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Christopher F. Davis

 
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  • Update: TrustCo Bank's Q3 Earnings - I Remain Resolute
    Yesterday, 7:04 PM TRST 3 Comments

    Summary

    • TrustCo Bank has just announced its third-quarter results, and virtually every measure of asset quality improved year-over-year.
    • When I recently covered the stock, I predicted continued loan and deposit growth.
    • The present news is bullish, and with the stock yielding 4%, I think it is a bargain.
  • Update: Cathay General Bancorp Q3 Earnings - Headlines So-So, Key Metrics Stellar
    Yesterday, 11:54 AM CATY Comment!

    Summary

    • Cathay General Bancorp has just announced its third quarter results, missing on revenues but it beat consensus estimates by $0.01.
    • I predicted growth in loans and deposits and the bank far exceeded them.
    • The news has me even more bullish; I think you need to consider this growing regional bank.
  • Huntington Bancshares: Why I See Upside
    Yesterday, 11:27 AM HBAN Comment!

    Summary

    • After unanswered reader inquiries and seeing the results of Huntington Bancshares recent quarter, I decided it was time to initiate coverage.
    • Most key metrics of the bank improved.
    • Rising expenses impacted earnings but was mostly due to the growth initiatives of the company and restructuring plans.
    • The dividend, loans and deposit activity tell the story I need to hear.
  • Update: East West Bancorp's Q3 Earnings - Continued Substantial Growth
    Tue, Oct. 21 EWBC Comment!

    Summary

    • East West Bancorp has just announced its third quarter earnings of $88.8 million or $0.62 per diluted share.
    • I predicted strong earnings growth as well as loan and deposit growth.
    • The positive quarter strengthens my bullish stance.
  • Update: CYS Investments Reports Q3 Earnings - The Good, The Bad And The Ugly
    Mon, Oct. 20 CYS 13 Comments

    Summary

    • CYS Investments just reported Q3 earnings, which had few strengths and saw multiple key metrics worsen quarter-over-quarter.
    • I recently opined that CYS was to be avoided in favor of AGNC, NLY and WMC, as CYS' performance was a concern.
    • The present news reinforces my outlook of CYS relative to its competitors, and has turned me from neutral to bearish on CYS.
  • Update: Hecla Mining Announces Preliminary Q3 Production - The Good News And The Bad News
    Mon, Oct. 20 HL 3 Comments

    Summary

    • Hecla Mining has just announced its preliminary 3rd-quarter production results, and the news is quite strong, as production increased year-over-year.
    • When I highlighted Hecla, I opined that the company was strong, given its likelihood of rising production and low production costs.
    • The present news supports my thesis, and I remain long-term bullish, but the stock will remain under pressure until precious metals' prices rebound.
  • Update: First Niagara Announces Large Consolidation - Efficiency Continues To Improve
    Fri, Oct. 17 FNFG 7 Comments

    Summary

    • First Niagara Financial Group has just announced that it will be making a large consolidation of its operations, consolidating 17 branches.
    • In my in-depth article, I specifically mentioned that I liked that the bank was planning to optimize its banking operations going forward, but did not predict this many closures.
    • The present news does not change my thesis on the company overall, but should serve to decrease expenses and increase shareholder value.
  • Update: American Capital Agency Announces New Dividend - Did We Just Get A Raise?
    Fri, Oct. 17 AGNC 17 Comments

    Summary

    • American Capital Agency has just declared its first monthly dividend payment of $0.22.
    • When I last covered American Capital Agency in depth, I predicted that the dividend cuts were over and that the company was committed to keeping its payout steady.
    • The news is bullish; did we just get a dividend hike?
  • Update: Union Bankshares Announces Dividend - No Hike As I Predicted, Yet
    Thu, Oct. 16 UNB Comment!

    Summary

    • UNB will pay a quarterly cash dividend of $0.26 in line with the previous payout.
    • In my last article I had directly suggested a dividend hike was possible.
    • The dividend (yielding 4.43% annually) being maintained is somewhat disappointing for my prediction but key metrics continue to improve and I maintain a hike is likely in 2015.
  • Chimera Investment Corporation: Very Impressive
    Thu, Oct. 16 CIM 22 Comments

    Summary

    • I've long avoided Chimera as it was a weak company.
    • Over the last few quarters, this has changed.
    • A review of the key metrics has impressed me.
    • I'm finally comfortable with this stock as it is showing me the money.
  • Update: RXi Pharmaceuticals Reports Insider Purchasing - Impact To My Thesis
    Thu, Oct. 16 11 Comments

    Summary

    • RXi Pharmaceuticals has just filed a form 4 with the Securities Exchange Commission.
    • In my recent coverage of RXi I opined shares were attractive after a 40% plus sell-off but did not predict the CEO would be buying shares.
    • The present news is bullish. Absolutely nothing has changed with the company since the company started its sell-off and I remain positive on the company and its stock's prospects.
  • Update: Union Bankshares Reports Q3 Earnings - Slow And Steady Wins The Race
    Thu, Oct. 16 UNB Comment!

