Alacra Pulse Banner
 

Richard Bove, Rochdale Securities

Search Street Pulse:
 
 
Follow Alacra Pulse on Twitter
Latest Analyst Comments by Richard Bove, Rochdale Securities
 

Research Roundup: Citigroup Out of ICU (Research Recap) - 11:46 ET Mar 12, 2010

The government's 27% stake in Citigroup, and the knowledge that it might soon sell some or all of it, remains a damper on the upside for the stock. Rochdale Securities analyst Dick Bove notes that Citi "is no longer a risk management business; it is no longer an acquisition specialist; and it is no longer a transformational company.". 
Recent Research on Citigroup Inc. (C)
Moody's: U.S. bank asset quality stabilizes, but the pain isn't over (Moody's Global Credit Research)- Mar 10, 2010
Moody's changes Citigroup's hybrid securities ratings (Moody's Global Credit Research)- Feb 24, 2010
CITIGROUP INC. (Moody's Global Credit Research)- Feb 16, 2010
more research
Share:  Rochdale Securities analyst <span class="analyst">Dick Bove</span> notes that Citi "is no longer a risk management business; it is no longer an acquisition specialist; and it is no longer a transformational company.". Tweet this 

Commentary: Scaled-down company will be hard-pressed for big profits (MarketWatch) - 15:00 ET Mar 11, 2010

That unit, now part of Citi Holdings, generated $355 million in 2008. Citi also sold its German retail bank, Commercial Credit unit, and its Japanese holdings. The result of all this, as Rochdale Securities analyst Dick Bove notes, is that Citi "is no longer a risk management business; it is no longer an acquisition specialist; and it is no longer a transformational company.". 
Share:  The result of all this, as Rochdale Securities analyst <span class="analyst">Dick Bove</span> notes, is that <span class="company">Citi</span> "is no longer a risk management business; it is no longer an acquisition specialist; and it is no longer a transformational company.". Tweet this 

Citigroup (C) NewsBite - Can Citi Make a Comeback? (MarketIntelligenceCenter) - Mar 11, 2010

Citigroup (C) was covered in a Bloomberg Video Report today and the stock is now at $4.12, up $.16 (3.91%) on volume of 661,016,192 shares traded. To see the video report, and find out what Rochdale Securities analyst Richard Bove has to say about the stock, go to http://www.marketintelligencecenter.com/VideoNews . Over the last 52 weeks the stock has ranged from a low of $1.46 to a high of $5.43 
Share:  To see the video report, and find out what Rochdale Securities analyst <span class="analyst">Richard Bove</span> has to say about the stock, go to http://www.marketintelligencecenter.com/VideoNews . Tweet this 

Bove Says Citigroup (C) Could Double to $8.50/Share (StreetInsider.com - Analyst Comments) - Mar 11, 2010

In a Bloomberg interview, Rochdale bank analyst Dick Bove said Citigroup (NYSE: C ) could double to $8.50 per share.+0.07. +1.77% . Volume: 375,866,788. Track C. Receive full access to all new and archived articles, unlimited portfolio tracking, e mail alerts, custom newswires and RSS feeds , and more! 
Share:  In a Bloomberg interview, Rochdale bank analyst <span class="analyst">Dick Bove</span> said Citigroup (NYSE: C ) could double to $8.50 per share.+0.07. +1.77% . Tweet this 

There's no basis for Pandit's forecast for Citi (MarketWatch) - Mar 11, 2010

The result of all this, as Rochdale Securities analyst Dick Bove notes, is that Citi "is no longer a risk management business; it is no longer an acquisition specialist; and it is no longer a transformational company.". Citigroup is pretty must just a bank. It takes in deposits and lends money. Citi made $11.2 billion in net interest income in 2009 
Share:  The result of all this, as Rochdale Securities analyst <span class="analyst">Dick Bove</span> notes, is that <span class="company">Citi</span> "is no longer a risk management business; it is no longer an acquisition specialist; and it is no longer a transformational company.". Tweet this 

MarketWatch First Take: There's no basis for Pandit's forecast for Citi (MarketWatch.com - Top Stories) - Mar 11, 2010

The result of all this, as Rochdale Securities analyst Dick Bove notes, is that Citi "is no longer a risk management business; it is no longer an acquisition specialist; and it is no longer a transformational company.". Citigroup is pretty must just a bank. It takes in deposits and lends money. Citi made $11.2 billion in net interest income in 2009 
Share:  The result of all this, as Rochdale Securities analyst <span class="analyst">Dick Bove</span> notes, is that <span class="company">Citi</span> "is no longer a risk management business; it is no longer an acquisition specialist; and it is no longer a transformational company.". Tweet this 

