Latest news with #MikeMayo
Bloomberg
7 hours ago
- Entertainment
- Bloomberg
Single Best Idea: Mike Mayo
Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature a conversation with Mike Mayo. Watch Tom and Paul LIVE every day on YouTube:
CNBC
a day ago
- Business
- CNBC
Wells Fargo's Mike Mayo on state of the banking sector, future of regulation and top bank stock
Mike Mayo, Wells Fargo Securities senior bank analyst, joins 'Squawk Box' to discuss the state of the banking sector, what to expect from the Fed conference on bank regulation today, future of private credit, his top bank stock pick, and more.
Business Insider
7 days ago
- Business
- Business Insider
Wells Fargo Reaffirms Their Sell Rating on M&T Bank (MTB)
Wells Fargo analyst Mike Mayo maintained a Sell rating on M&T Bank yesterday and set a price target of $185.00. The company's shares closed yesterday at $192.52. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Mayo is a 5-star analyst with an average return of 14.8% and a 69.75% success rate. Mayo covers the Financial sector, focusing on stocks such as Citigroup, Bank of America, and State Street. M&T Bank has an analyst consensus of Moderate Buy, with a price target consensus of $211.81. Based on M&T Bank's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.17 billion and a net profit of $584 million. In comparison, last year the company earned a revenue of $3.3 billion and had a net profit of $531 million Based on the recent corporate insider activity of 98 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 MTB in relation to earlier this year. Last month, Robert Sadler, a Director at MTB sold 6,700.00 shares for a total of $1,229,584.00.
Yahoo
27-06-2025
- Business
- Yahoo
JPMorgan, Goldman Sachs' new highs: A 'good sign' for the economy
Nvidia's (NVDA) record run isn't the only big move on Wall Street this week: JPMorgan Chase (JPM) and Goldman Sachs (GS) have also hit all-time highs. Truist co-chief investment officer and chief market strategist Keith Lerner, Yahoo Finance Senior Business Reporter Ines Ferré, and Yahoo Finance Senior Reporter Allie Canal join Opening Bid host Brian Sozzi to break down what's behind the surge in bank stocks and how investors should approach the sector. To watch more expert insights and analysis on the latest market action, check out more Opening Bid here. While you have been paying attention to Nvidia's record highs this week, JP Morgan and Goldman Sachs are also at all-time highs as well. The drivers you ask? Even if you didn't ask, I'm going to tell you. No signs of a rate cut from the Fed, more volatility in the market, and likely easing financial regulations. Veteran bank analyst Mike Mayo telling me this morning, he's still bullish on the banks in large part because of easing capital requirements. Jumping into the Yahoo Finance platform, I find it interesting, you see the platform right there, that JP Morgan and Goldman Sachs still trade at a discounted forward PE ratio versus the broader market given all these tailwinds. They do still trade at their historically relatively high price-to-book ratio. A lot of wonky stuff there, but all very important for making investment decisions. Uh still with me is Keith Lerner, Ali Canal, and Ines Ferre. Keith, well, uh the good thing about having you here amongst many reasons, you actually work at a bank. So, help us understand what the market might be seeing in some of these big bank stocks. Yeah, well, first of all, I think it's a good sign that you're seeing these big banks, um, break out to new highs. That's not something you typically see right before a recession. And I think what you're seeing is one, you're seeing a steeper yield curve, that's a positive. I I think, you know, the M&A and IPO market was pretty much shut down in the first half. That's starting to pick up. That should accelerate in the second half as well. Eventually, we do think that the the Fed likely cuts rates in the back half as well. And then the big part as you already mentioned is the deregulation part as well. So, it is mixed somewhat with some within the sector, but um especially with more volatility as well that you've seen, it is certainly good for some of the the larger uh financials. And again, a good sign technically that they're that they're leading the uh broker dealer index just broke out. Now, how should investors, Keith, let me just stay on you for a second. How how should investors value these these stocks? You heard me right there talk about the P ratios, it's trading at a discount relative to the broader market, price to book still relatively high. I was looking at a good note from RWB this morning noting that JP Morgan is trading at record high valuations. Should investors just ignore that and ride this momentum because we are going to get easier regulations? Well, I wouldn't ignore them and those high valuations may suggest the upside