Topic: Commentators — Barrons
Mar. 13 2018, 12:35 PM ET
- by VF member banker2001 (41 )
bank takeovers --
Mar 2, 2018 @ 08:09 AM 6,152
The Little Black Book of Billionaire Secrets
Why These 17 Stocks Have Takeover Appeal
Opinions expressed by Forbes Contributors are their own.
MoneyShow , Contributor
Continued from page 1
Doug Hughes, Bank Newsletter
TCF Financial, Fulton Financial FULT -0.13% and Univest Corporation of Pennsylvania are three stocks that we own as takeout plays. We also see takeover potential in Oppenheimer Holdings, which is the largest holding in our portfolio.
TCF Financial just raised their cash dividend 100%. Wow, they are for sale I think. Now raising rates helps them a lot, insiders own a bunch and no bad loans. A deal could happen at $26 a share and nice yield while we wait, also very safe.
Fulton Financial has a great franchise and hot markets, like Maryland and Pennsylvania. Also, for this one, itís a great regional powerhouse that could be taken for at least $24 a share any day.
Their locations and deposit franchise are sure to get a lot of interest this year. Where many banks need growth markets, they have them. Also, we get a nice yield while waiting for them to get taken over.
Univest has a strong market share in affluent markets of Pennsylvania. It has very low bad loans, a great franchise and they just raised a bunch of money in a secondary last year, so a deal is a few years out on this one, but it has a hot market area and strong earnings growth next year. Overall, it is a very safe bank.
Oppenheimer Holdings is a smaller investment bank with great insider ownership. Earnings are growing at a 100%-plus clip