In msg IFSB on 3/21 I mentioned management. Founder Bill Fitzgerald died on Monday. The company suddenly is very much in play. He had an interest in keeping company independent - it employs several members of his family and gave him a great lectern for participation in DC matters. Now it's up for grabs.
Bill Fitzgerald will be missed by all in DC, regardless of race!
The two banks (Southtrust & BBT) are about the same size and profit. Who would be the leader????? Which would be best, headquarters in Birmingham or Winston Salem??????? Both are good and not that much overlap in NC & SC.
This is not your typical banking company. Perhaps a deal would make sense if BBK sold of the credit card business. The book value and PE just do not make sense for a bank like BBK, but it might make sense for First Union (their presence sucks in GA).
You heard it here first. Look for a marriage between Southtrust and BBK this year.
I suggest you do much more research on SNV. Has a PE
of 40, look at why? See where they rank among their
peers in ROE and ROA. Look at recent accolades for CEO
and Company, review management philosophy, a lot like
BB&T. They own banks in Georgia, Alabama, Florida and
South Carolina. Would be a good fit for BB&T. SNV owns
80.7% of the second largest credit card processor in
U.S., Total System Services (TSS), look at their performance,
sales and earnings growth.
the analysts/brokers in yahoo research don't seem to be overly smitten with it. Is it depressed at the moment? Do you know why it so poorly rated?
0 - strong buy
0 - moderate buy
6 - hold
2 - moderate sell
0 - strong sell