reports
- Research Team
WOOD Daily: AEGN GA; LAMDA GA; EME Macro/Strategy Weekly; BOCH LN
HEADLINES: • Aegean Airlines: margins and fares normalising, after stellar 2023 (stays HOLD) • Lamda Development: 2Q24 – good sales at the Ellinikon, capex to accelerate • EME Macro/Strategy: macro all-in-one (9-15 September) • Bank of Cyprus: AGM approves delisting from the LSE, and relisting on the ATHEX POSITIVE • Short News (CEZ, RICHT)
- Research Team
The Rear-View Mirror – EME markets: only Czech PX index in positive te...
EME Equity Market – August 2024 A red month for the EME indices, with only the Czech PX index in positive territory. The MSCI EM Europe index declined by 4.7% in EUR terms and 2.6% in USD terms in August. The Czech PX index was the only index to report a positive figure, adding 0.5% mom in EUR terms. The rest of the indices were in the red: the Turkish ISE30 index was down 11.5% mom in EUR terms, followed by Greece (-3.2% mom), Romania (-2.6% mom) and Hungary (-1.2% mom; all in EUR terms). The P...
EUROB EUROBANK ERGASIAS SERVICES & HOLDINGS SA
PEO BANK POLSKA KASA OPIEKI SA
KRU KRUK S.A.
MOL MOL NYRT
EBS ERSTE GROUP BANK AG
BOCH BANK OF COMMERCE HOLDINGS
CEZ CEZ AS
ACP ASSECO POLAND SA
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
CDR CD PROJEKT S.A.
OMV OMV AG
PKO PKO BANK POLSKI S.A.
KOMB KOMERCNI BANKA A.S.
BHW BANK HANDLOWY W WARSZAWIE S.A.
WIZZ WIZZ AIR HOLDINGS PLC
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
BSK ING BANK SLASKI S.A.
BDX BUDIMEX S.A.
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
CAI CA IMMOBILIEN ANLAGEN AG
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
AKCNS AKCANSA CIMENTO
BRISA BRISA-BRIDGESTONE SABANCI LASTIK SANAYI VE TICARET A.S.
CIMSA CIMENTO SANYAI VE TICARET A.S.
LOGO LOGO YAZILIM SANAYI VE TICARET A.S.
CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
GTC GLOBE TRADE CENTRE S.A.
DOM DOM DEVELOPMENT SA
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
MGROS MIGROS TICARET A.S
TKNSA TEKNOSA IC VE DIS TICARET AS
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
LVC LIVECHAT SOFTWARE SA
TBCB TBC BANK JOINT STOCK CO
ALPHA ALPHA BANK AE
PPC PUBLIC POWER CORPORATION S.A.
OTP OTP BANK NYRT
CAR INTER CARS S.A.
FROTO FORD OTOMOTIV SANAYI A.S.
THYAO TURK HAVA YOLLARI A.O.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
EUR EUROCASH S.A.
CPS CYFROWY POLSAT SA
MBR MO-BRUK S.A.
GPW WARSAW STOCK EXCHANGE
11B 11 BIT STUDIOS S.A.
ALR ALIOR BANK SA
OTOEL AUTOHELLAS S.A.
WPL WIRTUALNA POLSKA HOLDING SA
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
ETEL TELECOM EGYPT
MONET MONETA MONEY BANK AS
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
PBK PATRIA BANK SA
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
DIGI DIGI COMMUNICATIONS NV
DNP DINO POLSKA S.A.
NBGGY NATIONAL BANK OF GREECE S.A. ADS
BVB S.C. BURSA DE VALORI BUCURESTI S.A.
