Ebrahim Poonawala

Recent meetings with KeyCorp’s (NYSE: KEY) CEO Chris Gorman and CFO Don Kimble highlighted the company’s significant and differentiated growth potential, according to BofA Securities. The KeyCorp Analyst: Ebrahim Poonawala upgraded the rating for KeyCorp from...

Big bank earnings season kicks off next week, and one Wall Street analyst took the opportunity on Friday to raise his price targets for some big bank stocks ahead of next week’s headlines. The Analyst: Among his price target changes, Bank of America analyst Ebrahim Poonawala made the...

Wells Fargo & Co (NYSE: WFC) wowed Wall Street with a big second-quarter earnings beat, but Bank of America analyst Ebrahim Poonawala said this week’s Wells Fargo rally may be just getting started. Impressive Guidance: As impressive as Wells Fargo’s second-quarter numbers were,...

Big U.S. banks got a vote of confidence from the Federal Reserve on Thursday when all 23 banks subject to the Fed’s annual stress test passed with flying colors. What Happened? The Fed said all the banks it tested would maintain capital levels “well above” the minimum...

Canadian Banks are witnessing an improving macroeconomic backdrop, according to BofA Securities. The Canadian Banks Analyst: Ebrahim Poonawala upgraded Bank of Montreal (NYSE: BMO) from Underperform to Neutral with an unchanged price target of CA$88 ($66.18).  In a separate note,...

The Federal Reserve took aggressive action this month in the wake of the coronavirus outbreak by cutting interest rates by 0.5%, the largest rate cut since 2008. The latest rate cut also represented the fourth consecutive interest rate cut by the Fed. Throughout history, every single time the Fed...

Texas Capital Bancshares Inc (NASDAQ: TCBI) this week announced a merger with its smaller Texas-based peer Independent Bank Group Inc (NASDAQ: IBTX). While the announcement was not surprising, the merger pricing is highly disappointing, according to Bank of America. The Analyst BofA’s Ebrahim...

Bank of America analysts turned bullish on Canadian-based Bank of Nova Scotia (NYSE: BNS) after investor meetings with CEO Brian Porter and SVP Investor Relations Phil Smith. The Analyst Bank of America analyst Ebrahim Poonawala upgraded Bank of Nova Scotia's TSX-listed stock from Neutral to...

The proposed combination of BB&T Corporation (NYSE: BBT) with SunTrust Banks, Inc. (NYSE: STI) could create the sixth-largest U.S. retail bank and mark the largest merger in the sector since the financial crisis. Here's how some of the Street's top analysts reacted to Thursday's...

First Bancorp (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, is a buy ahead of an economic "jolt" — as the island's decade-long recession could be coming to an end, according to Bank of America Merrill Lynch.  The Analyst Analyst Ebrahim Poonawala upgraded...

The bullish case for TCF Financial Corporation (NYSE: TCF), a regional Minnesota-based bank holding company with branches in seven states, can now be made, according to Bank of America Merrill Lynch.  The Analyst BofA's Ebrahim Poonawala upgraded TCF Financial from Underperform to Buy...

First Hawaiian Inc (NASDAQ: FHB)'s potential to return substantial capital to shareholders  The Analyst Bank Of America Merrill Lynch's Ebrahim Poonawala upgraded First Hawaiian from Neutral To Buy and increased the price target from $34 to $35. The Thesis BofA has more confidence...

Bank of America analyst Ebrahim Poonawala recently took an in-depth look at potential buyout targets in the banking space. Bank of America’s M&A Scorecard ranks potential buyout targets based on thirteen different criteria, including social factors, bud triggers and sell triggers....