BofA 'Comfortable' Bank Can Absorb Home-Equity Losses (BusinessWeek) - Mar 11, 2010

House Financial Services Chairman Barney Frank demanded this week that Bank of America and three more of the biggest lenders write down the value of more second mortgages to make it easier to restructure home loans. Banks should focus on permanent principal reductions to make payments sustainable, according to the Massachusetts Democrat. "People don't want to cut off their home equity credit lines and are willing to pay," said Richard Bove, an analyst at Rochdale Securities LLC, who has a "buy" rating on Bank of America. "Early stage delinquencies on home equity loans are coming down for the industry as a whole.". U. S. Treasury Secretary Timothy Geithner praised Bank of America's plan to prevent customers from spending more than they have in accounts linked to debit cards and avoid overdraft fees 
Recent Research on Bank of America Corporation (BAC)
Moody's: U.S. bank asset quality stabilizes, but the pain isn't over (Moody's Global Credit Research)- Mar 10, 2010
BANK OF AMERICA CORPORATION (Moody's Global Credit Research)- Feb 16, 2010
more research
Share:  "People don't want to cut off their home equity credit lines and are willing to pay," said <span class="analyst">Richard Bove</span>, an analyst at Rochdale Securities LLC, who has a "buy" rating on <span class="company">Bank of America</span>. Tweet this 

BofA's Chief 'Comfortable' Lender Can Absorb Home-Equity Losses (Bloomberg) - Mar 11, 2010

House Financial Services Chairman Barney Frank demanded this week that Bank of America and three more of the biggest lenders write down the value of more second mortgages to make it easier to restructure home loans. Banks should focus on permanent principal reductions to make payments sustainable, according to the Massachusetts Democrat."People don't want to cut off their home equity credit lines and are willing to pay," said Richard Bove , an analyst at Rochdale Securities LLC, who has a "buy" rating on Bank of America. "Early stage delinquencies on home equity loans are coming down for the industry as a whole.". U. S. Treasury Secretary Timothy Geithner praised Bank of America's plan to prevent customers from spending more than they have in accounts linked to debit cards and avoid overdraft fees 
Share:  don't want to cut off their home equity credit lines and are willing to pay," said <span class="analyst">Richard Bove</span> , an analyst at Rochdale Securities LLC, who has a "buy" rating on <span class="company">Bank of America</span>. Tweet this 

Closing Wrap-Up, March 10 (Optionetics) - Mar 10, 2010

Financials led the gains Wednesday on positive analyst comments and merger rumors. Citigroup ( C ) shares gained 3.66 percent to $3.96 on positive comments from Rochdale analyst Dick Bove. Mr. Bove expects bank stocks to gain popularity as dividends increase. Citi also priced its preferred offering of 80 million shares at $25 with an 8.5 percent yield. Rumors that Barclays (BCS) is looking to buy a U. S bank also provided gains for several stocks 
Share:  Citigroup ( <span class="company">C</span> ) shares gained 3.66 percent to $3.96 on positive comments from Rochdale analyst <span class="analyst">Dick Bove</span>. Mr. Bove expects bank stocks to gain popularity as dividends increase. Tweet this 

How Goldman Sachs Could Best the Stimulus and Save Its Soul (FOXNews) - Mar 10, 2010

Rightly so. Rather than scattering fairy dust, Goldman should immediately establish a $10 billion facility ready to buy the non secured portion of Small Business Administration loans from community and regional banks, which would overnight expand monies available to that sector of the economy. Though the government has moved to (temporarily) guarantee 90% of SBA loans, the exposed 10% still creates issues for many small banks anxious about capital, credit risk and regulatory oversight. According to Rochdale Securities analyst Richard Bove, Goldman already has relationships with such banks, and certainly has the asset base necessary to pledge $10 billion. The American public is well aware that some 70% of new jobs in the past decade have come from mom and pop outfits 
Recent Research on The Goldman Sachs Group, Inc. (GS)
Moody's lowers Goldman's hybrid securities ratings (Moody's Global Credit Research)- Feb 25, 2010
Summary: Goldman Sachs Group Inc. (The) (S&P Credit Research)- Feb 08, 2010
Goldman Sachs Group Inc. (The) (S&P Credit Research)- Feb 08, 2010
more research
Share:  According to Rochdale Securities analyst <span class="analyst">Richard Bove</span>, <span class="company">Goldman</span> already has relationships with such banks, and certainly has the asset base necessary to pledge $10 billion. Tweet this 

