|
|
|
|
|
|
StockCentral :: Community
|
|
Join in on the discussion with other like-minded investors in our community forums. Learn about the fundamental investing methodology and participate in educational workshops in the Investing forums, stay up-to-date on StockCentral news and make suggestions to the StockCentral team in Central Square, and discuss your favorite stock or recent market news in our A-Z ticker-based forums.
|
| Note: You must be a StockCentral subscriber and logged in to post messages. |
|
|
| Author |
Messages |
|
Joe Craig
Ellicott City, MD
StockCentral Administrator
 |
| 01/23/2007 10:26 AM |
|
Danny Matthews third pick in the "25 Stocks to Own" competition is Bank of America Corporation. Danny says:
"Bank
of America Corporation, a holding company, provides banking and nonbanking
financial services and products in the United States and internationally. It
primarily operates in three segments: Global Consumer and Small Business
Banking (GCSBB), Global Corporate and Investment Banking (GCIB), and Global
Wealth and Investment Management (GWIM). The GCSBB segment offers credit cards,
and co-branded and affinity card products; processing services for merchant
card receipts; mortgage products and services; and consumer deposit and debit
products, including savings accounts, certificates of deposits, individual
retirement accounts, checking accounts, debit cards, and business checking
options. The GCIB segment provides working capital management, commercial
lending, investment banking, capital markets, and insurance services, advisory
services, card products, payroll, and employee benefits; project financing and
treasury management
This, for me, was a tossup between BAC and
C. Citigroup has a large presence but has had managerial problems in the past
and continuing to a lesser degree today. BAC may be addressing the
international scope of business soon as they have shown an interest in Barclays
Bank of England. Also just purchased the US
Trust from Schwab for $3B and change. I
am showing estimates of 8% going forward which is also at the top of a mature
large cap company’s preferred range. PEG of 1.41 is below my cutoff of 1.5 or
150% of growth."
|
 Attachment: BAC.SSG
|
Joe |
|
|
Danny Matthews
|
| 01/23/2007 7:59 PM |
|
Based on the story below I have left my projections for the next Q at 8%. At the current price of $53.30 it comes in at the desired range with a 3.3/1 UD ratio. I am hoping they will share some of the wealth with a dividend increase and use some of the proceeds from the sale of the Asia banking unit to the tune of $165M. I used the latest projected EPS in the suggested low price box which is now 4.74 vs TTM of 4.39, which shows a correct up trend. I used the projected EPS as I already own this and am very confident that they can meet 8% growth, taking into consideration the current interest rate enviroment.
The second-largest bank in South Florida has reported fourth quarter earnings up 47 percent. The company also said it has dropped a national lobbying effort that could have helped it grow. Bank of America Corp. put its profit at $5.26 billion, or $1.16 per diluted share, up from $3.57 billion, or 88 cents per share, in the same period a year earlier. Helping BofA's (NYSE: BAC - News) results were its $35 billion acquisition of credit-card giant MBNA Corp. The year-earlier numbers did not include MBNA. Revenue during the latest quarter climbed 34 percent to $18.82 billion from slightly more than $14 billion a year earlier. Net interest income increased to $8.96 billion from $8.10 billion as BofA's net interest yield tightened 7 basis points to 2.75 percent.
Non-interest income rose 66 percent to $9.87 billion from $5.95 billion. The addition of MBNA boosted card income, and the sale of BofA's commercial banking unit in Asia resulted in a $165 million gain.
For the full year, net income increased 28 percent to $21.13 billion, or $4.59 per share, from $16.47 billion, or $4.04 per share, a year earlier. |
Attachment: BAC.SSG
|
Danny Matthews
Tuscola IL |
|
|
Danny Matthews
|
| 01/25/2007 11:27 PM |
|
This is news from Jan 25th, 2007
Charles Schwab Corp. said Monday that it will sell its wealth-management subsidiary U.S. Trust to Bank of America Corp. for $3.3 billion in cash, sharpening the discount brokerage's focus on do-it-yourself investors.
Bank of America also is picking up about 13,600 customers, 33 offices and $94 billion in assets from U.S. Trust. The bank says its wealth-management arm, with $167 billion in assets, currently serves about 114,000 customers in 150 offices.
To read the full story click here http://biz.yahoo.com/ap/070125/bank_of_america_us_trust.html?.v=1 |
|
Danny Matthews
Tuscola IL |
|
|
Rajiv Roy
|
|
B Jill Hill
|
| 01/28/2007 7:22 PM |
|
Your SSG attachment does not appear when clicked on. Just a bunch of numbers down the side of the paper |
|
|
|
|
Danny Matthews
|
| 01/28/2007 7:48 PM |
|
B JillHill
I clicked on the bac ssg link and it opened in my Toolkit 5. What version are you using? |
|
Danny Matthews
Tuscola IL |
|
|
|
| Note: You must be a StockCentral subscriber and logged in to post messages. |
|
|
|
ActiveForums 3.7
|
|