Natixis is a player in the European banking industry. As the banking partner of large companies in France, Co. also plays an active role in serving financial institutions (banks, insurance companies, pension funds, etc.). Co.'s activities are divided into in three main business lines: Wholesale Banking, Investment Solutions (Asset Management, Private Banking, Insurance, and Private Equity) and Specialized Financial Services. Co. operates in four geographical regions: France; other EU countries; North America (Canada, USA); and other OECD countries. As of Dec. 31 2013 Co.'s total assets totaled Euro510,131,000,000.
  • TickerKN
  • ISINFR0000120685
  • ExchangeEuronext Paris
  • SectorBanks
  • CountryFrance

Analysts

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 has been the case over the last several weeks, a major focus of ours within global equities (ex-U.S.) h...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/08/2019

An objective examination of the growth drivers of indices (macroeconomic growth expectations, EPS momentum, monetary conditions and the cost of capital) leads us to believe that the momentum observed since the start of the year cannot be maintained in the short term. In short, the market (Stoxx 600) is ahead of its transition times and should enter a fluctuation band that we estimate at between 355 and 384 points. Consequently, the most rational attitude consists in a total or partial...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/03/2019

Un examen objectif des moteurs de progression des indices (anticipations de croissance macroéconomique, dynamique des BPA, évolution des conditions monétaires et coût du capital) nous amène à penser que la dynamique observée depuis le début de l’année ne peut se maintenir à court terme. Bref, le marché (Stoxx 600) est en avance sur ses temps de passage et devrait entrer dans une bande de fluctuation que nous estimons comprise entre 355 et 384 points. En conséquence, l’attitude la plus...

Jean Sassus ...
  • Steven Gould

ODDO : The ECB helps those who help themselves - or does it?

>Normalisation of rates: the banks will have to wait… for longer - The ECB is now ruling out a normalisation of deposit rates by end-2019. What is more, Mr Draghi seems to be making this conditional on the inflation target. This might spark fears of a prolonged status quo since the ECB forecasts inflation of 1.5-1.6% in 2020-2021. Mr Draghi did not mention any measures intended to mitigate the impact of the negative rates on the sector. The cost for the entire sector ...

Jean-Christophe Dourret

Natixis : Natixis - 31 May 2018

...

Jean-Christophe Dourret

Natixis : Natixis - 31 mai 2018

...

Natixis: Semiannual Update

FINANCIAL INSTITUTIONS CREDIT OPINION 28 April 2017 Update RATINGS Natixis Domicile Paris, France Long Term Debt A2 Type Senior Unsecured - Fgn Curr Outlook Stable Long Term Deposit A2 Type LT Bank Deposits - Fgn Curr Outlook Stable Please see the 

Jean Sassus ...
  • Steven Gould

ODDO : The ECB helps those who help themselves - or does it?

>Normalisation of rates: the banks will have to wait… for longer - The ECB is now ruling out a normalisation of deposit rates by end-2019. What is more, Mr Draghi seems to be making this conditional on the inflation target. This might spark fears of a prolonged status quo since the ECB forecasts inflation of 1.5-1.6% in 2020-2021. Mr Draghi did not mention any measures intended to mitigate the impact of the negative rates on the sector. The cost for the entire sector ...

Jean Sassus ...
  • Steven Gould

ODDO : Aide-toi, la BCE t’aidera… ou pas

>Normalisation des taux : les banques attendront… encore - La BCE exclut dorénavant une normalisation des taux de dépôts d’ici fin 2019. De plus Mr Draghi semble la conditionner à l’objectif d’inflation. Cela peut faire craindre un statu quo prolongé puisque la BCE table sur une inflation de 1.5% à 1.6% en 2020-2021. Mr Draghi n’a pas évoqué de mesures destinées à mitiger l’impact des taux négatifs pour le secteur. Le coût pour l’ensemble du secteur serait d’environ 7...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/18/2019

With unanswered questions accumulating every day on the theme of Brexit, one thing seems certain: the market, without having fallen into blissful optimism, is far from having priced in a hard Brexit. Recent history (the 2016 referendum) shows that the immediate shock in the event of an unanticipated disorderly exit would be around 11% on the eurozone indices. The European political discount indicates a relative, in euros, drop of 7% vs the US. The impact on the markets would not be un...

Jean Sassus ...
  • Steven Gould

Natixis : Answers to questions should trigger a revaluation

>"Contained" accident on derivatives - The road show with the CEO helped to clarify the limits and the implications of the accident on Korean auto-calls:This was product specific and in a highly specific market context. The audit on the rest of the bank’s activities revealed no similar situations.The acknowledged deficiencies in control and the models are being corrected.The loss of revenue resulting from the stoppage of these activities should not exce...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 18/02/2019

Si les questions sans réponse s’accumulent chaque jour sur la thématique du Brexit, une chose semble certaine : le marché, sans avoir versé dans l’optimisme béat, est loin d’avoir pricé un « hard Brexit ». Par référence historique (référendum 2016), le choc instantané dans le cas d’une sortie désordonnée non anticipée, est de l’ordre de 11 % sur les indices de la zone euro. La décote politique européenne milite pour un décrochage relatif en euro de 7% vs Etats-Unis. Tous les marchés n...