    Summary

    • Union Bankshares just reported third quarter 2014 earnings of $0.47 per share.
    • In my in very recent in-depth article on UNB, I had said that UNB's recent reports were incredibly healthy and predicted this one would be as well.
    • This earnings report is certainly positive and reinforces my bullish outlook.
  • Update: Fifth Third Bancorp's Q3 Earnings - It Just Earned A Downgrade
    Thu, Oct. 16 FITB 4 Comments

    Summary

    • Fifth Third Bancorp just reported Q3 earnings which were mixed at best.
    • In my in depth article I predicted strong growth from the bank but it saw year-over-year earnings declines.
    • The present news alters my bullish stance to a more neutral outlook.
  • Irrational Ebola Fears: What To Do And What Not To Do
    Wed, Oct. 15 DIA, GLD, IBIO 82 Comments

    Summary

    • Markets are being crushed in October in part due to 24/7 fear coverage of ebola.
    • The epidemiological facts conflict fear driven ebola media sensationalism and irrational market action.
    • What to do.
    • What not to do.
  • Is This The Most Stable Of The mREITs?
    Sat, Oct. 11 CMO 12 Comments

    Summary

    • Capstead Mortgage has been one of the most reliable of the mREITs in the last few years, but is it more stable than the largest companies in the sector?
    • Is the dividend safe?
    • What is going on with the share price versus book value?
    • Is this a buying opportunity?
  • Monthly Versus Quarterly Dividends: The 30-Year Case Of A Popular mREIT
    Sat, Oct. 11 AGNC 47 Comments

    Summary

    • American Capital Agency is switching from a quarterly to monthly payout, which has triggered debate over the advantages and disadvantages of the move.
    • A mathematical walkthrough illustrates the impact of this move to a 30-year investor.
    • The logic can be applied to any REIT or dividend payer.
    • How substantial is the impact of quarterly versus monthly compounding?
  • Hatteras Financial: Time To Get On Board With This Heavily Discounted 10.8% Yielder?
    Thu, Oct. 9 HTS 5 Comments

    Summary

    • I have avoided Hatteras stock given it was a serial dividend cutter.
    • Things seem to be stabilizing, but are they?
    • A review of the key metrics and trajectory of its performance helps an mREIT investor draw the right conclusion.
  • Cathay General Bancorp: Projections Suggest 20% Plus Upside In This Unknown Regional Bank
    Thu, Oct. 9 CATY 1 Comment

    Summary

    • Cathay General Bancorp is grossly under-studied.
    • This is a small regional bank with a foothold in key US markets and markets in greater China.
    • The bank is seeing substantial improvement in most key metrics.
    • Conservative projections for earnings suggest a 20% plus upside.
  • CYS Investments: The View Of An mREIT Investor
    Wed, Oct. 8 CYS 6 Comments

    Summary

    • I have yet to opine on CYS Investments.
    • I compare the key metrics of CYS to those of its largest competitors.
    • CYS trades at an 18% discount-to-book; is it warranted?
  • Update: RXi Pharmaceuticals Presents New RXI-109 Phase 2a Data, Bull Case Strengthens
    Tue, Oct. 7 RXII 15 Comments

    Summary

    • RXi Pharmaceuticals just released new results from its review of the first two enrolled patients' clinical photographs in the first Phase 2a clinical trial of RXI-109.
    • When I recently opined on the attractiveness of RXi stock, I had highlighted the potential of the company’s multi-center randomized controlled trial on scar prevention.
    • The improvement is crystal clear; the bull case has just gotten much stronger.
  • Update: Goldcorp's El Morro Gold And Copper Mine Progress Halted - Bull Thesis Hampered
    Tue, Oct. 7 GG 10 Comments

    Summary

    • Goldcorp has just been dealt a blow, learning that Chile's Supreme Court has halted the development of the El Morro gold and copper mine.
    • When I suggested accumulating Goldcorp while waiting for a turnaround in gold prices, I was clear regarding geopolitical risks but did not see this bad news coming.
    • For now, my original thesis stands, but this news has impacted the positive outlook.
  • Update: Goldcorp Announces Dividend - Why It Is Significant To My Thesis
    Mon, Oct. 6 GG 17 Comments

    Summary

    • Goldcorp has just announced its tenth monthly dividend payment for 2014. Once again, the dividend is being maintained at $0.05 per share.
    • Last week I had opined that now is the time to start accumulating Goldcorp shares, specifically highlighting the yield as a key reason to buy for the long term.
    • The present news is bullish because after my article was published there was debate and some strong opinions that the dividend could be cut this month.
  • Update: MeetMe Announces Launch Of Overhauled Mobile App; New Features Will Drive Mobile Chat
    Mon, Oct. 6 MEET 2 Comments

