Core Viewpoint - The article compares Canadian Imperial Bank (CM) and DBS Group Holdings Ltd (DBSDY) to determine which is the better undervalued stock option for investors [1]. Group 1: Zacks Rank and Earnings Outlook - Canadian Imperial Bank has a Zacks Rank of 2 (Buy), indicating a more favorable earnings estimate revision activity compared to DBS Group Holdings Ltd, which has a Zacks Rank of 3 (Hold) [3]. - The improving earnings outlook for CM makes it a more attractive option in the Zacks Rank model [7]. Group 2: Valuation Metrics - CM has a forward P/E ratio of 10.58, while DBSDY has a forward P/E of 11.63, suggesting CM is more undervalued [5]. - The PEG ratio for CM is 1.31, compared to DBSDY's PEG ratio of 3.49, indicating CM's expected EPS growth is more favorable [5]. - CM's P/B ratio is 1.42, while DBSDY's P/B ratio is 2, further supporting CM's valuation as more attractive [6]. - Based on these metrics, CM holds a Value grade of B, whereas DBSDY has a Value grade of D [6].

Group 1 - DBS Group is currently facing a dilemma regarding the management of its capital, as its balance sheet is already well-capitalized [1] - A logical solution for the company is to adopt a long-term, buy-and-hold investment strategy, focusing on stocks that can sustainably generate high-quality earnings [1]

Group 1 - The previous analysis on DBS Group Holdings maintained a neutral stance due to an increase in share price [1] - The company has a beneficial long position in its shares, indicating confidence in its future performance [1] Group 2 - The article does not provide specific investment recommendations or advice regarding DBS Group Holdings [2] - It emphasizes that past performance is not indicative of future results, highlighting the inherent uncertainties in investment [2]

Core Viewpoint - DBS Group Holdings Ltd has been upgraded to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Impact - The Zacks rating system highlights the importance of changing earnings estimates in determining near-term stock price movements, making it a valuable tool for investors [2][3]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in stock price movements due to their large transactions [3]. Business Improvement Indicators - The upgrade in rating for DBS Group reflects an improvement in the company's underlying business, which is expected to drive the stock price higher as investors recognize this trend [4]. Earnings Estimate Revisions - For the fiscal year ending December 2025, DBS Group is projected to earn $11.84 per share, representing a 10.3% increase from the previous year [7]. - Over the past three months, the Zacks Consensus Estimate for DBS Group has risen by 3.2%, indicating a positive outlook from analysts [7]. Zacks Rank System Overview - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks which have averaged a +25% annual return since 1988 [6]. - The upgrade of DBS Group to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [9].

Group 1: Industry Overview - Victory Capital Holdings operates within the Financial - Investment Management industry, which consists of 37 stocks and is currently ranked 59. The industry has experienced a growth of +38.6% year-to-date [1] - DBS Group Holdings Ltd (DBSDY) is part of the Banks - Foreign industry, which includes 66 stocks and is currently ranked 74 in the Zacks Industry Rank. This group has seen an average gain of 11% so far this year, indicating that DBSDY is outperforming its peers [5] Group 2: Company Performance - DBS Group Holdings Ltd has achieved a return of 39.1% year-to-date, significantly higher than the average return of 21.6% for Finance companies [7] - The Zacks Consensus Estimate for DBSDY's full-year earnings has increased by 1.5% over the past quarter, reflecting improved analyst sentiment and a stronger earnings outlook [2] - Victory Capital Holdings has also shown strong performance, with a year-to-date return of 93.5% and a consensus EPS estimate increase of 1.1% over the past three months, currently holding a Zacks Rank of 1 (Strong Buy) [5][8] Group 3: Investment Sentiment - The Zacks Rank system, which focuses on earnings estimates and revisions, currently ranks DBS Group Holdings Ltd at 2 (Buy), suggesting a positive outlook for the stock [4] - Both DBS Group Holdings Ltd and Victory Capital Holdings are highlighted as stocks to watch for investors interested in the Finance sector due to their solid performance [9]

