Top 10 Bank Stocks For 2019

Hurricane Maria has devastated Puerto Rico and upended the lives of millions of Americans. It’s also left billions of dollars in damage that will wreak havoc on the island’s economy, according to initial estimates.

AIR Worldwide, which calculates the financial toll of natural disasters, predicts that losses in the Caribbean covered by insurance will be between $40 billion and $85 billion. More than 85% of those losses are in Puerto Rico, the firm said.

That number doesn’t include damage to property that isn’t insured, and excludes flood damage covered by the National Flood Insurance Program.

Puerto Rico was in an economic crisis before it was slammed by Maria as a Category 4 storm. The island, which remains almost entirely without electricity, is already in the midst of an 11-year recession. It filed for the largest municipal bankruptcy in U.S. history back in May.

Estimates from Chuck Watson, an analyst with the disaster research group Enki Research, were slightly more conservative.

Top 10 Bank Stocks For 2019: Canadian Imperial Bank of Commerce(CM)

Advisors’ Opinion:

  • [By Garrett Baldwin]

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    The Top Stock Market Stories for Tuesday
    The Euro has plunged to its lowest point against the U.S. dollar in 2018 thanks to political problems in Europe. The breakdown of power in Italy has raised new concerns about the nations ability to repay its debts, as the spread between German and Italian bonds has widened. Market instability has also spread to Spain where the nations parliament is preparing to vote on whether to oust Prime Minister Mariano Rajoy and his party. Oil prices slid one news that OPEC and Russia will consider hikes in production during a meeting in Vienna, Austria on June 22nd. The news accompanied reports that U.S. production is expected to rise throughout the summer. The price of WTI oil sat at $67.20 per barrel. The Brent crude oil price recovered this morning, adding 1% to hit $76.12. Canadian banks are under pressure this morning over a major breach by cyber criminals. The Bank of Montreal (NYSE: BMO) and the Canadian Imperial Bank of Commerce (NYSE: CM) the two largest banking institutions in the country announced that roughly 90,000 customers data may have been stolen. This would be the first major cybersecurity event to happen in Canada involving financial firms.
    Three Stocks to Watch Today: CRM, SBUX, MOMO
    com (NYSE: CRM) will lead a busy day of earnings reports on Wall Street. The cloud computing giant is set to report fiscal first quarter 2019 numbers after the bell on Tuesday. The average analyst projection calls for a 46% jump in EPS of $0.46 on top of a 23% gain in revenue to $2.94 billion. Starbucks Corporation (Nasdaq: SBUX) will temporarily close about 8,000 locations on Tuesday to train roughly 175,000 employees on racial bias. The training sessions were

  • [By Logan Wallace]

    A number of firms have modified their ratings and price targets on shares of Canadian Imperial Bank of Commerce (TSE: CM) recently:

    6/6/2018 – Canadian Imperial Bank of Commerce was upgraded by analysts at Citigroup Inc from a “neutral” rating to a “buy” rating. They now have a C$130.00 price target on the stock, up previously from C$125.00. 5/24/2018 – Canadian Imperial Bank of Commerce was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating. They now have a C$124.00 price target on the stock, down previously from C$136.00. 5/24/2018 – Canadian Imperial Bank of Commerce had its price target lowered by analysts at Scotiabank from C$131.00 to C$127.00. They now have a “sector perform” rating on the stock. 5/24/2018 – Canadian Imperial Bank of Commerce had its price target lowered by analysts at Royal Bank of Canada from C$141.00 to C$135.00. They now have a “sector perform” rating on the stock. 5/24/2018 – Canadian Imperial Bank of Commerce was given a new C$140.00 price target on by analysts at Eight Capital. 5/24/2018 – Canadian Imperial Bank of Commerce had its price target raised by analysts at Barclays PLC from C$133.00 to C$138.00.

    CM traded up C$0.59 on Wednesday, reaching C$115.86. 987,570 shares of the stock were exchanged, compared to its average volume of 1,290,708. Canadian Imperial Bank of Commerce has a fifty-two week low of C$103.84 and a fifty-two week high of C$124.37.

