Top 5 Bank Stocks To Buy Right Now

After five deals in six months, Bank of Nova Scotia is taking a breather.

“We’ve got a lot of work to do in terms of execution and integrations now, so I think we’ll be fairly quiet on the acquisition front from here on in,” Chief Executive Officer Brian Porter told BNN Bloomberg on Friday in a TV interview set to air at 3 p.m. Eastern time.

On Thursday, Scotiabank agreed to buy MD Financial Management from the Canadian Medical Association for C$2.59 billion ($2 billion), the latest in a series of announced acquisitions that include Canadian money manager Jarislowsky Fraser Ltd. and Banco Bilbao Vizcaya Argentaria SA’s 68 percent stake in a Chilean lender.

The purchase of Ottawa-based MD Financial will add a wealth-management business with C$49 billion in assets and 110,000 clients, including affluent doctors, the Toronto-based bank — Canada’s third-largest — said Thursday in a statement. Also on Thursday, Scotiabank sold 19.7 million shares to raise about C$1.5 billion to help pay for the deal, an offering Porter said was “very well received."

Top 5 Bank Stocks To Buy Right Now: Ampco-Pittsburgh Corporation(AP)

Advisors’ Opinion:

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    New York (AP) — First lady Melania Trump's parents have been sworn in as U.S. citizens.

    A lawyer for Viktor and Amalija Knavs says the Slovenian couple took the citizenship oath on Thursday in New York City.

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    Mexico City (AP) — A powerful magnitude-7.2 earthquake shook south and central Mexico Friday, causing people to flee swaying buildings and office towers in the country's capital, where residents were still jittery after a deadly quake five months ago.

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    This undated photo provided by CFRA shows Sam Stovall, chief investment strategist for CFRA. Stovall said that based on the state of the economy and recent history, company profits should keep rising throughout 2018 and 2019 at least. (Photo: AP)

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    St. Louis (AP) — The 100th edition of the PGA Championship began Thursday for the last time in the stifling heat of summer.

    Club pro Michael Block hit the opening tee shot down the middle at Bellerive Country Club. The course is playing long and soft because of rain on Tuesday and temperatures in the 90s that require PGA officials to keep water on the greens.

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    Panama City, Fla. (AP) — A man suspected of trading wild bursts of gunfire with officers during a long standoff in the Florida Panhandle was found dead Tuesday in a gasoline-soaked apartment after an armored vehicle approached, authorities said.

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    In this Aug. 7, 2018, file photo the Samsung Galaxy Note 9 is shown in New York. (Photo: AP)

    Both phones are some of the best Android devices on the market today, with the biggest difference between the two devices coming down to price. Like the iPhone X, the Note 9 is expensive with starting price of $999.99.

Top 5 Bank Stocks To Buy Right Now: First Commonwealth Financial Corporation(FCF)

Advisors’ Opinion:

  • [By Joseph Griffin]

    Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)

    For more information about research offerings from Zacks Investment Research, visit Zacks.com

  • [By Ethan Ryder]

    Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)

    For more information about research offerings from Zacks Investment Research, visit Zacks.com

  • [By Ethan Ryder]

    First Commonwealth Financial (NYSE:FCF) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Monday.

  • [By Joseph Griffin]

    Get a free copy of the Zacks research report on First Commonwealth Financial (FCF)

    For more information about research offerings from Zacks Investment Research, visit Zacks.com

  • [By Joseph Griffin]

    Barclays PLC increased its holdings in First Commonwealth Financial (NYSE:FCF) by 24.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,717 shares of the bank’s stock after buying an additional 6,593 shares during the period. Barclays PLC’s holdings in First Commonwealth Financial were worth $476,000 as of its most recent SEC filing.

Top 5 Bank Stocks To Buy Right Now: Wells Fargo & Company(WFC)

Advisors’ Opinion:

  • [By Joseph Griffin]

    Summit Trail Advisors LLC grew its position in shares of Wells Fargo & Co (NYSE:WFC) by 5,130.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,066,926 shares of the financial services provider’s stock after acquiring an additional 1,046,528 shares during the quarter. Summit Trail Advisors LLC’s holdings in Wells Fargo & Co were worth $1,067,000 as of its most recent filing with the SEC.

