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BB&T Corporation Message Board

xiaolei79 70 posts  |  Last Activity: Aug 17, 2011 2:32 PM Member since: May 13, 2011
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  • Reply to

    Deciding between RF and KEY

    by stockinvest8888 Aug 16, 2011 11:36 PM
    xiaolei79 xiaolei79 Aug 17, 2011 2:32 PM Flag

    I go for KEY.

  • Reply to

    EFSC-Most Undervalued Stock in Banking Industry

    by xiaolei79 Jul 28, 2011 11:30 AM
    xiaolei79 xiaolei79 Aug 3, 2011 2:22 PM Flag

    Based on EFSC's current fundamentals, and with comparison to its national peers' share prices, I believe EFSC should be traded above $18 per share now. However, the market does not seem to recognize this immediately.

  • Reply to

    EFSC-Most Undervalued Stock in Banking Industry

    by xiaolei79 Jul 28, 2011 11:30 AM
    xiaolei79 xiaolei79 Aug 3, 2011 10:36 AM Flag

    CBIN is too small a bank.
    Extremely poor in assest quality. Even worsened in Q2 compared to Q1.
    Pre-provision earnings per share is pretty high.
    I am not quite interested in banks like this.

  • EFSC is probably the most undervalued stock in the whole banking industry now! (Still under $14.00/share)

    - Net earnings 0.52/share for Q2
    - Net earnings increased quarter-by-quarter
    - Extremely high quality of earnings
    - Asset quality is improving significantly and continuously
    - Loan portfolio is expanding dramatically despite the sluggish economy
    - Core earnings increased significantly
    - Capital strenthened from capital raise at $12.75/share a couple weeks ago
    - Ample liquidity
    - Much benefited from a couple of FDIC-assisted acquisitions during the past two years
    - Should be traded above $20 by the end of 2011

    This is totally a must-have stock and the share price is set to skyrocket.
    I am not paid to advertise, but I am fully loaded with this stock and happy to share with you guys just like my last post about FISI.

    Good luck guys!

  • EFSC is probably the most undervalued stock in the whole banking industry now! (Still under $14.00/share)

    - Net earnings 0.52/share for Q2
    - Net earnings increased quarter-by-quarter
    - Extremely high quality of earnings
    - Asset quality is improving significantly and continuously
    - Loan portfolio is expanding dramatically despite the sluggish economy
    - Core earnings increased significantly
    - Capital strenthened from capital raise at $12.75/share a couple weeks ago
    - Ample liquidity
    - Much benefited from a couple of FDIC-assisted acquisitions during the past two years
    - Should be traded above $20 by the end of 2011

    This is totally a must-have stock and the share price is set to skyrocket.
    I am not paid to advertise, but I am fully loaded with this stock and happy to share with you guys just like my last post about FISI.

    Good luck guys!

  • EFSC is probably the most undervalued stock in the whole banking industry now! (Still under $14.00/share)

    - Net earnings 0.52/share for Q2
    - Net earnings increased quarter-by-quarter
    - Extremely high quality of earnings
    - Asset quality is improving significantly and continuously
    - Loan portfolio is expanding dramatically despite the sluggish economy
    - Core earnings increased significantly
    - Capital strenthened from capital raise at $12.75/share a couple weeks ago
    - Ample liquidity
    - Much benefited from a couple of FDIC-assisted acquisitions during the past two years
    - Should be traded above $20 by the end of 2011

    This is totally a must-have stock and the share price is set to skyrocket.
    I am not paid to advertise, but I am fully loaded with this stock and happy to share with you guys just like my last post about FISI.

    Good luck guys!

  • EFSC is probably the most undervalued stock in the whole banking industry now! (Still under $14.00/share)

    - Net earnings 0.52/share for Q2
    - Net earnings increased quarter-by-quarter
    - Extremely high quality of earnings
    - Asset quality is improving significantly and continuously
    - Loan portfolio is expanding dramatically despite the sluggish economy
    - Core earnings increased significantly
    - Capital strenthened from capital raise at $12.75/share a couple weeks ago
    - Ample liquidity
    - Much benefited from a couple of FDIC-assisted acquisitions during the past two years
    - Should be traded above $20 by the end of 2011

    This is totally a must-have stock and the share price is set to skyrocket.
    I am not paid to advertise, but I am fully loaded with this stock and happy to share with you guys just like my last post about FISI.

