trending Market Intelligence /marketintelligence/en/news-insights/trending/RqSL0SwowV9jFYjnxVwqBQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Piper Jaffray initiates coverage of 2 Hawaiian banks

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Piper Jaffray initiates coverage of 2 Hawaiian banks


Piper Jaffray analyst Brett Rabatin initiated coverage ofHonolulu-based Bank of HawaiiCorp. at "neutral" with a $70 target price.

His 2016, 2017 and 2018 EPS estimates are $4.01, $4.11 and $4.50,respectively.

Rabatin thinks the shares are a solid investment with lesspotential credit risk than its mainland peers. In addition, he thinks that thecompany will be able to generate some operating leverage in 2017, as a resultof its efforts to increase revenue growth. He highlighted that companymanagement is aiming for longer-term efficiency by improving its back-officeoperations and its digital capabilities to retail and small-business customers,along with fine-tuning its delivery channels.

He expects the management initiatives to drive strongerrevenue growth, which will cause low-single-digit expense growth in at least2017.

In addition, he noted that the share price reflects thequality of the franchise, and he believes that "catalysts for EPS upsidesurprises are somewhat limited."

Rabatin initiated Honolulu-based at"neutral" with a price target of $25.

His 2016, 2017 and 2018 EPS estimates are $1.46, $1.57 and$1.59, respectively.

The analyst expects the company to modestly improve itsearnings through 2018. Rabatin thinks that the shares are a good investment butthinks that the share price reflects the near-term prospects, including eitherfaster growth or more profitable companies trading at similar valuations,within the industry.

Rabatin thinks that if the company manages to improve itsrevenue, while maintaining its expense base over the next two years, it mightbe able to modestly improve its earnings despite the low interest rateenvironment.

In addition, based on low level of risk in its current loanportfolio and high loan-loss reserves, the analyst thinks that the company isin a better position in the case of a recession or if higher net charge-offshit the industry.


Keefe Bruyette & Woods Inc. analyst Collyn Gilbertupgraded Brookline BancorpInc. to "outperform" from "market perform" butmaintained her target price of $13. Her 2016 and 2017EPS estimates are 73 cents and 78 cents, respectively.

The analyst believes that Brookline is a favorableinvestment in light of current challenges tied to interest rates, earningspressures and commercial real estate concentration concerns. In addition,Gilbert noted that the company has a fairly well-diversified balance sheet andis less dependent on real estate-related assets compared to its peers. Thecompany also has an "upward earnings bias" in a challenging operatingenvironment. Furthermore, the analyst thinks that the company's management isproactive when it comes to the timely management of or exit from certainbusiness lines.

Wells Fargo Securities analyst Matthew Burnell upgradedComerica Inc. to"market perform" from "underperform" and estimated thecompany's 12-month price target within the range of $39 to $41, up from $38 to$40.

However, he lowered his 2016 EPS estimate to $2.40 from$2.45, and reduced his 2017 EPS estimates to $3.15 from $3.25.

The analyst noted that the company's stock price declined12.1% over the last month, while the S&P 500 fell 0.7%. The shares arecurrently trading at the midpoint of the analyst's valuation range of $39 to$41. So, he upgraded the stock as the company plans to announce its detailedprofit improvement plan in mid-July. In addition, Burnell thinks thatstabilizing oil prices and lower rates are more adequately reflected in thecompany valuation.

"While it seems premature to declare an 'all-clear' onenergy-related credit exposures, we think improved energy price levels and amore open capital markets environment offer CMA's borrowers' a bit moreflexibility than we'd previously anticipated," he added.


Burnell of Wells Fargo Securities downgraded to "marketperform" from "outperform," and estimated the company's 12-monthprice target within the range of $45 to $47, down from $50 to $52.

He maintained his 2016 and 2017 EPS estimates at $4.50 and$5.25, respectively.

The analyst downgraded the company in light of elevatedrisks of a post-Brexit global growth slowdown. He noted that the companyderives 40% of its revenue from international markets.

Citi's buyback and dividend plans during the 2016Comprehensive Capital Adequacy and Review process exceeded the analyst's andStreet estimates. However, Burnell noted that although the improved planshelped the company shares outperform its peers, Citi was not able to maintainthe momentum.

Furthermore, the analyst highlighted that, after Citiacquired the Costcoportfolio from American ExpressCo. in June, Costco co-brand credit card holders have beendissatisfied with the company's roll out of its new "Anywhere" card,according to recent media reports. "The new portfolio isn't expected tobecome profitable for the first year under Citi, and the roll-out issuesappears to be a short-lived matter so this is unlikely to be a materialearnings challenge. Still, such a roll out could reduce future sellers' desireto partner with Citi for fear of harming the customer/merchantrelationship," he added.