GEB BANK OF GEORGIA
RICHT RICHTER
19XX NEPI ROCKCASTLE PLC
M MED LIFE
SFG SPHERA FRANCHISE GROUP SA
ADNOCDIST ADNOC DISTRIBUTION PJSC
NLBR NLB GROUP
ESLT ELBIT SYSTEMS LTD
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
TEN TEN SQUARE GAMES
DUNAHOUSE DUNA HOUSE
KSPI KASPI KZ
PCF PCF GROUP SA
HUGE HUUUGE
4IG 4IG NYRT
IGN1L IGNITIS GRUPE
CTPNV CTP NV
ONE ONE UNITED PROPERTIES SA
GPP GRUPA PRACUJ DA
BCG BALTIC CLASSIFIEDS GROUP PLC
ADNOCDRILL ADNOC DRILLING CO
2381 ARABIAN DRILLING CO.
7202 ARABIAN INTERNET & COMMUNICATIONS SERVICES CO
9526 JAHEZ INTERNATIONAL CO
ELPE HELLENIQ ENERGY
SHO SHOPER SA
4071 ARABIAN CONTRACTING SERVICES CO
7203 ELM CO
AQ AQUILA PART PROD COM
TRESTATES TRADE ESTATES REIC SA
AIRA AIR ASTANA JSC
NOVAL NOVAL PROPERTY
- Research Team
WOOD Daily: BOCH LN; BHW PW; TXT PW; SFG RO; M RO; ELPE GA; MBR PW; NO...
HEADLINES: • Bank of Cyprus: room for further rerating (stays BUY) • Bank Handlowy: writes down remaining goodwill on retail banking fully in 2Q24 NEUTRAL • Text: 1Q24-25 (calendar 2Q24) results – EBITDA down 2% yoy, but 5% above the consensus POSITIVE • Sphera Group: strong 2Q24 results, as expected NEUTRAL • MedLife: 2Q24 confirms operational earnings recovery, net profits still weak NEUTRAL • HELLENiQ Energy: 2Q24 results – weak net income, due to one-off costs NEUTRAL • Mo-BRUK: earnings cal...
- Can Demir
- Miguel Dias
Bank of Cyprus: room for further rerating (stays BUY)
Following the 2Q24 results, BOCH raised its 2024E guidance, driven by better-than-expected trends and a more favourable interest rate outlook. We have revised our 2024E and 2025E net income estimates by 14% and 4%, respectively. The bank plans to improve its market visibility by delisting from the London Stock Exchange (LSE) and relisting on the Athens Stock Exchange (ATHEX). Despite a 24% rerating post-2Q24 earnings, we believe the valuation remains attractive, with our 2024E multiples of 4.8x ...
- Research Team
WOOD Daily: CCOLA TI; HSBK LI; BOCH LN; CCC PW; DNP PW; KAP LI
HEADLINES: • Coca-Cola Icecek: mixed results in 2Q24; 2024E guidance revised downwards NEGATIVE • Halyk Bank: 2Q24 highlights – quarter in line, margin makes up for soft COR and fee growth • Bank of Cyprus: to hold EGM on 13 September • CCC: to purchase 2.5% Modivo shares for PLN 100m NEUTRAL • Dino: 2Q24E preview – 4% yoy EBITDA erosion expected (due on 22 August) • Kazatomprom: 2Q24E results preview (due on 26 August) NEUTRAL
- Research Team
WOOD Daily: OTP HB; BOCH LN; BVB RO; MOL HB; MTELEKOM HB; CEZ CP; CAR ...
HEADLINES: • OTP Bank: 2Q24 results broadly in line, FY24E guidance unchanged, new taxes in Hungary to bite a little NEUTRAL • Bank of Cyprus: 2Q24 highlights POSITIVE • Bucharest Stock Exchange: good volumes drive solid bottom-line delivery in 2Q24 NEUTRAL • MOL: 2Q24 results NEUTRAL • Magyar Telekom: key takeaways from the 2Q24 earnings call NEUTRAL • CEZ: takeaways from the 2Q24 earnings call POSITIVE • Inter Cars: July sales growth jumps to 18% yoy, after disappointing May-June POSITIVE • DI...
- Can Demir
WOOD Flash – Bank of Cyprus: 2Q24 highlights
Bank of Cyprus (BOCH) has reported EUR 138m in net income in 2Q24 (EUR 270m in 1H24) and posted a positive set of results, particularly on the NIM and COR fronts compared to our 2024E expectations and its own guidance. Management has also upgraded the guidance and announced its intentions to delist from LSE and relist on the Athens Stock Exchange (ATHEX), to find more liquidity for the stock. We rate Bank of Cyprus a BUY, with a price target (PT) of GBp 451/share, and we like the results. The ba...
