We believe companies with moats from switching costs and intangible assets are less vulnerable.
Financial transactions are the most obvious application, but there are other opportunities as well.
The technology has plenty of potential, but there are still obstacles to world domination.
Though we think the wide-moat bank's competitive advantages are intact, further changes may be needed to catalyze a comeback in the eyes of investors.
The narrow-moat firm's purchase of iZettle is reasonably priced, and we like that Paypal is funding the deal with its richly priced stock.
The wide-moat firm's high growth and minimal reinvestment are alluring, but shares are rich.
The primary financial impact of the recently announced $1 billion penalty will come from reputational damage, as negative headlines still dog the bank's brand.
Despite headwinds, the wide-moat firm is continuing to grow thanks to a strong economy.
We are raising our fair value estimate for the narrow-moat firm.
We're not changing our fair value estimate for the narrow-moat firm.
Regulators are still eyeing the firm for now, but longer-term capital return prospects look bright.
A strong economy has led to strong early results from banks, and we see value in Wells Fargo.
With the bank firing on all cylinders, we're raising our growth expectations and fair value estimate.
The price paid reflects optimism that Verifone will become a best-in-class solutions provider rather than the harsh realities of the payments hardware business.
The banks set to benefit the most from higher rates are quite pricey today, but we do see credit card issuers Capital One and American Express as undervalued.
Reports of talks between the two moaty firms illustrates the growing roles of technology and scale in the financial services industry.
As bitcoin grabs the headlines, blockchain technology is just getting started.
Competitive pressures remain a concern for the wide-moat company.
We're raising our fair value estimate on the company, incorporating the long-term benefits of lower tax rates and higher growth estimates.
We're maintaining our $74 fair value estimate for the firm.
Mixed results demonstrate the upside and downside of diversification for the firm, but were consistent with our expectations.
The fact that customers are sticking with the company is encouraging, but the lack of effective growth shows the bank is still suffering from the sales scandal.
The central bank sees strength in the employment market and continued growth in household spending and business investment.
Rates are set to rise this week, but how fast they increase next year under a new Fed chair will depend on if inflation moves back toward 2%.
We agree with the Federal Reserve’s cautious approach given the state of the economy.
Promising developments brighten our outlook.
Rising interest rates and solid expense management helped the bank in the third quarter.
Third-quarter earnings underscored the trouble Wells Fargo is facing and how well Bank of America is doing, says Morningstar's Jim Sinegal.
The bank’s third-quarter was a bit of a setback, but we think the firm can still revive revenue growth.
Both banks reported decent results, but we don’t see value in the shares today.
With over $6.3 billion in buybacks and dividends in the third-quarter, return of capital remained the key focus for the bank.
The bank is seeing the benefit of a growing economy and rising rates, but shares are fully valued.
In testimony before the Senate, Tim Sloan didn't clearly address whether management changes to date have been sufficient to overhaul Wells Fargo's corporate culture.
We think bank stock prices are priced in to higher interest rates, with Wells Fargo offering a better value.
Competitors' weaknesses allow the firm to maintain a strong position.
The overpriced company is not the only fintech firm targeting the lending space, and the banking industry is already extremely competitive.
We expect the bank to repair its tarnished reputation given enough time, and the stock remains attractive relative to our fair value estimate--especially with a current dividend yield around 3%.
Her commentary threw cold water on any ideas for a return to the laissez-faire approach of the early 2000s.
We are maintaining our $88 per share fair value estimate for the wide-moat firm.
We are maintaining our per share fair value estimate of the narrow-moat firm.
As earnings seasons begins, bank results are starting to see the upside of a higher rate environment.
A combination of scale, scope, and solid execution justifies a premium valuation for JPMorgan Chase.
Negative headlines didn’t stop the bank from growing deposits and maintaining pricing discipline over the last year.
Wide-moat Wells is one of the best dividend values today, with a commitment to returning capital and undervalued shares.
Wells Fargo and Citigroup are recovering from their struggles, but we think there's room for caution.
It's recapitalized and refocused under new management: the perfect conditions for a turnaround.
The wide-moat company continues as a growth juggernaut in the financial-services industry.
Bank of America is clearly making progress, but we are not reading too much into an exceptionally strong quarter, writes Morningstar’s Jim Sinegal.
Wells had only acceptable results in the first-quarter but signs of stabilization reinforce our view that recent troubles will not have long-lasting effects on growth and profitability.
The banking giant had a solid quarter and a positive outlook, but the optimism is already priced into the shares.