Core Insights - DBS Group Holdings maintains a strong capital position despite increased regulatory scrutiny following an online banking system outage [1] Group 1: Company Overview - DBS Group Holdings is recognized for its robust capital position, which has been sustained even during challenging regulatory environments [1] Group 2: Management and Strategy - The management of DBS Group has shown resilience and capability in navigating regulatory challenges while maintaining capital strength [1]

星展证券（中国）40%股权8.23亿元底价成交 星展集团CEO此前称有意接手 财联社11月25日电，上海 联合产权交易所最新信息显示，星展证券（中国）有限公司两笔股权转让项目已于11月21日成交，转让 比例合计为40%，交易价格即转让底价8.23亿元。 此前，在9月25日星展集团新闻发布会上，星展集团首席执行官高博德曾表示："我们有意将星展证券的 持股比例从51%提升至91%，这一步骤目前正等待相关监管部门的批准。 "（财联社记者 郭子硕） ...

Group 1 - Many foreign bank stocks did not experience the same positive reaction from last week's election as U.S. bank stocks did [1] - DBS Group Holdings Ltd from Singapore is noted as an exception to this trend, although the reasons are likely unrelated to the election [1] Group 2 - The investment approach favored is a long-term, buy-and-hold strategy, focusing on stocks that can sustainably generate high-quality earnings [1]

Financial Data and Key Metrics Changes - The company is planning to return an additional $3 billion to $5 billion in capital to shareholders, with a total buyback capacity of a couple of billion dollars before facing challenges from Temasek's shareholding [3][4][7] - The company reported a loan growth of approximately 2% for the year, with expectations to reach 3% to 5% next year, driven by a healthy pipeline across various sectors [17][18] Business Line Data and Key Metrics Changes - The company has seen a strong recovery in the wealth management segment, with investment assets under management (AUM) reaching a record 56%, indicating growth potential in this area [54][55] - The corporate banking segment has performed well, particularly in India, which has been identified as a strong growth market [44] Market Data and Key Metrics Changes - The company is experiencing increased demand in sectors such as renewables, infrastructure, and technology, with a notable return of leverage buyouts and organic growth in Asia [18][31] - The connectivity growth story is highlighted by a 30% increase in trade growth, particularly in the ASEAN region, driven by intra-regional trade [31][66] Company Strategy and Development Direction - The company aims to continue focusing on high-return businesses, including wealth management and FICC (fixed income, currencies, and commodities), while leveraging technology and digital transformation for productivity gains [32][30] - The management is open to exploring M&A opportunities in markets like Malaysia and Indonesia, contingent on favorable pricing and integration capabilities [33][60] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious but optimistic outlook, noting that while the current earnings capacity is elevated, future growth will depend on interest rate movements and economic conditions [10][12] - The company has conducted stress tests on various macroeconomic factors, including tariffs and oil prices, indicating preparedness for potential regulatory changes [68][69] Other Important Information - The company has maintained a general provision (GP) of $2.3 billion, with a focus on macroeconomic variables and downside scenarios influencing its assessment [48][50] - The tax rate in Singapore is expected to increase to a minimum of 15%, which will impact the company's tax expenses by approximately $400 million next year [21] Q&A Session Summary Question: On share buybacks and Temasek's shareholding - Management indicated that buybacks will be executed on weakness, with a focus on maintaining flexibility regarding Temasek's shareholding levels [3][7] Question: On asset-liability management (ALM) and loan growth - The company is managing its ALM effectively, with a focus on yield pickup and maintaining a healthy loan growth pipeline across various sectors [9][17] Question: On wealth management performance and investment ratios - The wealth management segment has seen significant growth, with a focus on increasing investment ratios and onboarding new clients [54][55] Question: On connectivity and stress testing for tariffs - Management has conducted stress tests on various macroeconomic factors and is well-positioned to assist clients in navigating regulatory changes [68][69]

Core Viewpoint - DBS Group Holdings Ltd has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in stock price movements [4]. Recent Performance and Projections - DBS Group is projected to earn $11.88 per share for the fiscal year ending December 2024, reflecting a year-over-year increase of 10.7% [8]. - Over the past three months, the Zacks Consensus Estimate for DBS Group has risen by 12.4%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of DBS Group to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].