In the episode, Anton Schutz, senior portfolio manager at Mendon Capital, offers his outlook for bank stocks and bank M&A activity in 2020. The longtime bank investor said banks enjoyed a relief rally late in 2019 after being "oversold, underowned and hated" and the prospect of further increases in long-term rates and improvements in efficiencies will drive the group in 2020. Schutz also believes there is investor support for bank M&A, at least in the case of smartly-priced transactions. He said smaller acquirers remain in the catbird seat because they can evaluate a larger pool of potential sellers and have the optionality of selling to another institution.
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Talking Bank Stocks, Playing The M&A Trade With Longtime Investor
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