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

Jean Sassus ...
  • Martial Descoutures
  • Pierre Corby
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/20/2018

Following the Oddo BHF cognac seminar held in November 2018, we are adopting a cautious view of the cognac market. After a clear acceleration in growth for the past two years, the market seems increasingly risky in the short term and its downturn would have clear repercussions on earnings growth for all spirits groups. Even though cognac is a prized asset for them, in that it guarantees a high valuation for the long term due to its scarcity value and high-end profile, we reiterate our...

Jean Sassus ...
  • Steven Gould

Natixis : Deterioration in the perceived risk (too) heavily punished

>Exceptional loss vs exceptional dividend - Losses on derivatives = -€ 260m, incl. -€ 100m in trading in Q3 and -€ 160m in provisions reflecting future product management costs incriminated. Natixis indicated that these activities were not supposed to contribute significantly to the success of the strategic plan for which the targets have been re-affirmed.Exceptional dividend = € 1.5bn. This is the confirmation of the most likely assumption following the transact...

Jean Sassus ...
  • Martial Descoutures
  • Pierre Corby
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 20/12/2018

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Jean Sassus ...
  • Steven Gould

Natixis : Détérioration du risque perçu (trop) largement sanctionnée

>Perte exceptionnelle vs dividende exceptionnel - Pertes sur les dérivés = -260 M€ dont -100 M€ de pertes de trading au T4 et -160 M€ de provisions reflétant les coûts futurs de gestion des produits incriminés. Natixis précise que ces activités n’étaient pas supposées contribuer significativement à la réussite du Plan Stratégique dont les objectifs sont par ailleurs réaffirmés.Dividende exceptionnel = 1.5 Md€. C’est la confirmation de l’hypothèse la plus probable...

Alex Koagne ...
  • Benoit Valleaux
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Manuel Martin
  • Sven Edelfelt
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/29/2018

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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

Natixis : Deterioration in the perceived risk (too) heavily punished

>Exceptional loss vs exceptional dividend - Losses on derivatives = -€ 260m, incl. -€ 100m in trading in Q3 and -€ 160m in provisions reflecting future product management costs incriminated. Natixis indicated that these activities were not supposed to contribute significantly to the success of the strategic plan for which the targets have been re-affirmed.Exceptional dividend = € 1.5bn. This is the confirmation of the most likely assumption following the transact...

Jean Sassus ...
  • Steven Gould

Natixis : Détérioration du risque perçu (trop) largement sanctionnée

>Perte exceptionnelle vs dividende exceptionnel - Pertes sur les dérivés = -260 M€ dont -100 M€ de pertes de trading au T4 et -160 M€ de provisions reflétant les coûts futurs de gestion des produits incriminés. Natixis précise que ces activités n’étaient pas supposées contribuer significativement à la réussite du Plan Stratégique dont les objectifs sont par ailleurs réaffirmés.Dividende exceptionnel = 1.5 Md€. C’est la confirmation de l’hypothèse la plus probable...

Alex Koagne ...
  • Jean Sassus

Natixis : Feedback from road show with CFO

>Buy recommendation maintained - We were on a road show with the new Natixis CFO Nathalie Bricker. The bulk of the questions focused on the group's external growth strategy, the dividend policy and the fund flows trend in AM. The CFO’s tone seemed to us positive on business development and very clear on its external growth and the dividend policy. We think that Natixis is likely, depending on opportunities, to continue to play a consolidating role in the asset managem...

Alex Koagne ...
  • Jean Sassus

Natixis : Feedback RS avec la CFO

>Opinion Achat maintenue - Nous étions en RS à Paris avec Nathalie Bricker, nouvelle directrice financière de Natixis. L’essentiel des questions portait sur la stratégie de croissance externe, la politique de dividende et l’évolution de la collecte dans l’AM. La tonalité du discours de la CFO nous a semblé positive sur le développement de l’activité et très claire sur la politique de croissance externe et de dividende. Nous estimons que Natixis devrait, en fonction de...

Johann Scholtz

Morningstar | Natixis Has Decent 3Q 2018 Results; No Ingenico Takeover

No-moat Natixis reported net income of EUR 422 million for the third quarter of 2018, 10% ahead of the year-ago period. Revenue increased by 8% for the quarter relative to second-quarter 2017 to EUR 2.4 billion. Costs were well controlled; Natixis' cost/income ratio improved to 68% (69% in second-quarter 2017). This led to a 13% increase in pre-provision profits. The disposal of Natixis' retail banking activities (largely consumer finance) to parent BPCE remains on track. Natixis played down speculation that it is set for a full takeover of payments company Ingenico. We maintain our EUR 5 fair...

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...

Jean Sassus ...
  • Martial Descoutures
  • Pierre Corby
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/20/2018

Following the Oddo BHF cognac seminar held in November 2018, we are adopting a cautious view of the cognac market. After a clear acceleration in growth for the past two years, the market seems increasingly risky in the short term and its downturn would have clear repercussions on earnings growth for all spirits groups. Even though cognac is a prized asset for them, in that it guarantees a high valuation for the long term due to its scarcity value and high-end profile, we reiterate our...

Jean Sassus ...
  • Martial Descoutures
  • Pierre Corby
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 20/12/2018

...

Alex Koagne ...
  • Benoit Valleaux
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Manuel Martin
  • Sven Edelfelt
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/29/2018

...

Alex Koagne ...
  • Benoit Valleaux
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Manuel Martin
  • Sven Edelfelt
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 29/11/2018

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Alex Koagne ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe Chaput
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Hela Zarrouk
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Léopold Authié
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/09/2018

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NATIXIS sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of NATIXIS (FR), a company active in the Money Center Banks industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 21, 2018, the closing price was EUR 6.11 and its potential was estimated at EUR 6.56.

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...

Anaïs Dudout

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...

Anaïs Dudout

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...

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

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.

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.

Valérie GASTALDY

Medium term view - NATIXIS : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €4.553, then €3.735. Passing €6.210 would question the continuation of the fall.

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