Latest news with #Mihelic
Business Insider
3 days ago
- Business
- Business Insider
RBC Capital Reaffirms Their Sell Rating on Laurentian Bank (LRCDF)
In a report released yesterday, Darko Mihelic from RBC Capital maintained a Sell rating on Laurentian Bank (LRCDF – Research Report), with a price target of C$25.00. 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 According to TipRanks, Mihelic is a 5-star analyst with an average return of 7.2% and a 60.22% success rate. Mihelic covers the Financial sector, focusing on stocks such as Great-West Lifeco, Sagicor Financial, and Bank Of Montreal. In addition to RBC Capital, Laurentian Bank also received a Sell from National Bank's Gabriel Dechaine in a report issued on May 16. However, yesterday, Jefferies maintained a Hold rating on Laurentian Bank (Other OTC: LRCDF). The company has a one-year high of $22.57 and a one-year low of $16.46. Currently, Laurentian Bank has an average volume of 8,937.
Business Insider
22-05-2025
- Business
- Business Insider
RBC Capital Sticks to Their Buy Rating for Equitable Group (EQGPF)
RBC Capital analyst Darko Mihelic maintained a Buy rating on Equitable Group (EQGPF – Research Report) on May 20 and set a price target of C$147.00. The company's shares closed last Tuesday at $69.09. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter According to TipRanks, Mihelic is a 5-star analyst with an average return of 7.2% and a 60.72% success rate. Mihelic covers the Financial sector, focusing on stocks such as Sagicor Financial, Bank Of Montreal, and Bank Of Nova Scotia. In addition to RBC Capital, Equitable Group also received a Buy from CIBC's Paul Holden in a report issued on May 20. However, on May 16, National Bank maintained a Hold rating on Equitable Group (Other OTC: EQGPF). The company has a one-year high of $80.73 and a one-year low of $57.75. Currently, Equitable Group has an average volume of 2,348. Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EQGPF in relation to earlier this year.
Yahoo
01-03-2025
- Yahoo
Troopers searching for Dodge Ram suspected in Butler County hit-and-run
Pennsylvania State Police in Butler County are asking for help from the public in a hit-and-run investigation. Troopers are trying to locate a dark colored Dodge Ram they say was involved in a hit-and-run crash around 6 a.m. on State Route 356 and Fisher Road around 6 a.m. The truck will have heavy front-end damage. Anyone with information about the crash or the truck should call the Butler barracks at 724-284-8100 and ask to speak with Trooper Mihelic. Download the FREE WPXI News app for breaking news alerts. Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW
Yahoo
10-02-2025
- Business
- Yahoo
'That is a lot of capital': TD shares jump on Schwab stake sale
Shares of Toronto-Dominion Bank ( jumped Monday morning on news the company will sell its remaining stake in Charles Schwab (SCHW), with around $8 billion of the proceeds going towards a share repurchase. In a note to investors, RBC analyst Darko Mihelic says there will be sharp focus on TD's intentions for the remaining proceeds, which analyst estimates put at $12 billion or more. 'The rest of the extra capital will be deployed in its business,' Mihelic said. 'That is a lot of capital to deploy organically on top of existing capital and any capital that the bank can generate through normal course earnings.' TD shares were trading at $85.80 on the Toronto Stock Exchange as at 11 a.m. Monday, up over 3.5 per cent from the closing price last Friday. Mihelic's take on the move is positive, writing that RBC never saw TD's stake in Schwab as 'critical.' The transaction 'frees up capital and resources to be redirected in parts of the business that generate stronger returns and furthers TD's strategy.' Canaccord Genuity analyst Matthew Lee also praised the plan. 'Overall, we view this transaction favourably,' he wrote, 'as it represents the first step in TD's strategic review to reallocate capital, which is expected to be completed by mid-2025.' Mihelic writes that there will be questions about TD's plans for the proceeds during a conference call scheduled for Tuesday. He speculates on some potential destinations for the money, including: Deployment of capital to TD Cowen, the U.S.-headquartered investment bank that TD acquired in 2023; Funding 'aggressive growth in Canada'; Investing in other regions (Mihelic lists Europe as an example); Using it for more balance-sheet repositioning or other writedowns. TD has thus far been vague about its intentions, with CEO Raymond Chun saying in a statement only that the bank 'will invest the balance of the proceeds in our businesses to further support our customers and clients, drive performance and accelerate organic growth." Chun, who began his term as CEO at the start of the month, has been leading a broad strategic review of the business, triggered by a money–laundering scandal at the bank's U.S. retail operations that resulted in significant penalties. Jefferies Financial Group analyst John Aiken writes that TD's move 'in theory is a net neutral impact on earnings,' with the TD share buyback cancelling out 'almost the entire impact' of lost earnings contributions from Schwab. 'Whether this sets TD up for a different strategy in U.S. wealth management will be seen when its strategic review is completed and revealed to the street,' Aiken wrote. John MacFarlane is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jmacf. Download the Yahoo Finance app, available for Apple and Android. Sign in to access your portfolio
