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

Charles Pinel

Natixis - Assemblée générale des actionnaires du 28 mai 2019

GOUVERNANCE Le 1er juin 2018, Laurent Mignon a quitté ses fonctions de Directeur Général pour devenir Président du Directoire de BPCE, principal actionnaire de Natixis avec 71% du capital. Il a succédé à François Pérol à la présidence du conseil d'administration de Natixis et François Riahi est devenu le nouveau Directeur Général. Le conseil demeure composé d'une majorité de membres non libres de conflits d'intérêts potentiels, ce qui ne permet pas de soutenir la plupart des nombreux cooptations et renouvellements proposés (résolutions 12 à 22). REMUNERATION En raison des évolutions de gou...

Expert Corporate Governance Service (ECGS)

Natixis - AGM and EGM 28 May 2019

GOVERNANCE  On 1 June  2018, Laurent Mignon left his position as Chief Executive Officer to become Chairman of the Management Board of BPCE, Natixis' main shareholder with 71% of the capital. He succeeded François Pérol as Chairman of the Board of Directors of Natixis and François Riahi became the new Chief Executive Officer.  The Board remains composed of a majority of members who are not free of potential conflicts of interest, which makes it impossible to support most of the many co-optations and renewals proposed (resolutions 12 to 22).  REMUNERATION  Due to changes in governance, in a...

Johann Scholtz

Morningstar | Natixis: Investment Banking Not Asset Management Drives Superior Profitability

All but ruined by the 2008 financial crisis, Natixis is one of Europe's most profitable banks today. Part of its turnaround strategy was to reduce its exposure to increasingly capital-intensive investment banking in favour of asset light insurance, asset management, and payment businesses. The increase in profitability and the perceived lower risk of Natixis has turned it into a darling of the market and one of the more highly rated banks in Europe.We are, however, not fully convinced that Natixis' current superior profitability will withstand a downturn in the cycle. We highlight that half of...

Johann Scholtz

Natixis: Investment Banking Not Asset Management Drives Superior Profitability

No-moat Natixis reported net profit of EUR 764 million for the first quarter of 2019, however, this includes a gain of EUR 586 million on the disposal of Natixis' retail banking operations to its parent, BPCE. Underlying profit of EUR 192 million is 33% lower than the EUR 288 million Natixis achieved in the first quarter of 2018. We maintain our no-moat rating, and we cut our fair value estimate to EUR 4.60 per share from EUR 5.00 previously to reflect our lower growth estimates. Group revenue d...

Johann Scholtz

Morningstar | Natixis' First-Quarter 2019: Risk Appetite on the Wane?

No-moat Natixis reported net profit of EUR 764 million for the first quarter of 2019, however, this includes a gain of EUR 586 million on the disposal of Natixis' retail banking operations to its parent, BPCE. Underlying profit of EUR 192 million is 33% lower than the EUR 288 million Natixis achieved in the first quarter of 2018. We maintain our no-moat rating, and we cut our fair value estimate to EUR 4.60 per share from EUR 5.00 previously to reflect our lower growth estimates. Group revenue declined by 7% year on year. The two largest divisions, asset and wealth management--which contribut...

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 

Johann Scholtz

Morningstar | Natixis: Investment Banking Not Asset Management Drives Superior Profitability

All but ruined by the 2008 financial crisis, Natixis is one of Europe's most profitable banks today. Part of its turnaround strategy was to reduce its exposure to increasingly capital-intensive investment banking in favour of asset light insurance, asset management, and payment businesses. The increase in profitability and the perceived lower risk of Natixis has turned it into a darling of the market and one of the more highly rated banks in Europe.We are, however, not fully convinced that Natixis' current superior profitability will withstand a downturn in the cycle. We highlight that half of...