  • [By Douglas A. McIntyre]

    U.S. sanctions of Wells Fargo & Co. (NYSE: WFC) may last longer than expected. According to The Wall Street Journal:

    Wells Fargo & Co. will remain constrained by a regulator-imposed limit on growth for longer than expected, its chief executive said Thursday, as the bank continues to address the ramifications of risk-management failures.

  • [By Chris Lange]

    Wells Fargo & Co. (NYSE: WFC) is set to release its third-quarter financial results before the markets open on Friday. The consensus estimates from Thomson Reuters are calling for $1.17 in earnings per share (EPS) and revenue of $21.9 billion. In the same period of last year, the big bank said it had EPS of $0.84 on $21.93 billion in revenue.

Top 5 Bank Stocks To Buy Right Now: HSBC Holdings PLC (HSBA)

Advisors’ Opinion:

  • [By Max Byerly]

    HSBC Holdings plc (LON:HSBA) has received an average recommendation of “Hold” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is GBX 768.33 ($9.80).

  • [By Ethan Ryder]

    HSBC (LON:HSBA) had its price target dropped by equities research analysts at Citigroup from GBX 810 ($10.78) to GBX 800 ($10.65) in a report released on Tuesday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup’s price target points to a potential upside of 9.59% from the stock’s previous close.

  • [By Stephan Byrd]

    Morgan Stanley set a GBX 855 ($10.91) price target on HSBC (LON:HSBA) in a research note issued to investors on Tuesday. The brokerage currently has a buy rating on the financial services provider’s stock.

  • [By Max Byerly]

    HSBC (LON:HSBA) was upgraded by equities research analysts at Credit Suisse Group to a “neutral” rating in a research report issued to clients and investors on Thursday. The firm presently has a GBX 720 ($9.38) target price on the financial services provider’s stock, up from their previous target price of GBX 680 ($8.86). Credit Suisse Group’s price target suggests a potential upside of 5.82% from the company’s previous close.

  • [By Joseph Griffin]

    HSBC (LON:HSBA) had its target price lowered by equities research analysts at Shore Capital from GBX 721 ($9.60) to GBX 625 ($8.32) in a report issued on Tuesday. The brokerage presently has a “sell” rating on the financial services provider’s stock. Shore Capital’s price objective indicates a potential downside of 14.71% from the company’s previous close.

  • [By Max Byerly]

    Credit Suisse Group set a GBX 720 ($9.32) price target on HSBC (LON:HSBA) in a research report sent to investors on Tuesday morning. The firm currently has a neutral rating on the financial services provider’s stock.

Top 5 Bank Stocks To Buy Right Now: Canadian Imperial Bank of Commerce(CM)

Advisors’ Opinion:

  • [By Max Byerly]

    Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 54.3% in the first quarter, HoldingsChannel reports. The firm owned 911,300 shares of the bank’s stock after buying an additional 320,800 shares during the quarter. Canadian Imperial Bank of Commerce comprises approximately 1.0% of Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s investment portfolio, making the stock its 19th largest position. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Canadian Imperial Bank of Commerce were worth $103,633,000 as of its most recent filing with the Securities and Exchange Commission.

  • [By Motley Fool Transcribers]

    Canadian Imperial Bank of Commerce (NYSE:CM)Q3 2018 Earnings Conference CallAug. 23, 2018, 8:00 a.m. ET

    Contents:
    Prepared Remarks Questions and Answers Call Participants
    Prepared Remarks:

    Operator

  • [By Joseph Griffin]

    Canadian Imperial Bank of Commerce (NYSE: CM) and Foreign Trade Bank of Latin America (NYSE:BLX) are both finance companies, but which is the superior business? We will contrast the two companies based on the strength of their dividends, profitability, earnings, analyst recommendations, institutional ownership, risk and valuation.

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