External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Equity Bottom-Up

<ul><li>High potential for additional recoveries with longer liquidation period</li><li>Solvent receivership of Signature Bank offers compelling investment opportunity</li><li>Potential for substantial upside for common equity, preferred equity, and unsecured bonds</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

High potential for additional recoveries with longer liquidation periodSolvent receivership of Signature Bank offers compelling investment opportunityPotential for substantial upside for common equity, preferred equity, and unsecured bondsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Signature Bank (SBNY) - Sunday, Mar 10, 2024

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>S&amp;P DJI Global Indices on Friday announced the changes to the S&amp;P500, S&amp;P Midcap 400, and S&amp;P 600 to be implement at the close on 17 December. </li>
<li>There were no surprises and the whole exercise is one of rearranging the deckchairs. Stocks move up an index, or down an index, but nothing moves out of the three.</li>
<li>The proprietary S&amp;P data suggests little opportunity, but empirical data suggests otherwise, and as in most cases, the interesting trades are the smaller ones.</li>
</ul>


S&amp;P DJI Global Indices on Friday announced the changes to the S&amp;P500, S&amp;P Midcap 400, and S&amp;P 600 to be implement at the close on 17 December. 
There were no surprises and the whole exercise is one of rearranging the deckchairs. Stocks move up an index, or down an index, but nothing moves out of the three.
The proprietary S&amp;P data suggests little opportunity, but empirical data suggests otherwise, and as in most cases, the interesting trades are the smaller ones.


S&P500 Rebalance for December 2021 - Rearranging the Deckchairs

Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

Global Multi-Asset Investment Strategist

Build Well-Diversified Multi-Asset Portfolios

True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

Cross Asset Strategy

<ul>
<li>China is injecting liquidity into the markets, but ironically, with investors sick and tired of negative returns, much of this liquidity is finding its way everywhere except China.</li>
<li>The downturn in commercial real estate is becoming a global phenomenon. A growing number of companies is grappling with bad real estate loans, leading to a sharp increase in provisions.</li>
<li>The most recent Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) reveals yet another trend that the recession is already behind us.</li>
</ul>


China is injecting liquidity into the markets, but ironically, with investors sick and tired of negative returns, much of this liquidity is finding its way everywhere except China.
The downturn in commercial real estate is becoming a global phenomenon. A growing number of companies is grappling with bad real estate loans, leading to a sharp increase in provisions.
The most recent Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) reveals yet another trend that the recession is already behind us.


The Weekly Market Monitor – How China Is Pushing Stocks Higher Except at Home

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

<ul>
<li>Quarterly figures are poor, with net interest income growth negative, again</li>
<li>Fees appear to be topping out, with operating costs at very high levels</li>
<li>7 August letter from Senator Warren: congressional scrutiny on SVB</li>
</ul>


Quarterly figures are poor, with net interest income growth negative, again
Fees appear to be topping out, with operating costs at very high levels
7 August letter from Senator Warren: congressional scrutiny on SVB


GS - 2 Quarters Of Falling Net Int Inc, Fees Topping Out, Very High Costs, Credit Metrics Worsening

Product Marketing Manager, Criat

Raghav Chandra Mathur

Product Marketing Manager

Next-Generation Credit Analytics Provider

Criat

Criat specializes in new-generation data-driven credit analytics. Leveraging our industry-leading DeepCredit analytical technologies, we produce daily-updated forward-looking credit assessment and valuation to help financial institutions stay ahead of risks. Coupled with use-case-driven applications, we extract insights, answer questions and enable smarter credit decisions.

Thematic (Sector/Industry)

<ul><li>The US banking sector has encountered a multitude of challenges and transformations in recent months, triggered by the collapse of several regional banks and the Federal Reserve's implementation of interest rate hikes.</li><li>In March, Silvergate Capital, Silicon Valley Bank, and Signature Bank of New York faced financial dis- tress, followed by First Republic Bank on May 1st.</li><li>Silvergate and Signature grappled with their ties to a volatile cryptocurrency market that experienced significant fluctuations.</li></ul>

The US banking sector has encountered a multitude of challenges and transformations in recent months, triggered by the collapse of several regional banks and the Federal Reserve's implementation of interest rate hikes.In March, Silvergate Capital, Silicon Valley Bank, and Signature Bank of New York faced financial dis- tress, followed by First Republic Bank on May 1st.Silvergate and Signature grappled with their ties to a volatile cryptocurrency market that experienced significant fluctuations.

Regulatory Overhaul on US Banking Sector Brings New Challenges

United States

Penns Woods Bancorp, Inc. is a bank holding company of Jersey Shore State Bank. The Company provides a variety of commercial and consumer banking services to individual, business, public, and institutional customers.  Penns Woods operates a network of offices in north central Pennsylvania.

First Guaranty Bancshares, Inc. is a full-service bank.  The bank accepts deposits, makes loans and provides other services for the public.

Investar Holding Corporation is a bank holding company owning or controlling one or more banks. The Company, through subsidiaries, provides commercial banking products. Invest Holding offers its services to individuals and small to medium sized businesses located in Louisiana.