    Good luck guys!

  • EFSC is probably the most undervalued stock in the whole banking industry now! (Still under $14.00/share)

    - Net earnings 0.52/share for Q2
    - Net earnings increased quarter-by-quarter
    - Extremely high quality of earnings
    - Asset quality is improving significantly and continuously
    - Loan portfolio is expanding dramatically despite the sluggish economy
    - Core earnings increased significantly
    - Capital strenthened from capital raise at $12.75/share a couple weeks ago
    - Ample liquidity
    - Much benefited from a couple of FDIC-assisted acquisitions during the past two years
    - Should be traded above $20 by the end of 2011

    This is totally a must-have stock and the share price is set to skyrocket.
    I am not paid to advertise, but I am fully loaded with this stock and happy to share with you guys just like my last post about FISI.

    Good luck guys!

  • EFSC is probably the most undervalued stock in the whole banking industry now! (Still under $14.00/share)

    - Net earnings 0.52/share for Q2
    - Net earnings increased quarter-by-quarter
    - Extremely high quality of earnings
    - Asset quality is improving significantly and continuously
    - Loan portfolio is expanding dramatically despite the sluggish economy
    - Core earnings increased significantly
    - Capital strenthened from capital raise at $12.75/share a couple weeks ago
    - Ample liquidity
    - Much benefited from a couple of FDIC-assisted acquisitions during the past two years
    - Should be traded above $20 by the end of 2011

    This is totally a must-have stock and the share price is set to skyrocket.
    I am not paid to advertise, but I am fully loaded with this stock and happy to share with you guys just like my last post about FISI.

    Good luck guys!

  • EFSC is probably the most undervalued stock in the whole banking industry now! (Still under $14.00/share)

    - Net earnings 0.52/share for Q2
    - Net earnings increased quarter-by-quarter
    - Extremely high quality of earnings
    - Asset quality is improving significantly and continuously
    - Loan portfolio is expanding dramatically despite the sluggish economy
    - Core earnings increased significantly
    - Capital strenthened from capital raise at $12.75/share a couple weeks ago
    - Ample liquidity
    - Much benefited from a couple of FDIC-assisted acquisitions during the past two years
    - Should be traded above $20 by the end of 2011

    This is totally a must-have stock and the share price is set to skyrocket.
    I am not paid to advertise, but I am fully loaded with this stock and happy to share with you guys just like my last post about FISI.

    Good luck guys!

  • Reply to

    EFSC-Most Undervalued Stock in Banking Industry

    by xiaolei79 Jul 29, 2011 10:37 PM
    xiaolei79 xiaolei79 Aug 1, 2011 9:05 PM Flag

    Let me give you some insights about book value.

    You are the boss of Nokia, and you've got your book value of $100 per share.
    This $100 includes your inventory, your manufacturing facilities, and your research team.
    Suddenly one day, Apple's iphone comes out, and your Nokia's cell phone selling business is totally stuck.

    Your Nokia cell phone handset inventory has a book of, let's say, $50 per handset.
    The problem is that do you get any buyers at this price as people are turning to iPhone?

    Your Nokia manufacturing facility, let's say, $25 dollars.
    The problem is that are you using them at a full speed, or they are simply sitting in your garage doing nothing.

    Your Nokia research team, let's say, $25.
    The problem is that has the reseach team come out with some better phones compared to iPhone?

    Finally, you still have your $100 per share book value, but what does it really worth?

  • Reply to

    EFSC-Most Undervalued Stock in Banking Industry

    by xiaolei79 Jul 29, 2011 10:37 PM
    xiaolei79 xiaolei79 Aug 1, 2011 8:49 PM Flag

    If thoses banks are trading way below their tangible book values, there must be a reason behind it. How do you think?

    Book values or even tangible book are extremely poor valuation indicators. I do not even look at them at all. There are too many low quality banks that are trading way below their books or tangible books. Many of them even lost their entire book value in a couple of months.

    For exmaple, a bank with book value $10 per share, but has a NPA of 8%. This $10 dollar could be gone in a second once the bank charge-off its bad loans.

    For example, a bank with book value $10 per share, but cannot make its capital adequate to be well capitalized, this $10 dollar means nothing to FDIC, the bank could be closed in a second.

    For example, a bank with book value $10 per share, but doesn't have adequate liquidity or having a bank run. This bank can be dead in a couple of days.