1 director sold

A director at Natixis sold 32,292 shares at 5.127EUR and the significance rating of the trade was 63/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/08/2019

An objective examination of the growth drivers of indices (macroeconomic growth expectations, EPS momentum, monetary conditions and the cost of capital) leads us to believe that the momentum observed since the start of the year cannot be maintained in the short term. In short, the market (Stoxx 600) is ahead of its transition times and should enter a fluctuation band that we estimate at between 355 and 384 points. Consequently, the most rational attitude consists in a total or partial...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/03/2019

Un examen objectif des moteurs de progression des indices (anticipations de croissance macroéconomique, dynamique des BPA, évolution des conditions monétaires et coût du capital) nous amène à penser que la dynamique observée depuis le début de l’année ne peut se maintenir à court terme. Bref, le marché (Stoxx 600) est en avance sur ses temps de passage et devrait entrer dans une bande de fluctuation que nous estimons comprise entre 355 et 384 points. En conséquence, l’attitude la plus...

Anis Zgaya ...
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Corby
  • Roland Pfaender
  • Samantha Jeary
  • Steven Gould
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/13/2019

We are initiating coverage on HOCHTIEF on Neutral, with a target price of € 152. We are attracted by the combination of yield and growth as well as by management’s track record, but we believe that other companies within our coverage (Eiffage, VINCI) today offer equally attractive and more sustainable levels of FCF yield and return. - ...

Anis Zgaya ...
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Corby
  • Roland Pfaender
  • Samantha Jeary
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 13/02/2019

Nous initions HOCHTIEF à Neutre, avec un objectif de cours de 152 €. Nous sommes séduits par la combinaison rendement-croissance ainsi que par le track record du management mais nous estimons que d’autres valeurs au sein de notre univers de couverture (Eiffage, VINCI) offrent aujourd’hui des niveaux de FCF yield et de rendement aussi intéressants et plus pérennes. Cf étude publiée hier soir. - ...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Laurence Hofmann
  • Olfa Taamallah
  • Stephane Houri
  • Steven Gould
  • Veysel Taze
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/21/2019

...

Thanks to a better fundamental star rating, NATIXIS sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to NATIXIS (FR), active in the Money Center Banks industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date March 1, 2019, the closing price was EUR 4.83 and its expected value was estimated at EUR 4.46.

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 each recommendation and reflect the fundamental and price data as of the last trading day of the week...

MarketLine Department

Societe Generale S.A. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Societe Generale S.A. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Societe Generale S.A. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advanta...

Natixis - Assemblée générale des actionnaires du 28 mai 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

Natixis – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Proxy Report - 23/05/2018

Item 3: We alerted shareholders on several occasions regarding the excessive amount of dividends, which appear to be motivated by BPCE’s attempt to extract profits in its capacity as major shareholder as opposed to actual capital levels at Natixis itself. Item 5 and 7:  We have no concerns about the remuneration of the Chairman of the board, who receives his entire compensation directly from BPCE, and not from Natixis.  Items 6 and 8:  With slightly excessive quantum, a lack of transparency makes it difficult to assess the alignment between performance and remuneration for the CEO, Laurent Mig...

Proxy Report - 23/05/2018

 La société soumet au vote de ses actionnaires les politiques de rémunération du Président du conseil et du Directeur général pour l'exercice à venir (vote Sapin 2 « contraignant ») en complément du vote également contraignant sur l'exercice passé. Si nous n'avons pas d'observations à faire sur la non-rémunération directe de François Pérol par Natixis qui permet d'approuver les résolutions 5 et 7, il n'en est pas de même avec la rémunération de Laurent Mignon. Bien que les montants soient tout à fait raisonnables, elle souffre d'un manque de transparence avec notamment l'absence de publication...

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 has been the case over the last several weeks, a major focus of ours within global equities (ex-U.S.) h...

Matthieu DRIOL

Analyse court terme - NATIXIS : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 4,758 €. La tendance de fond serait remise en cause en cas de franchissement de 6,148 €.

Matthieu DRIOL

Short term view - NATIXIS : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €4.758. The background trend would be questioned should prices rise above €6.148.

Matthieu DRIOL

Analyse court terme - NATIXIS : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 4,758 €, puis 4,535 €. Le franchissement de 6,148 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - NATIXIS : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €4.758, then €4.535. Passing €6.148 would question the continuation of the fall.

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