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MEGA FINANCIAL HOLDING is slightly downgraded to Slightly Positive due...
The independent financial analyst theScreener just slightly lowered the general evaluation of MEGA FINANCIAL HOLDING (TW), active in the Money Center Banks industry. As regards its fundamental valuation, the title confirms its rating of 4 out of 4 stars while its market behaviour remains unchanged and can be qualified as defensive. However, a marginally less favourable environment forces theScreener to downgrade slightly the title, which now shows an overall rating of Slightly Positive. As of th...
- Dave Nicoski
- Ross LaDuke
Vermilion Int'l Compass: Global Equity Strategy
Europe & the UK remain in focus The MSCI ACWI ex-U.S. is breaking topside its nearly 14-month downtrend and above key resistance. The move is being fueled by improvements throughout most of Europe and the UK, along with strength in China over the past 2-3 months. We believe these positive developments are supportive of higher equity prices moving forward. As a result of these and several other observations highlighted below, our outlook on global equities is positive. • Europe & the UK. As h...
KN NATIXIS
ZURN ZURICH INSURANCE GROUP LTD
BAER JULIUS BAER GRUPPE AG
EXAE HELLENIC EXCHANGES SA
GBLB GROUPE BRUXELLES LAMBERT SA
MFC. MANULIFE FINANCIAL CORPORATION
2886 MEGA FINANCIAL HOLDING CO. LTD.
ALV ALLIANZ SE
LLOY LLOYDS BANKING GROUP PLC
KBC KBC GROUP N.V.
BALN BALOISE-HOLDING AG
RF EURAZEO SA
ISP INTESA SANPAOLO S.P.A.
ADM ADMIRAL GROUP PLC
INVE B INVESTOR AB CLASS B
STJ ST. JAMES'S PLACE PLC
SBVG SPAREBANK 1 BV
8382 CHUGOKU BANK LIMITED
UCG UNICREDIT S.P.A.
CMBN CEMBRA MONEY BANK AG
OTP OTP BANK NYRT
US UNIPOLSAI ASSICURAZIONI S.P.A.
PNB PUNJAB NATIONAL BANK
INGA ING GROEP NV
NWG NATWEST GROUP PLC
SAN BANCO SANTANDER S.A.
EXO EXOR N.V.
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
PDL PENDAL GROUP LIMITED
WIZS3 WIZ SOLUCOES E CORRETAGEM
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Stable earnings in 1Q16; better performance in 2H16
Mega FHC posted 1Q16 earnings of NT$7.7 bn and EPS of NT$0.56, in line with our and consensus expectations.​We reiterate BUY on Mega FHC given 1) the 6% cash dividend is attractive; and 2) we expect its profitability to be more stable than peers as a high proportion of F/X loans could protect it from the negative impact of the TCB’s rate cuts. In light of Mega FHC’s defensive position, we continue to view it as our top pick among Taiwan financials
Defensive play with high dividend yield - 2886 TT; BUY
​Mega FHC is our top pick among Taiwan financials given its 1) high F/X loan position to protect NIM from declining with the Central Bank’s rate cut; 2) ability to deliver an attractive dividend yield of 6.5% despite a volatile macro environment; and 3) 10.1% ROE in 2016F (industry avg 9.3%).
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