will be may be somewhat constrained over time, but I also think you have to remember coming out of the the financial crisis, you know, the capital ratios are a lot um higher, the financial system's a lot stronger as well. So, I think a lot of these financial companies are in a better position. So it, you know, depending depending how far you're looking back, it makes sense that they're trading somewhat more at a premium valuation, and there's also the overall market's trading at more of a premium valuation. So it makes sense that um that you'll see some follow through, and you're actually seeing those higher quality names that investors have more confidence with um, you know, have that premium, which to me makes some sense. Uh Ines, uh you know, Keith mentioned a good point on on volatility in the markets. I just, I'm thinking through what we've seen in the oil markets, I'm seeing what's happening in the crypto markets and and you would have to think, you know, on those second quarter earnings calls with the big banks, they're going to really hype up how that volatility is shaping their bottom lines and how it could continue to shape the bottom lines in the back half of this year. Yeah, no doubt, but um as you know, as Keith was alluding to, I mean this is very, this is very good for the banking sector in general. Um the fact that there we are seeing now, we've seen peak regulation when it comes to banks. So these stress tests are expected to come in uh very in in putting banks in a very favorable light. Um I was struck by the fact that expenses, regulation related costs, from one of the analyst notes this morning, are estimated at 20% of the total bank expenses. So this is going to free up a ton of capital. But as you mentioned, yes we've seen volatility in different areas. One thing I will mention about crypto, it is going to change the way uh financial services are um are done in many aspects. Um just one note on the stable coin which I know that you know that I've been covering quite a bit. Stable coins is going to be very, very significant uh when it comes to uh these stable coin issuers are big buyers of short-term treasuries. This is going to be huge. This gives incentives for the government to uh work alongside stable coin issuers. So this is going to sort of revolutionize the financial sector. And you could type in Ines Ferre into the top of Yahoo Finance in that search bar, read all her work uh because it's really good stuff on all things crypto. Ali, uh you're in the zone today. Last 30 seconds, do you have a big call on the banks? Why not just throw caution to the wind, right? Yeah, I you talked about that note that you flagged, Brian, from Barrett and they did wave caution on some of those mega cap names. JP Morgan, they downgraded to underperform, Bank of America to neutral. Not because they are bad banks, they have fortress balance sheets there, but because they're just too expensive, as we've been discussing with these valuation concerns. JPM in particular trading at record valuations here with limited upside according to these strategists. And they argue that regional banks may be the better play here. Now, regional banks, they've just been so beaten down here, but the risk reward scenario just looks a bit more attractive on that front. So maybe we could see this big rebound here in regional banks, but I do agree with Keith that those high quality names, probably within this market that's very prone to headlines and volatility, you want to be focused there.
Yahoo
26-06-2025
- Business
- Yahoo
Wells Fargo Maintains a Buy Rating on Bank of America (BAC), Keeps the PT Unchanged
Bank of America Corporation (NYSE:BAC) is one of the . On June 11, Wells Fargo analyst Mike Mayo maintained a Buy rating on the stocks with a price target of $56. The analyst highlighted loan growth and improved net interest income as key drivers of enhanced profitability. Mike believes that despite the sluggish investment banking sector, Bank of America Corporation (NYSE:BAC)'s decade-long investments are expected to pay off thereby reinforcing its strategic positioning and growth potential. A professional banker providing consultation to a customer in the security of his office. Analyst Mike Mayo also noted that the bank has consistently grown its deposits driven by investments in bank renovations and market expansion. Bank of America Corporation (NYSE:BAC) reported its Q1 2025 results on April 15. It grew its revenue of $27.4 billion by 6% year-over-year, with net income growing 11% to reach $7.4 billion. As the analyst highlighted, the deposits for the quarter grew to approximately $2 trillion reflecting a 2% year-over-year increase. Lastly, Mike highlights the bank's valuation as it is trading at the lower end of its historic forward P/E ratio. While we acknowledge the potential of BAC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
