk, or 33% of their non-bank loans. In fact, JPMorgan Chase & Co. assigned all $114 billion of its NDFI loans to that group, while PNC Financial Services Group, with $23 billion, did the same. Representatives for JPMorgan and PNC declined to comment. All the banks have a two-quarter grace period to report the data on a best effort basis and will have to report NDFI data 'comprehensively' from the end of June. However the data is sliced and diced, the expansion of NDFI lending is clear, according to Terry McEvoy, analyst at Stephens Inc. 'Higher capital requirements and growing regulation within the banking sector contributed to NDFIs stepping in and absorbing loan demand,' McEvoy wrote in a note last month. 'Less regulation and faster adoption of emerging technology have also led to outsized growth in NDFIs.' In another bid to understand the risks, the Fed has tacked on a requirement to the annual stress tests, a set of exams which simulate how banks respond to adverse shocks. It has asked how banks would respond to credit and liquidity shocks from the non-bank sector, and they have to simulate a scenario where their five largest equity hedge fund counterparties experience unexpected defaults. While such a grave scenario hasn't come to pass, market swoons like the recent one can put investors on edge. If a rout morphs into a sustained slump, asset price declines can trigger margin calls forcing investors to step up more collateral and, at the more extreme end, liquidate their holdings at a discount. That forced selling can spiral — and banks now have a deeper connection to those players. Some have similar concerns about counterparty risks that the private credit sector could pose to banks. 'This market exists for a reason,' said Jeff Davis, a managing director at Mercer Capital. 'But it hasn't been truly tested in a downturn.' Business Schools Are Back Google Is Searching for an Answer to ChatGPT A New 'China Shock' Is Destroying Jobs Around the World The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? Israel Aims to Be the World's Arms Dealer ©2025 Bloomberg L.P.
