Financial Services: Despite Recession Fears, We Find Value in Banks
The sector overall is slightly undervalued.
Michael Wong
Michael Wong, CFA, CPA, is director of equity research, financial services, North America, for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc.
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We Like Goldman's Transformation
We think it should be positive for those with a long-term investment horizon.
Financial Services: Interest-Rate Expectations Have Pressured Performance
About half of our banking coverage is trading at 4 or 5 stars.
Schwab: Is a Dividend Boost in the Cards?
The large increase in fourth-quarter net income was due to tax reform, but the strong revenue and operating income growth were due to positive trends in the company's business model and expense discipline.
Financial Services: Value in Banking and Asset Management Firms
Moderating expectations for interest rate hikes and lower asset prices have created some buying opportunities in some financial firms.
Financial Services: Investment Services Competition Is Heating Up
The economy remains relatively strong, but we’re seeing pressure in funding costs, net interest margin growth, and credit costs.
Significant Fair Value Hike for Greenhill
We've boosted our fair value estimate of the narrow-moat investment bank by nearly 20%.