Johann Scholtz

Natixis: Investment Banking Not Asset Management Drives Superior Profitability

No-moat Natixis reported net profit of EUR 764 million for the first quarter of 2019, however, this includes a gain of EUR 586 million on the disposal of Natixis' retail banking operations to its parent, BPCE. Underlying profit of EUR 192 million is 33% lower than the EUR 288 million Natixis achieved in the first quarter of 2018. We maintain our no-moat rating, and we cut our fair value estimate to EUR 4.60 per share from EUR 5.00 previously to reflect our lower growth estimates. Group revenue d...

Johann Scholtz

Morningstar | Natixis' First-Quarter 2019: Risk Appetite on the Wane?

No-moat Natixis reported net profit of EUR 764 million for the first quarter of 2019, however, this includes a gain of EUR 586 million on the disposal of Natixis' retail banking operations to its parent, BPCE. Underlying profit of EUR 192 million is 33% lower than the EUR 288 million Natixis achieved in the first quarter of 2018. We maintain our no-moat rating, and we cut our fair value estimate to EUR 4.60 per share from EUR 5.00 previously to reflect our lower growth estimates. Group revenue declined by 7% year on year. The two largest divisions, asset and wealth management--which contribut...

Johann Scholtz

Natixis' First-Quarter 2019: Risk Appetite on the Wane?

No-moat Natixis reported net profit of EUR 764 million for the first quarter of 2019, however, this includes a gain of EUR 586 million on the disposal of Natixis' retail banking operations to its parent, BPCE. Underlying profit of EUR 192 million is 33% lower than the EUR 288 million Natixis achieved in the first quarter of 2018. We maintain our no-moat rating, and we cut our fair value estimate to EUR 4.60 per share from EUR 5.00 previously to reflect our lower growth estimates. Group revenue d...

Jean Sassus ...
  • Steven Gould

Natixis : No major impact on the fundamental outlook from Q1 2019 results

>Revisions to consensus forecasts likely to be limited - Besides operating profit that was slightly higher than expected, there are several reasons to expect limited revisions:The AWM arm in the end was close to expectations. Inflows in AM were in line with forecasts. It might not be possible to extrapolate the more favourable market effects, notably after the recent corrections.The weakness in fixed income like the better resilience in equity will only affe...

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...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/10/2019

...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 10/05/2019

...

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. - ...

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...

Charles Pinel

Natixis - Assemblée générale des actionnaires du 28 mai 2019

GOUVERNANCE Le 1er juin 2018, Laurent Mignon a quitté ses fonctions de Directeur Général pour devenir Président du Directoire de BPCE, principal actionnaire de Natixis avec 71% du capital. Il a succédé à François Pérol à la présidence du conseil d'administration de Natixis et François Riahi est devenu le nouveau Directeur Général. Le conseil demeure composé d'une majorité de membres non libres de conflits d'intérêts potentiels, ce qui ne permet pas de soutenir la plupart des nombreux cooptations et renouvellements proposés (résolutions 12 à 22). REMUNERATION En raison des évolutions de gou...

Expert Corporate Governance Service (ECGS)

Natixis - AGM and EGM 28 May 2019

GOVERNANCE  On 1 June  2018, Laurent Mignon left his position as Chief Executive Officer to become Chairman of the Management Board of BPCE, Natixis' main shareholder with 71% of the capital. He succeeded François Pérol as Chairman of the Board of Directors of Natixis and François Riahi became the new Chief Executive Officer.  The Board remains composed of a majority of members who are not free of potential conflicts of interest, which makes it impossible to support most of the many co-optations and renewals proposed (resolutions 12 to 22).  REMUNERATION  Due to changes in governance, in a...

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

EU and UK Financials remain actionable Our outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains positive and we continue to expect higher equity prices going forward. Below we highlight several new developments which give us additional confidence in our outlook, including but not limited to continued price and RS improvements for UK/European Financials. • Actionable Sector: Financials. Today's stock recommendations go beyond UK and European Financials, however these regions are the primary focus due to a plethora of attractive setups. In today's report we reiterate our 3/21...

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.

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