業種
Commercial Banks
Commercial Banks のすべてのレポート — 全 8 件。
44/100
Itaú Unibanco: A 24.3% ROE on 1.9% NPLs, Fee-and-Insurance Guidance Cut to 2–5%, and 2.28 Times Book That Already Prices Durable Excess Returns
Itaú Unibanco is Brazil's largest private-sector banking group, earning primarily from client financial margin, fees, insurance and credit across retail, wholesale and wealth franchises, with Brazil accounting for 83% of a R$1.522tn credit portfolio. Q2 2026 recurring managerial profit reached R$12.407bn on a 24.3% ROE while the 90-day NPL ratio stayed at 1.9% for a sixth consecutive quarter, but the 15–90-day delinquency ratio rose to 1.8%, fees-plus-insurance growth guidance was cut to 2–5% from 5–9%, and the 30-basis-point gap between the 13.8% Tier 1 ratio and the Board's 13.5% distribution reference is worth only about R$4.7bn. Rating Hold: at US$8.43 the ADS trades at about 2.28 times June book, inside the US$6.70–9.10 acceptable-hold band against values of roughly US$6.0 conservative, US$7.9 base and US$10.5 optimistic, so the margin of safety is not obvious and the ideal buy price is US$4.40–4.80.
39/100
Regions Financial Corporation: A Long-Term Value Investment Study
A regional bank with above-average operating quality and a low-cost deposit franchise at its core, but at $27.83 the stock is already close to fair value with insufficient margin of safety, warranting a Watch rating.
39/100
M&T Bank: A Long-Term Owner's Perspective on a U.S. Regional Bank
M&T Bank posts a 2025 ROTCE of 15.36%, an NPL ratio of 0.89%, and CET1 of 10.33%, each ahead of peers. Yet at 1.85x P/TBV it trades with no meaningful discount to USB or TFC. Rating Watch: the $215 share price is a fair price for a good bank, not a cheap trade, with an ideal entry range of $165-185.
39/100
Huntington Bancshares In-Depth Value Investing Research
Huntington Bancshares is a multi-state Midwest regional bank, posting 2025 ROTCE of 15.7% and CET1 of 10.4%. After back-to-back Veritex and Cadence mergers, the bank has entered an integration phase, and the current P/TBV of 1.68x is not distressed pricing. Rating Watch: the margin of safety is not yet sufficient.
39/100
Fifth Third Bancorp: A Long-Term Business Owner's Perspective
The 9th-largest U.S. bank after its Comerica merger, with commercial payments and wealth management outperforming a typical rate-spread regional lender. At about $49.5 per share (roughly 1.4x P/B, 2.2x P/TBV), the price already front-loads merger synergies that have not yet been proven. Rating Watch: a solid bank, but not one priced with much room for error.
44/100
JPMorgan Chase: A Value-Investing Analysis Through a Long-Term Business Owner's Lens
America's leading diversified financial platform, with steadily rising ROTCE and TBVPS. At the current price of $306.38 the stock sits near the upper edge of its fair-value range, where the market already awards a clear quality premium and the margin of safety is not obvious. Rating Watch: an outstanding business, but fairly to slightly richly priced.
41/100
BAC: A Long-Term Owner Perspective Value Analysis
The second-largest U.S. commercial bank, with 2025 revenue of $113.1 billion and ROTCE of 14.22% on a solid platform. At the current price of $51.8 (about 1.34x book value / 1.80x tangible book value), it reads more as a 'good company at a fair price' than a bargain, with an ideal buy range of $40-45. Rating: Watch.
41/100
Citigroup Deep Value Investment Analysis
Global institutional banking's Services franchise is Citigroup's most valuable business. 2026 Q1 RoTCE rose to 13.1%, CET1 to 12.7%, and TBVPS to $99.01. At $125.09, the stock sits near the lower end of the $120-145 fair-value range — Rating Watch: regulatory remediation and a sustained 11-15% consolidated RoTCE remain unproven.