Browsing Pinnacle’s 10-Q

By Geert De Lombaerde Posted on October 30, 2009 at 7:45 am

We had to go pretty deep to find some nuggets of info that weren’t covered in last week’s Q3 earnings release and conference call, but here’s what we found:

- Terry Turner and his crew are still looking to grab market share. They ramped up marketing and business development spending in the quarter to $512,000, a jump of more than a third from a year ago and up 13 percent from their first-half pace.

- A chunk of that cash is going to the trust department, which has grown its assets under management to $607 million from $537 million a year ago.

- Spending on foreclosed real estate fell by almost half during Q3. Is it a sign that the worst has passed or does it mean that Pinnacle, like other lenders, is strategically not foreclosing on troubled properties?

Check out the full filing here.

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Tags: asset management, banking, marketing, Pinnacle Financial Partners Inc.  

Climbing the wall of worry

By Geert De Lombaerde Posted on August 21, 2009 at 7:39 am

BusinessWeek’s Ben Levisohn says there may be something to market strategists’ optimism. Consider this a rebuttal of this post from Wednesday.

[I]n my former life as a trader, I learned that there is no “should” when it comes to how the stock market behaves. Bad news can just as easily spur a round of buying, and good news can precipitate a selloff. Markets rarely perform to a set of preconceived notions.

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Tags: asset management, Ben Levisohn, BusinessWeek, investment, stock valuation  

Why stocks could be in trouble

By Geert De Lombaerde Posted on August 19, 2009 at 9:53 am

David Rosenberg takes issue with the widely accepted argument that equities are poised to soon resume their climb because so many investors haven’t yet committed cash.

Price-to-earnings multiples at five-year highs suggest that valuations are hardly compelling; insider selling and the fact that there has been so much short-covering suggest that the liquidity story is less than meets the eye and the ‘cash mountain on the sidelines’ is being used to pay down debt, not being deployed for risky asset accumulation.

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Tags: asset management, David Rosenberg, debt, Gluskin Sheff + Associates Inc., household debt, investment, stock valuation  

Cutting to the BONY

By Geert De Lombaerde Posted on November 21, 2008 at 11:47 am

The Bank of New York Mellon, which employs about 100 people at a Nashville processing center, said this morning it will cut its payroll 4 percent to make up for the drop in assets it manages. The company is not saying how the local operation will be affected.

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Tags: asset management, banking, layoffs, The Bank of New York Mellon Corp.