- MarketLine Department
Western Alliance Bancorp - Company Profile and SWOT Analysis
Summary Western Alliance Bancorp - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Western Alliance Bancorporation (WAL) is a bank holding company that provides a wide range of financial services through its banking subsidiary, Western Alliance Bank (WAB). The company's main ...
Columbia Banking System and Bank of Commerce Holdings Announce Shareho...
Columbia Banking System and Bank of Commerce Holdings Announce Shareholder and Regulatory Approvals and Anticipated Merger Closing Date TACOMA, WA and SACRAMENTO, CALIF., Sept. 22, 2021 (GLOBE NEWSWIRE) -- Columbia Banking System, Inc. (NASDAQ: COLB, “Columbia”), the holding company for Columbia State Bank, and Bank of Commerce Holdings (NASDAQ: BOCH, “Bank of Commerce”), the holding company for Merchants Bank of Commerce, today jointly announced approval by Bank of Commerce shareholders for their proposed merger, and the receipt of all required regulatory approvals. The merger was annou...
Bank of Commerce Holdings Announces Third Quarter Cash Dividend of $0....
Bank of Commerce Holdings Announces Third Quarter Cash Dividend of $0.06 per Share SACRAMENTO, Calif., Aug. 18, 2021 (GLOBE NEWSWIRE) -- Bank of Commerce Holdings (NASDAQ: BOCH) (the “Company”), a $1.917 billion asset bank holding company and parent company of Merchants Bank of Commerce (the “Bank”), today announced that the Board of Directors has authorized a cash dividend of $0.06 per share for the 2021 third quarter. The $0.06 per share quarterly cash dividend will be paid to shareholders of record as of September 15, 2021 and is payable on September 29, 2021. About Bank of Comme...
Bank of Commerce Holdings Announces Results for the Second Quarter of ...
Bank of Commerce Holdings Announces Results for the Second Quarter of 2021 SACRAMENTO, California, July 23, 2021 (GLOBE NEWSWIRE) -- Bank of Commerce Holdings (NASDAQ: BOCH) (the “Company”), a $1.917 billion asset bank holding company and parent company of Merchants Bank of Commerce (the “Bank”), today announced financial results for the quarter and six months ended June 30, 2021. Net income for the quarter ended June 30, 2021 was $4.1 million or $0.25 per share – diluted, compared with net income of $3.8 million or $0.23 per share – diluted, for the same period of 2020. Net income for th...
COLUMBIA BANKING SYSTEM, INC. ENTERS CALIFORNIA THROUGH THE ACQUISITIO...
COLUMBIA BANKING SYSTEM, INC. ENTERS CALIFORNIA THROUGH THE ACQUISITION OF BANK OF COMMERCE HOLDINGS TACOMA, Wash. | SACRAMENTO, Calif., June 23, 2021 (GLOBE NEWSWIRE) -- Columbia Banking System, Inc. (NASDAQ: COLB, “Columbia”), the holding company for Columbia State Bank, and Bank of Commerce Holdings (NASDAQ: BOCH, “Bank of Commerce”), the holding company for Merchants Bank of Commerce, today announced the signing of a definitive agreement to merge Bank of Commerce into Columbia in an all-stock transaction valued at approximately $266.0 million, or $15.72 per share of Bank of Commerce c...
Bank of Commerce Holdings Announces Second Quarter Cash Dividend of $0...
Bank of Commerce Holdings Announces Second Quarter Cash Dividend of $0.06 per Share SACRAMENTO, Calif., June 16, 2021 (GLOBE NEWSWIRE) -- Bank of Commerce Holdings (NASDAQ: BOCH) (the “Company”), a $1.829 billion asset bank holding company and parent company of Merchants Bank of Commerce (the “Bank”), today announced that the Board of Directors has authorized a cash dividend of $0.06 per share for the 2021 second quarter. The $0.06 per share quarterly cash dividend will be paid to shareholders of record as of June 29, 2021 and is payable on July 9, 2021. About Bank of Commerce Holdings ...
Bank of Commerce Holdings Announces Results for the First Quarter of 2...
