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Big Banc Split Corp T.BNK

Alternate Symbol(s):  T.BNK.PR.A

Financial Services Asset Management
The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.


TSX:BNK - Post by User

Big Banc Split Corp
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Comment by BrokerGon Jul 05, 2013 9:59am
56 Views
Post# 21590586

RE:Sure is sweet!!!

RE:Sure is sweet!!!Latest from NBF research:

Overall, another solid operations update from BNK highlighted by a fifth consecutive quarter of production growth (up ~5% q/q) and the company on track to outpace its 10-15% y/y growth guidance. The stock trades at ~2.8x EV/DACF 2013e and 2.5x 2014e, what we believe is an unwarranted discount to international peers at 4.5x EV/DACF and 3.0x, respectively. We continue to like BNK, not only for its compelling valuation, but because of the operational momentum build at the company and the potential for a larger re-rate trade unfolding. If we even see a modest re-rate to the group average of 3.0x EV/DACF in 2014e over the near term, this would equate to a share price of around $3.50.

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