Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

North American Financial 15 Split Corp T.FFN

Alternate Symbol(s):  FNCSF

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in the amount of over 5.5% annually and to pay the holders of the preferred shares a certain price per preferred share on or about the termination date. Its investment objectives with respect to class A shares are to provide holders of class A shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.


TSX:FFN - Post by User

Post by mousermanon Apr 14, 2021 2:58pm
135 Views
Post# 32994207

TD 's take on the US Bank earnings so far...

TD 's take on the US Bank earnings so far...

April 14 (Reuters) - The S&P 500 dipped after hitting a record high for the fourth session in five and the Dow Industrials rose on Wednesday, as Wall Street banks kicked off earnings season with first-quarter numbers that lifted hopes for a strong corporate rebound.

Goldman Sachs Group Inc rose 3.4% after it reported a massive jump in profit, capitalizing on record levels of global dealmaking activity.

JPMorgan Chase & Co's shares fell 1.4% even as the largest U.S. bank's earnings jumped almost 400%, as it released more than $5 billion in reserves to cover coronavirus-driven loan defaults.

Wells Fargo & Co jumped 5.5% after the bank bounced back to a profit of almost $5 billion, ahead of Wall Street estimates, as it reduced bad loan provisions and got a grip on costs tied to its sales practices scandal.

"The bank earnings were strong, but the market expected them to be strong," said Christopher Grisanti, chief equity strategist at MAI Capital Management.

"So the question becomes how do the bank stocks rise more from here. That's not clear. They have had a nice ride. I think there will be other places to make money more easily in the future."

Despite bumper trading and investment-banking revenue, lending by both JP Morgan and Wells Fargo fell from a year ago. Investors will be watching this metric carefully in the upcoming earnings of smaller banks, which are more focused on traditional lending and deposit-taking.

"Financials have done well for a while, so we're happy with that now but will we reach a point of diminishing returns in that sector? I don't know," said Drew Horter, president and chief investment officer of Tactical Fund Advisors in Cincinnati.

The S&P 500 financials sector was one of the best performers in the first quarter, rising 15% even as the Federal Reserve pledged to keep interest rates low in the near future. It rose a further 0.8% on Wednesday.

The S&P 500 energy sector was the largest gainer among the 11 sub-indexes, jumping 3.1% as it tracked higher oil prices.

 
<< Previous
Bullboard Posts
Next >>