C&F Financial Corporation, through its wholly-owned subsidiary Citizens and Farmers Bank, offers general banking services to individuals, professionals, and small businesses. The Banks originate and sell residential mortgages, and also offer trust, brokerage, and title insurance services. C&F operates in the area between Williamsburg and Richmond, Virginia.

The Community Financial Corporation serves as the holding company of Community Bank of Tri-County.  The Bank conducts full service commercial banking operations throughout the southern Maryland area.  The primary financial services provided include mortgage loans on residential, construction and commercial real estate and various types of consumer lending.

Meridian Bank of Malvern, Pennsylvania operates as a bank. The Bank offers deposit accounts, credit products, real estate financing, residential mortgages, investment and wealth management, and electronic payments processing services. Meridian Bank serves customers in the State of Pennsylvania.

Ames National Corporation is a multi-bank holding corporation.  The Banks offer commercial banking, personal banking, agricultural lending and deposit account services along with trust services and Internet banking services.  Ames affiliates have locations throughout the state of Iowa.

National Bankshares, Inc. is a holding company for the National Bank of Blacksburg.  The Bank attracts deposits from the general public and use these funds to originate commercial, real estate, and consumer loans.  National Bankshares operates in Montgomery, Giles, Carroll,Tazewell, and Grayson counties in Virginia, and Mercer county West Virginia.

Bankwell Financial Group Inc. operates a regional bank in Connecticut. The Bank provides banking and other financial services to private individuals and local businesses. Bankwell Financial also offers credits and loans, as well as electronic banking and online banking services.

Provident Bancorp, Inc. of Maryland provides banking services. The Company offers commercial and small business lending, working capital loans, export credit insurance loans, term financing, and depository services. Provident Bancorp operates in the United States.

PT Bank QNB Indonesia Tbk operates a commercial bank. The Company acquires deposits from the general public and uses those funds to originate a variety of loans.

PT Bank Bumi Arta Tbk provides commercial banking services.

Dhanlaxmi Bank Ltd. accepts deposits and offers commercial banking services. The bank offers personal loans; loans collateralized against future rent income, gold and bonds; home appliance financing loans; agricultural assistance loans; import - export assistance loans; and industrial and trade advance loans.

PT Bank Panin Syariah tbk. provides Islamic banking services. The Bank offers conventional banking services such as savings account, credit cards, financing, and investment services as well as full Islamic banking services in compliance with Shariah law. Bank Panin Syariah serves businesses and personal clients throughout Indonesia.

Public Financial Holdings Ltd, through its subsidiaries, operates in the deposit taking, personal and commercial lending, credit card, mortgage financing, stockbroking, and property investment businesses.  The Company also provides financing to purchasers of taxis and public light buses, leases taxis, and trades taxi cabs and taxi licenses.

PT Bank MNC Internasional TBK, also known as MNC Bank, provides an integrated banking products and services to both corporate and consumer markets. The Bank focuses on consumer and retail banking, including credit card, remittance, cash management, payrolls and many others. MNC Bank is supported by branch & cash offices, payment points & automated teller machines (ATMs) throughout Indonesia.

Bank Of Taipei was founded in 2007. The Company's line of business includes the operation of commercial banks.

The Kita-Nippon Bank, Ltd. is a regional bank based in Tohoku area.  The Bank provides banking services such as deposits, loans, and foreign exchange transactions.  The Kita-Nippon Bank also provides financial services such as leasing, credit cards, and letter of credit, and develops computer software.

PT Bank Capital Indonesia Tbk provides commercial banking services.

The Shimizu Bank, Ltd. is a regional bank based in Shizuoka Prefecture. The Bank provides banking services such as deposits, loans, foreign exchange transactions, and securities investments. The Shimizu Bank provides financial services such as leasing, letter of credit, credit cards, and factoring services, develops computer software.

Signature Bank is a full service commercial bank that serves privately owned business clients and their owners and senior managers. The Bank offers business and personal banking products and services as well as investment, brokerage, asset management and insurance products through its subsidiary, Signature Securities Group Corp.

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Signature Bank (SBNY US)

Signature Bank (SBNY) - Sunday, Mar 10, 2024

High potential for additional recoveries with longer liquidation period. Solvent receivership of Signature Bank offers compelling investment...

Value Investors Club

S&P500 Rebalance for December 2021 - Rearranging the Deckchairs

The S&P announced its changes to the S&P500, S&P Midcap 400, and S&P Small 600 Indices. All names moving in and out of these indices are coming...

Travis Lundy

The Weekly Market Monitor – How China Is Pushing Stocks Higher Except at Home

Is this the start of another Chinese liquidity boom? Meanwhile, commercial real estate loan provisions are spreading across the globe, which is why...

Jeroen Blokland

GS - 2 Quarters Of Falling Net Int Inc, Fees Topping Out, Very High Costs, Credit Metrics Worsening

We now see GS struggling further with recent results but also see average growth rate of net interest income at large US banks decelerating sharply...

Daniel Tabbush

Regulatory Overhaul on US Banking Sector Brings New Challenges

The US banking sector has encountered a multitude of challenges and transformations in recent months, triggered by the collapse of several...

Criat

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