  • [By Lisa Levin] Companies Reporting Before The Bell
    Target Corporation (NYSE: TGT) is estimated to report quarterly earnings at $1.38 per share on revenue of $16.50 billion.
    Ralph Lauren Corporation (NYSE: RL) is expected to report quarterly earnings at $0.83 per share on revenue of $1.48 billion.
    Lowe's Companies, Inc. (NYSE: LOW) is projected to report quarterly earnings at $1.25 per share on revenue of $17.63 billion.
    Tiffany & Co. (NYSE: TIF) is estimated to report quarterly earnings at $0.83 per share on revenue of $957.49 million.
    Canadian Imperial Bank of Commerce (NYSE: CM) is expected to report quarterly earnings at $2.23 per share on revenue of $3.40 billion.
    Citi Trends, Inc. (NASDAQ: CTRN) is projected to report quarterly earnings at $0.9 per share on revenue of $210.70 million.
    Qiwi plc (NASDAQ: QIWI) is expected to report quarterly earnings at $0.25 per share on revenue of $60.19 million.
    iClick Interactive Asia Group Limited (NASDAQ: ICLK) is projected to report quarterly loss at $0.06 per share on revenue of $34.87 million.

     

Top 10 Bank Stocks For 2019: Wells Fargo & Company(WFC)

Advisors’ Opinion:

  • [By Joseph Griffin]

    Summit Trail Advisors LLC grew its position in shares of Wells Fargo & Co (NYSE:WFC) by 5,130.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,066,926 shares of the financial services provider’s stock after acquiring an additional 1,046,528 shares during the quarter. Summit Trail Advisors LLC’s holdings in Wells Fargo & Co were worth $1,067,000 as of its most recent filing with the SEC.

  • [By Matthew Frankel, Neha Chamaria, and Matthew DiLallo]

    Despite the excellent results, Bank of America still trades at a relatively low valuation of just 1.25 times book value. For comparison, JPMorgan Chase (NYSE: JPM) trades for more than 1.6 times book and even scandal-plagued Wells Fargo (NYSE: WFC)trades for a multiple of more than 1.5. In short, Bank of America has evolved into one of the best-in-breed banks, but still trades like a work in progress.

  • [By Chris Lange]

    And Wells Fargo & Co. (NYSE: WFC) will report its fourth-quarter results before Fridays opening bell too. The consensus estimates are EPS of $1.07 and revenue of $22.3 billion. Shares closed most recently at $62.75, in a 52-week range of $49.27 to $63.05. The consensus price target is $61.74.

  • [By Chris Johnson]

    Between this Friday and next Wednesday, we’ll see a who’s who of big banks step into the earnings confessional, including the likes of JPMorgan Chase & Co. (NYSE: JPM), Wells Fargo & Co. (NYSE: WFC), Citigroup Inc. (NYSE: C), Bank of America Corp. (NYSE: BAC), Goldman Sachs Group Inc. (NYSE: GS), and Morgan Stanley (NYSE: MS).

Top 10 Bank Stocks For 2019: HSBC Holdings PLC (HSBA)

Advisors’ Opinion:

  • [By Ethan Ryder]

    HSBC (LON:HSBA) had its price target dropped by equities research analysts at Citigroup from GBX 810 ($10.78) to GBX 800 ($10.65) in a report released on Tuesday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target points to a potential upside of 9.59% from the stock’s previous close.

  • [By Joseph Griffin]

    HSBC (LON:HSBA) had its target price lowered by equities research analysts at Shore Capital from GBX 721 ($9.60) to GBX 625 ($8.32) in a report issued on Tuesday. The brokerage presently has a “sell” rating on the financial services provider’s stock. Shore Capital’s price objective indicates a potential downside of 14.71% from the company’s previous close.

Top 10 Bank Stocks For 2019: First Commonwealth Financial Corporation(FCF)

Advisors’ Opinion:

  • [By Joseph Griffin]

    Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)

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  • [By Logan Wallace]

    Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)

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  • [By Joseph Griffin]

    Barclays PLC increased its holdings in First Commonwealth Financial (NYSE:FCF) by 24.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,717 shares of the bank’s stock after buying an additional 6,593 shares during the period. Barclays PLC’s holdings in First Commonwealth Financial were worth $476,000 as of its most recent SEC filing.

Top 10 Bank Stocks For 2019: Ampco-Pittsburgh Corporation(AP)

Advisors’ Opinion:

  • [By ]

    Kabul, Afghanistan (AP) — A Taliban assault on the Intercontinental Hotel in Afghanistan's capital killed at least six people, including a foreigner, and pinned security forces down for more than 13 hours before the last attacker was killed on Sunday, with the casualty toll expected to rise.

  • [By ]

    Durango, Colo. (AP) — A growing wildfire burning in southwestern Colorado forced more people from their homes Sunday as crews tried to slow the blaze being fed by continued hot, dry and windy conditions.

  • [By ]

    Vatican City (AP) — Pope Francis has recognized as martyrs 19 people who were slain in Algeria in the 1990s, including a bishop killed by a car bomb and beheaded monks.

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