Bank of Commerce Holdings Announces Results for the First Quarter of 2021 SACRAMENTO, Calif., April 16, 2021 (GLOBE NEWSWIRE) -- Bank of Commerce Holdings (NASDAQ: BOCH) (the “Company”), a $1.829 billion asset bank holding company and parent company of Merchants Bank of Commerce (the “Bank”), today announced financial results for the quarter ended March 31, 2021. Net income for the quarter ended March 31, 2021 was $4.9 million or $0.29 per share – diluted, compared with net income of $916 thousand or $0.05 per share – diluted for the same period of 2020. Significant Items for the First Q...
Bank of Commerce Holdings Announces First Quarter Cash Dividend of $0....
Bank of Commerce Holdings Announces First Quarter Cash Dividend of $0.06 per Share SACRAMENTO, Calif., March 17, 2021 (GLOBE NEWSWIRE) -- Bank of Commerce Holdings (NASDAQ: BOCH) (the “Company”), a $1.764 billion asset bank holding company and parent company of Merchants Bank of Commerce (the “Bank”), today announced that the Board of Directors has authorized a cash dividend of $0.06 per share for the 2021 first quarter. The $0.06 per share quarterly cash dividend will be paid to shareholders of record as of March 30, 2021 and is payable on April 9, 2021. About Bank of Commerce Hold...
Bank of Commerce Holdings Announces New Director, Diane D. Miller
Bank of Commerce Holdings Announces New Director, Diane D. Miller SACRAMENTO, Calif., March 05, 2021 (GLOBE NEWSWIRE) -- Bank of Commerce Holdings (NASDAQ: BOCH) (the “Company”), a $1.764 billion asset bank holding company and parent company of Merchants Bank of Commerce (the “Bank”), today announced the addition of Diane D. Miller to the Boards of Directors of both the Company and the Bank, effective March 16, 2021. “We are pleased and excited to have Ms. Miller join our Company. Her diverse background and experience will complement and strengthen our Boards,” said Randall S. Eslick, Pr...
- Jonathan Moreland
XXII 22ND CENTURY GROUP INC.
UEPS NET 1 U.E.P.S. TECHNOLOGIES INC.
STFC STATE AUTO FINANCIAL CORP.
SONA SOUTHERN NATIONAL BANCORP OF VIRGINIA INC.
MACK MERRIMACK PHARMACEUTICALS INC
M MACY'S INC
LNDC LANDEC CORP.
HZN HORIZON GLOBAL CORP.
GTIM GOOD TIMES RESTAURANTS INC
FSP FRANKLIN STREET PROPERTIES CORP.
FFIN FIRST FINANCIAL BANKSHARES INC
COTY COTY INC. CLASS A
CAR AVIS BUDGET GROUP INC.
BSRR SIERRA BANCORP
BOCH BANK OF COMMERCE HOLDINGS
AMG AFFILIATED MANAGERS GROUP INC.
AFG AMERICAN FINANCIAL GROUP INC.
ACRS ACLARIS THERAPEUTICS INC.
AAT AMERICAN ASSETS TRUST INC.
ADS ALLIANCE DATA SYSTEMS CORPORATION
BRO BROWN & BROWN INC.
MPX MARINE PRODUCTS CORP.
RES RPC INC.
UGI UGI CORPORATION
CZNC CITIZENS & NORTHERN CORP.
SGRP SPAR GROUP INC.
CTHR CHARLES & COLVARD LTD.
CNBKA CENTURY BANCORP INC. CL A
BWFG BANKWELL FINANCIAL GROUP
SPLP STEEL PARTNERS HOLDINGS LP LTD.
OCX ONCOCYTE
APEN APOLLO ENDOSURGERY
CNDT CONDUENT INC.
PW POWER REIT
CZWI CITIZENS COMMUNITY BANCORP
INS INTELLIGENT SYSTEMS CORP.
NICK NICHOLAS FINANCIAL INC.
SLCA U.S. SILICA HOLDINGS
FVCB INC.
