27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
With big banks having cleared the decks, regional bank earnings pick up steam in the coming days. Baird said despite the space seeing some profit-taking, it remains opportunistic with bank exposure.
The Analyst
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Analyst David George upgraded M&T Bank Corporation (NYSE:MTB) from Underperform to Neutral.
The Thesis
M&T Bank shares have lost about 10 percent over the past month despite the bank's solid Q1 2018 results and outlook, George said in a Wednesday note. The bank's core earnings of $2.78 per share exceeded expectations, while it forecast a 5-8 basis-point NIM expansion with each 25 basis-point hike in Fed rates, the analyst noted.
The analyst also sees a pick up in C&I and CRE loan growth and continuation of positive operating leverage.
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"We think it is less likely forward P/E multiples for MTB or other asset-sensitive regionals reach the mid-teens now that the higher-rate catalyst has played out to some degree with benefits from several more rate hikes mostly baked into consensus estimates," the analyst said.
That said, Baird believes shares of M&T Bank deserve a premium valuation, citing its solid track record of capital allocation, risk management and superior returns.
Price Action
At time of writing, shares were up about 1 percent at $178.71.
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27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.