    For example, a bank with book value $10 per share, but the management spends too much and the efficiency is so low. This bank may never make money for its shareholders despite of the book value.

    FFIN has a book value of $10 per share, and it's now trading at over $30, can you tell me why?
    Because of its good Capital adequacy, outstanding management, ample liquidy, Great asset quality, and growth potential, and decent earnings, and ......

    Book value or tangible book are useless unless you are liquidating the bank.
    But if you really want to liquidate the entire bank, you need to make a huge discount.
    This is like your garage sale, can you really sell your stuff at book value?

    There are too many examples during the financial crisis.

    IBCA once has a book value of $20, and only traded $4 or $5 dollars. But when you wake up the second day morning, the $20 book droped to $7. Because they made a public offering with a huge dilution. Outside investors are only willing to pay $1.90 per share for your $21 per share book value.

    Why? because they've got too many bad loans.
    Yes, people owe you money, but they'll never pay you back. But this money stays on your book, even though you'll never get it back.

  • Reply to

    EFSC-Most Undervalued Stock in Banking Industry

    by xiaolei79 Jul 31, 2011 12:37 AM
    xiaolei79 xiaolei79 Aug 1, 2011 8:32 PM Flag

    There are too many examples during the financial crisis.

    IBCA once has a book value of $20, and only traded $4 or $5 dollars. But when you wake up the second day morning, the $20 book droped to $7. Because they made a public offering with a huge dilution. Outside investors are only willing to pay $1.90 per share for your $21 per share book value.

    Why? because they've got too many bad loans.
    Yes, people owe you money, but they'll never pay you back. But this money stays on your book, even though you'll never get it back.

  • Reply to

    EFSC-Most Undervalued Stock in Banking Industry

    by xiaolei79 Jul 31, 2011 12:37 AM
    xiaolei79 xiaolei79 Aug 1, 2011 8:20 PM Flag

    If thoses banks are trading way below their tangible book values, there must be a reason behind it. How do you think?

  • Reply to

    EFSC-Most Undervalued Stock in Banking Industry

    by xiaolei79 Jul 31, 2011 12:37 AM
    xiaolei79 xiaolei79 Aug 1, 2011 8:14 PM Flag

    Book values or even tangible book are extremely poor valuation indicators. I do not even look at them at all. There are too many low quality banks that are trading way below their books or tangible books. Many of them even lost their entire book value in a couple of months.

    For exmaple, a bank with book value $10 per share, but has a NPA of 8%. This $10 dollar could be gone in a second once the bank charge-off its bad loans.

    For example, a bank with book value $10 per share, but cannot make its capital adequate to be well capitalized, this $10 dollar means nothing to FDIC, the bank could be closed in a second.

    For example, a bank with book value $10 per share, but doesn't have adequate liquidity or having a bank run. This bank can be dead in a couple of days.

    For example, a bank with book value $10 per share, but the management spends too much and the efficiency is so low. This bank may never make money for its shareholders despite of the book value.

    FFIN has a book value of $10 per share, and it's now trading at over $30, can you tell me why?
    Because of its good Capital adequacy, outstanding management, ample liquidy, Great asset quality, and growth potential, and decent earnings, and ......

    Book value or tangible book are useless unless you are liquidating the bank.
    But if you really want to liquidate the entire bank, you need to make a huge discount.
    This is like your garage sale, can you really sell your stuff at book value?

  • EFSC is probably the most undervalued stock in the whole banking industry now! (Still under $14.00/share)

    - Net earnings 0.52/share for Q2
    - Net earnings increased quarter-by-quarter
    - Extremely high quality of earnings
    - Asset quality is improving significantly and continuously
    - Loan portfolio is expanding dramatically despite the sluggish economy
    - Core earnings increased significantly
    - Capital strenthened from capital raise at $12.75/share a couple weeks ago
    - Ample liquidity
    - Much benefited from a couple of FDIC-assisted acquisitions during the past two years
    - Should be traded above $20 by the end of 2011

    This is totally a must-have stock and the share price is set to skyrocket.
    I am not paid to advertise, but I am fully loaded with this stock and happy to share with you guys just like my last post about FISI.

    Good luck guys!