BW FVCBANKCORP
ONTX BABCOCK & WILCOX ENTERPRISES
HVBC ONCONOVA THERAPEUTICS INC
NSPR HV BANCORP
SRGA INSPIREMD
RILY SURGALIGN HOLDINGS INC
NOG B. RILEY FINANCIAL
CSQ NORTHERN OIL AND GAS
TURN CALAMOS STRATEGIC TOTAL RETURN FUND
YAYO 180 DEGREE CAPITAL
YTEN RIDESHARE RENTAL INC
SOWG YIELD10 BIOSCIENCE
NRGX SOW GOOD INC.
DCOM PIMCO ENERGY & TACTICAL CREDIT OPPORTUNITIES FUND
CPZ DIME COMMUNITY BANCSHARES
INC.
CALAMOS LONG/SHORT EQUITY AND DYNAMIC INCOME TRUST
- Jonathan Moreland
REI RING ENERGY INC.
NUS NU SKIN ENTERPRISES INC. CLASS A
LNDC LANDEC CORP.
KMPR KEMPER CORPORATION
HY HYSTER-YALE MATERIALS HANDLING INC. CLASS A
FFIN FIRST FINANCIAL BANKSHARES INC
FAST FASTENAL COMPANY
CTAS CINTAS CORPORATION
COTY COTY INC. CLASS A
BOCH BANK OF COMMERCE HOLDINGS
AMG AFFILIATED MANAGERS GROUP INC.
ALDX ALDEYRA THERAPEUTICS
AFG AMERICAN FINANCIAL GROUP INC.
BKI BLACK IRON
CCI CROWN CASTLE INTERNATIONAL CORP
CNBKA CENTURY BANCORP INC. CL A
BWFG BANKWELL FINANCIAL GROUP
SPLP STEEL PARTNERS HOLDINGS LP LTD.
GBDC GOLUB CAPITAL BDC INC.
OCX ONCOCYTE
REVG REV GROUP INC.
ESTE EARTHSTONE ENERGY
BRN BARNWELL INDUSTRIES
PW POWER REIT
MTEM MOLECULAR TEMPLATES
RCUS ARCUS BIOSCIENCES
GIM TEMPLETON GLOBAL INCOME FUND
FVCB FVCBANKCORP
BW BABCOCK & WILCOX ENTERPRISES
ONTX ONCONOVA THERAPEUTICS INC
TCON TRACON PHARMACEUTICALS
DMTK DERMTECH INC
BRKB BERKSHIRE HATHAWAY INC.
NSPR INSPIREMD
VYNE VYNE THERAPEUTICS INC
SRGA SURGALIGN HOLDINGS INC
RILY B. RILEY FINANCIAL
DNB DUN AND BRADSTREET HOLDINGS
ATHA ATHIRA PHARMA
NOG NORTHERN OIL AND GAS
HOFV HALL OF FAME RESORT AND ENTERTAINMENT COMPANY (A)
YAYO RIDESHARE RENTAL INC
BSTZ BLACKROCK SCIENCE AND TECHNOLOGY TRUST II
SOWG SOW GOOD INC.
Bank of Commerce Holdings Announces Adoption of Environmental and Soci...
Bank of Commerce Holdings Announces Adoption of Environmental and Social Risk Policy Framework SACRAMENTO, Calif., Feb. 17, 2021 (GLOBE NEWSWIRE) -- Bank of Commerce Holdings (NASDAQ: BOCH) (the “Company”), a $1.764 billion asset bank holding company and parent company of Merchants Bank of Commerce (the “Bank”), today announced that its Board of Directors has adopted a formal Environmental and Social Risk Policy Framework. President and Chief Executive Officer Randall S. Eslick commented, “We are proud to have formally adopted this policy that reflects our corporate beliefs, philosophy a...
- Jonathan Moreland
SONA SOUTHERN NATIONAL BANCORP OF VIRGINIA INC.
MACK MERRIMACK PHARMACEUTICALS INC
HY HYSTER-YALE MATERIALS HANDLING INC. CLASS A
BOCH BANK OF COMMERCE HOLDINGS
KKR KKR & CO. INC.
SLCA U.S. SILICA HOLDINGS
VTA INC.
ONTX INVESCO DYNAMIC CREDIT OPPORTU
CLSK ONCONOVA THERAPEUTICS INC
FSLF CLEANSPARK
CSQ THL CREDIT SENIOR LOAN FUND
CALAMOS STRATEGIC TOTAL RETURN FUND
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