Word: bove
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...much more sound and secure financial system, Obama has yet to publicize these developments, to his own detriment. Just a year ago, there were talks of a potential second Great Depression, but the aggressive actions taken by the Fed and Treasury Secretary Timothy Geithner have led financial analyst Richard Bove to conclude that “U.S. banks now have more capital as a percentage of assets than in any year since 1935.” Nevertheless, the perception remains that Washington is making all the wrong moves; critics on the left suspect an incestuous relationship between Wall Street...
...really come out strong," says analyst Richard Bove, who covers banks at Rochdale Securities. I was not a fan at first, but I have become...
...Moynihan seems to have a deep understanding of the numbers that are key to each one of his bank's divisions," says analyst Bove. "He is really extraordinarily impressive...
...Veteran analyst Richard Bove of Rochdale Securities, who had been recommending Citi's shares since the summer, downgraded the stock on news that it was going to repay TARP from a "buy" to a "sell" rating. "What does it do for the company? Management can increase [executive] salaries," says Bove, referring to the fact that Citi will now be free of the government's compensation rules. "What else? Nothing...
...raising all the capital to pay back TARP won't improve Citi's balance sheet either. In fact, it will do the opposite. Bove estimates that TARP repayment will lower the company's Tier 1 capital ratio to just over 11%, from a recent 12.8%. What's more, with the elimination of the government guarantee of Citi's riskiest assets, which could expose the bank to as much as $250 billion in additional losses, the bank's Tier 1 ratio will sink further, to 10%, according to Hensler. (See 10 big recession surprises...