Bank of America (BAC) NewsBite - BAC Rises on Analyst's Comments (MarketIntelligenceCenter) - Mar 10, 2010

BAC shares are rising with other large banks this morning after Rochdale Securities analyst Dick Bove gave BAC's competitor Citigroup (C) a strong endorsement on CNBC this morning. 
Share:  <span class="company">BAC</span> shares are rising with other large banks this morning after Rochdale Securities analyst <span class="analyst">Dick Bove</span> gave <span class="company">BAC</span>'s competitor Citigroup (C) a strong endorsement on CNBC this morning. Tweet this 

Over the last 52 weeks the stock has ranged from a low of $4.20 to a high of $19.10. BAC shares are rising with other large banks this morning after Rochdale Securities analyst Dick Bove gave BAC's competitor Citigroup (C) a strong endorsement on CNBC this morning. He said the businesses which Citi plans to keep are all strong, and that the bank could be a strong investment in the long term 
Share:  BAC shares are rising with other large banks this morning after Rochdale Securities analyst <span class="analyst">Dick Bove</span> gave BAC's competitor Citigroup (<span class="company">C</span>) a strong endorsement on CNBC this morning. Tweet this 

Dick Bove Explains Recent Upside in Citi Shares: Rumors Abound, But Pandit's Conviction In Front of Congress is What's Giving Shareholders Confidence (StreetInsider.com - Analyst Comments) - Mar 10, 2010

On CNBC's Squawk Box this morning, Rochdale's Dick Bove highlighted several reasons why he believes traders have been gobbling up shares of Citigroup (NYSE: C ) over the last month or so. The stock has surged more than 21% since recent lows of $3.15; a majority of that upside has come in just the last four trading sessions. Shares are Citi are adding another 4% onto recent gains this morning. The stock last traded around $3.98 
Share:  On CNBC's Squawk Box this morning, Rochdale's <span class="analyst">Dick Bove</span> highlighted several reasons why he believes traders have been gobbling up shares of Citigroup (NYSE: C ) over the last month or so. Tweet this 

Morning Watch, March 10 (Optionetics) - Mar 10, 2010

Merger activity is a positive for stocks, not only because it spurs other merger rumors and activity, but it also shows faith in the economy and the future. Shares of Citi are up 2.5 percent in early trading to a price above $3.90. Richard Bove, an analyst at Rochdale Securities, stated the stock could see strong gains in the long term. Citi has priced a $2 billion preferred offering at $25 and the issue is oversubscribed. Mr. Bove feels that dividend yields will rise sharply on bank issues the next few years, making long term investing in these shares very profitable 
Share:  <span class="analyst">Richard Bove</span>, an analyst at Rochdale Securities, stated the stock could see strong gains in the long term. <span class="company">Citi</span> has priced a $2 billion preferred offering at $25 and the issue is oversubscribed. Tweet this 

Bove Upbeat on Citigroup's Turnaround Plans (Fox Business: Finance) - Mar 09, 2010

Influential banking analyst Dick Bove said Citigroup's ( C ) stock jumping to a four month high Tuesday reflects, in part, the growing realization that the bank is in the midst of a turnaround and a transformation to its pre Sandy Weill days. The bullishness on Citi, which was rescued by the U. S government during the financial crisis, shows an "understanding that the company has in place the elements of a turnaround" and the ability to eventually produce earnings power in the "60 cent to 70 cent arena," Bove, an analyst at Rochdale Securities, told FOX Business.com 
Share:  Influential banking analyst <span class="analyst">Dick Bove</span> said <span class="company">Citi</span>group's ( C ) stock jumping to a four month high Tuesday reflects, in part, the growing realization that the bank is in the midst of a turnaround and a transformation to its pre Sandy Weill days. Tweet this 

Dow Snaps Win Streak Amid Reform Worries (CNBC) - Mar 03, 2010

The president also called for Congress to vote on health care reform. Pfizer stock took an additional hit, down 1.6%, after the drug maker said an Alzheimer's drug it was developing with Medivation failed to reach goals in a late stage study. And Goldman Sachs shares had the added weight of one analyst's remarks: Rochdale Securities analyst Dick Bove slashed his forecast for the brokerage, citing weak trading activity. Its shares fell 0.7% 
Recent Research on Pfizer Inc. (PFE)
Pfizer at Goldman Sachs CEO Unplugged Conference (Thomson Street Events)- Jan 06, 2010
more research
Share:  And Goldman Sachs shares had the added weight of one analyst's remarks: Rochdale Securities analyst <span class="analyst">Dick Bove</span> slashed his forecast for the brokerage, citing weak trading activity. Tweet this 