    Summary

    • MeetMehas just announced that it is going to be completely revamping its entire mobile app; this is a key update.
    • I had previously discussed how the company was taking efforts to grow its user base by specifically improving the chat experience which is driving user growth and mobile revenues.
    • The present news is bullish and strengthens my original thesis.
  • Why I Now Recommend Armour Residential REIT
    Sun, Oct. 5 ARR 22 Comments

    Summary

    • Armour Residential REIT has been under extreme selling pressure in the last month.
    • I have avoided this stock for years.
    • The stock has stabilized in 2014.
    • Despite not covering dividends entirely in Q2, the company is maintaining its dividend through 2014 suggesting upcoming earnings will be strong.
    • Read why I recommend this stock for the first time.
  • Update: Javelin Mortgage Announces Dividends - I Told You Not To Panic
    Fri, Oct. 3 JMI 9 Comments

    Summary

    • Javelin Mortgage Investment has just announced its upcoming monthly dividend payments for the next quarter maintaining its $0.15 payout.
    • Last week I urged investors not to panic over the sell-off in JMI shares and felt the dividend would be maintained if the quarter was strong.
    • The present news strengthens my thesis on the company and shares continue to be on a rare sale now yielding 15.05%.
  • Now Is The Time To Accumulate Goldcorp
    Editors' Pick • Thu, Oct. 2 GG 15 Comments

    Summary

    • Gold and silver have been under tremendous pressure for two years in a row and especially of late driving the share price of some gold miners to attractive entry points.
    • Goldcorp continues to improve operational efficiencies, explore and develop new projects and increase production.
    • Paying a 2.6% yield and maintaining profitability, I discuss why now may be the time to start accumulating shares while waiting for a turnaround in precious metal prices.
  • Update: Yamana Announces Record Gold Production - Thesis Impacted
    Thu, Oct. 2 AUY 6 Comments

    Summary

    • Yamana Gold has just announced in a corporate update that it has achieved record production in the third quarter.
    • I previously argued it was trading at a steal because of anticipated production increases into 2014, so this news is welcomed but due in part to acquisitions.
    • The present news is bullish and I think investors should be slowly accumulating shares waiting for an eventual rebound in precious metal prices.
  • Update: Synta Pharmaceuticals Files Insider Buying With SEC, As I Said Carpe Diem
    Wed, Oct. 1 SNTA 11 Comments

    Summary

    • Synta Pharmaceuticals has just filed a form 4 with the Securities Exchange Commission for an insider buy from Bruce Kovner.
    • When I recently opined I talked about how nothing had fundamentally changed with the company; the selloff was an opportunity to buy; I did not foresee a major insider buy.
    • The news is bullish and is a catalyst to plug the bleeding in shares; take advantage of the sale and Carpe Diem.
  • Update: Hecla Mining Increases Stake In Canamex Resources - Impact To The Bull Thesis
    Wed, Oct. 1 HL 13 Comments

    Summary

    • Hecla Mining Company just announced today that it has signed into a subscription agreement pursuant to which it has agreed to acquire 3,095,238 units of Canamex Resources.
    • When I last opined I argued Hecla was taking the right steps for future growth and its stock was in the discount bargain bin: I did not foresee this investment.
    • I like this deal as Hecla is playing smart. It is recognizing that miners are cheap and that the price of metals are being crushed, but will ultimately rebound.
  • Update: Response Genetics Announces Leadership Extension - Impacts To My Thesis
    Wed, Oct. 1 RGDX 3 Comments

    Summary

    • Response announced an SEC filing leadership change which extends the veteran CEO Thomas Bologna's term of his employment agreement to December 31, 2015.
    • Previously I discussed the rapid growth the company is experiencing in its customer reach and highlighted the merits of Mr. Bologna; I didn't predict he would be extended one year.
    • I believe the present news is good for the company and discuss why my bullish thesis on the company is maintained.
  • Apollo Residential Mortgage: An 11.3% Yielder Too Cheap To Ignore
    Wed, Oct. 1 AMTG 3 Comments

    Summary

    • Apollo Residential Mortgage invests in Agency and non-Agency residential mortgage backed securities.
    • I discuss the key metrics of the mREIT.
    • With consecutive dividend hikes and trading at an incredible discount-to-book, shares are on a significant sale.
  • Update: American Capital Agency Announces Major Dividend Change -What It Means For My Thesis
    Wed, Oct. 1 AGNC 22 Comments

    Summary

    • American Capital Agency just announced Tuesday that it is changing its dividend policy.
    • When I last opined I discussed that I thought AGNC would maintain or hike its dividend, citing rising income and improving key metrics; I did not see this change coming.
    • The change will allow for faster compounding and more regular income; it significantly strengthens my bullish stance.