  • Reply to

    EFSC-Most Undervalued Stock in Banking Industry

    by xiaolei79 Jul 28, 2011 11:30 AM
    xiaolei79 xiaolei79 Aug 1, 2011 4:51 PM Flag

    In the past ten years, GABC has been a great bank with very stable earnings, juicy dividends, and never disappointed its shareholders. The financial crisis doesn't seem to have any negative impact on GABC. This is absolutely amazing. I feel that its management has been very conservative and outstanding people.

    However, GABC did not grow much in the past ten years, so this bank may be good for senior people, but if you are still young, we have other choices. A good example for a fast growing bank is EWBC, a Chinese-American bank.

    Anyway, let's go back to its fundamentals:

    GABC completed an acquisition on Jan 1, 2011. From its Q1's statements, this acquisition did not seem very great to me. Though it increased its pre-provision earnings per share, it also worsened its asset quality a lot because the acquired bank has relatively more non-performing loans.

    The Q2's performance has totally changed my mind, those folks made a good deal on the acquisition. Non-performing assets reduced by 8%, non-performing loans decreased by 4%.

    More than adequate provision for loan losses is made in recent quarters.

    Net interest income increased; loan portfolio is expanding even excluding the acquisition impact.

    Deposits are growing rapidly, and decent net interest margin 3.95.

    loan is only 73% of deposits, that means big growth potential once the economy recovers.

    Most importantly, the Q2's earning quality is much better than Q1.
    Q2 did not sell securities to boost income.
    Q2 controlled expenses, improved efficiency.
    Q2 increased net interest income.
    Q2 improved asset quality.
    Q2 continues to expand loan portfolio
    Q2 continues to expand deposits rapidly
    Q2 has improved liquidity.

    This quarter is probably their best one during the past one or two years.

    I feel GABC is better in value than SBSI based on Q2's results, and I causiouly expect this trend to continue.

    In short, GABC is a very good choice. If the price goes below $15.50, it would definitely a good value stock.

    This is merely what I think, and I am human, I could be wrong.

    I will take a look on CBIN later.

  • EFSC is probably the most undervalued stock in the whole banking industry now! (Still under $14.00/share)

    - Net earnings 0.52/share for Q2
    - Net earnings increased quarter-by-quarter
    - Extremely high quality of earnings
    - Asset quality is improving significantly and continuously
    - Loan portfolio is expanding dramatically despite the sluggish economy
    - Core earnings increased significantly
    - Capital strenthened from capital raise at $12.75/share a couple weeks ago
    - Ample liquidity
    - Much benefited from a couple of FDIC-assisted acquisitions during the past two years
    - Should be traded above $20 by the end of 2011

    This is totally a must-have stock and the share price is set to skyrocket.
    I am not paid to advertise, but I am fully loaded with this stock and happy to share with you guys just like my last post about FISI.

    Good luck guys!

  • EFSC is probably the most undervalued stock in the whole banking industry now! (Still under $14.00/share)

    - Net earnings 0.52/share for Q2
    - Net earnings increased quarter-by-quarter
    - Extremely high quality of earnings
    - Asset quality is improving significantly and continuously
    - Loan portfolio is expanding dramatically despite the sluggish economy
    - Core earnings increased significantly
    - Capital strenthened from capital raise at $12.75/share a couple weeks ago
    - Ample liquidity
    - Much benefited from a couple of FDIC-assisted acquisitions during the past two years
    - Should be traded above $20 by the end of 2011

    This is totally a must-have stock and the share price is set to skyrocket.
    I am not paid to advertise, but I am fully loaded with this stock and happy to share with you guys just like my last post about FISI.

    Good luck guys!

  • EFSC is probably the most undervalued stock in the whole banking industry now! (Still under $14.00/share)

    - Net earnings 0.52/share for Q2
    - Net earnings increased quarter-by-quarter
    - Extremely high quality of earnings
    - Asset quality is improving significantly and continuously
    - Loan portfolio is expanding dramatically despite the sluggish economy
    - Core earnings increased significantly
    - Capital strenthened from capital raise at $12.75/share a couple weeks ago
    - Ample liquidity
    - Much benefited from a couple of FDIC-assisted acquisitions during the past two years
    - Should be traded above $20 by the end of 2011

    This is totally a must-have stock and the share price is set to skyrocket.
    I am not paid to advertise, but I am fully loaded with this stock and happy to share with you guys just like my last post about FISI.

    Good luck guys!

BBT
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