Dick Bove Cuts Goldman Sachs Q1 Estimates to $3.99 (Wall Street Pit (blog)) - Mar 03, 2010

Dick Bove Cuts Goldman Sachs Q1 Estimates to $3.99 By editor | | Author's Website   . Rochdale Securities Analyst Dick Bove cut his estimates for Goldman Sachs ( GS ) yesterday, explaining that trading activity is not up to Goldman's normal standards. 
Share:  <span class="analyst">Dick Bove</span> Cuts <span class="company">Goldman Sachs</span> Q1 Estimates to $3.99 By editor | | Author's Website   . Rochdale Securities Analyst <span class="analyst">Dick Bove</span> cut his estimates for <span class="company">Goldman Sachs</span> ( GS ) yesterday, explaining that trading activity is not up to Goldman's normal standards. Tweet this 

Goldman Sachs: Financial Winners & Losers (TheStreet.com) - Mar 03, 2010

Goldman Sachs ( GS Quote ) was among the losers of the financial sector Wednesday after a bank analyst slashed his 2010 earnings forecast. shares were down 0.4% after Rochdale Securities analyst Dick Bove said late Tuesday that the bank's first quarter results could disappoint due to weak trading activity. "Trading fell precipitously in many markets," Bove wrote in a research note. "This is likely to cause first quarter results to be disappointing unless there is some alleviation of the pressure in March." 
Share:  shares were down 0.4% after Rochdale Securities analyst <span class="analyst">Dick Bove</span> said late Tuesday that the bank's first quarter results could disappoint due to weak trading activity. Tweet this 

Bove Says BofA (BAC) Shares Could Double by Year-End (StreetInsider.com - Analyst Comments) - Mar 03, 2010

Popular banking analyst Dick Bove of Rochdale Securities today said that shares of BofA (NYSE: BAC ) "may double in price this year." With the stock trading around $16.50 today (up about 0.5% from yesterday's close), Bove's comment implies a price of about $33 for BofA's stock 
Share:  Popular banking analyst <span class="analyst">Dick Bove</span> of Rochdale Securities today said that shares of BofA (NYSE: BAC ) "may double in price this year." Tweet this 

Dick Bove Bashes Goldman Sachs For Getting Scared Out Of Market By Greek Debt Crisis (The Business Insider) - Mar 03, 2010

Dick Bove cut his estimates for Goldman Sachs yesterday, explaining that trading activity had dried up as the Greek debt crisis unfolded. . The Rochdale Securities Analyst told CNBC's Fast Money last night that Goldman looked like it was going to have a very strong quarter until fears steming from Greece arose. .  "All of a sudden, when the Greece situation developed toward the end of January .. then basically, trading just dried up. Sector by sector you saw a significant decline in trading activity," Bove said 
Share:  <span class="analyst">Dick Bove</span> cut his estimates for <span class="company">Goldman Sachs</span> yesterday, explaining that trading activity had dried up as the Greek debt crisis unfolded. Tweet this 

Bio
 

Richard Bove

Rochdale Securities

Quotability Rating:
Quotability Index: the stars indicate how frequently this analyst is quoted in the Street Pulse sources. Five stars represent the top quintile, four stars the next and so forth.
This is me
Richard Bove

About Richard Bove:

Mr. Bove, a distinguished industry veteran, covers the financial services and banking sector. Mr. Bove's research has received recognition from a number of industry sources over the years. He has appeared approximately 400 times in recent years on the popular business channels. He is also extensively quoted in the print media. From time to time, Mr. Bove has been contacted by the banking regulators up to and including the White House for his thoughts on the industry. Mr. Bove was rated by Zack's as its five star analyst for his stock picks in 2001. He has also been selected 9 times as an All-American analyst team member and was cited three times by the Wall Street Journal for stock picks and/or earnings estimate accuracy. Mr. Bove entered the securities industry at the end of 1965. Since that time he has held positions as a salesperson, analyst and director of research with firms such as Wertheim, Shearson, Raymond James and Hoefer & Arnett and Punk Ziegel and Company. For most of this period his focus has been on companies in the bank and financial sector but he has also covered building and business services companies.

Analyst Comment Ticker
 
Key:
  • Sell-side Sell-side
  • Blog Blog
  • Credit Analyst Credit
  • Industry Analyst Industry

Copyright © 2010 Alacra, Inc., 100 Broadway, Suite 1100, New York, NY 10005. All rights reserved.

Reproduction in whole or in part in any form or medium without express written permission is prohibited.