apparently the NY boys & gals have given up on CFR doing anything major. THem Wll Streeters play ball with you if you play ball with them and cfr is having none of it. what do I mean "play ball"? You know the usual M&A stuff or loading up with debt so Wll Street can sell their bonds all that financial leveraging that got them (Wall Street types) in trouble. Just sit here and collect the divd and wait for mgmnt to buy or do something when the time is right. Really curious though if CFR will ever have a bank outside Texas. just sitting here on a Saturday drinking SBUX and wondering on paper you might say.... btw cash per share is $73 per Yahhhh Who!
Figure I read was $48 cash/ share, which is still stunning. I have to admit I came to this bank through Cramer, and although I generally tune out his noise, something caused me to investigate this stock more. Really does seem a hidden gem. I am working in Texas at present, and there is no doubt this state is doing well, especially Austin and all the oil communities.
I find your take on the brokerages ignoring CFR for not giving them more business prescient: They tout all sorts of troubled and lesser companies instead so they can handle their bond sales. The balance sheet here looks outstanding.
last paragraph is exactly what I believe! If you dont use Wall Street money/advice/or M&A then they do not promote your corporation. THink about this: if you use those Wall Street boyz & galz they then have something to sell the retail client..ie a story to tell and sell as we used to say. Look at the splendid favors GS has done for their clients. In Texas from where may I ask?
Based on your PPS estimate, does management have an obligation to maximize SHAREHOLDER value? The bank has made it pretty clear it will not allow itself to be acquired, so this leaves acquisition and new depositors as the two areas for growth. Depositors doesn't get anyone to the red zone, so hopefully these guys will loosen the purse strings and purchase another bank.
I think their last purchase was Summit Bank in FtW. there are plenty of areas in Texas they can expand...east Texas for one obvious choice. And it looks as if with their last 2 puchases they are moving a bit away from strictly banking.