HUYA INC -ADS HUYA
April 23, 2023 - 1:40am EST by
member
| 2023 | 2024 | ||||||
| Price: | 3.19 | EPS | 0 | 0 | |||
| Shares Out. (in M): | 240 | P/E | 0 | 0 | |||
| Market Cap (in $M): | 765 | P/FCF | 0 | 0 | |||
| Net Debt (in $M): | -1,550 | EBIT | 0 | 0 | |||
| TEV (in $M): | 0 | TEV/EBIT | 0 | 0 | |||
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| 143 | |
I don't know the new CFO, but I note that he apparently did some work with NBN in the past - per the 8K "Prior to the appointment of Mr. Cohen as Chief Financial Officer,... login to read the rest | |
| 142 | |
Any thoughts?
https://www.globenewswire.com/news-release/2024/01/24/2816133/0/en/Northeast-Bank-Announces-Appointment-of-Chief-Financial-Officer.html#:~:text=PORTLAND%2C%20Maine%2C%20Jan.%2024,%2C%20effective%20February%201%2C%202024. | |
| 141 | |
...was held today. In Rick's comments about the past year, he noted that earlier in the year NBN had bid on Signature Bank and SVB. While neither deal came to fruition, he noted that NBN's... login to read the rest | |
| 140 | |
...your lips to god's ears, david101.
In addition, I don't recall ever hearing Rick as optimistic about the purchase market opportunities as he was today. We know they have $74M in the book already. And it | |
| 138 | |
https://www.fdic.gov/buying/loan/documents/sigcre-23-sale-announcement.pdf
Rick has this to say re: Signature on 4/25/23
Q: " Got it. Now it's obviously the FDIC has been public with their intent to sell a huge portfolio of loans coming out of Signature Bank over... login to read the rest | |
| 137 | |
David,
You are a treasure of knowledge and judgement.
Thanks
ele | |
| 132 | |
Per this notice from FDIC:
https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/svb-bid-summary.html | |
| 131 | |
https://investor.northeastbank.com/financial-information/fdic
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| 130 | |
To LDMR’s point in comment #128: 57% of 3/31/23 loan book pays off or reprices within 1 year; 68% within three years. This obviously does not account for new loans priced at market.
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| 129 | |
LDMR, Wayne was comparing brokered CD rates. I was just looking at their disclosure in the filing for average rate paid during the quarter on total time deposits / CDs, which probably isn't fair but... login to read the rest | |
| 127 | |
I am with starfox on this. While i too had expected higher EPS for the Q, my estimates were undone by the NIM compression (both sides: deposit costs and lower accretion). We can debate where... login to read the rest | |
| 125 | |
Hi, all --
A few thoughts:
1: Great to have the CEO emphasize that the "concerns of the day" -- ie, funding and rates-driven MTM losses -- just aren't concerns here.
2: Like David, I was a bit... login to read the rest | |
| 123 | |
Reasonable quarter relative to expectations, fantastic relative to valuation. That's my take as the newbie on the board anyway. Some thoughts... please check my math. These notes are my memo to myself on my takeaways.
Positives:
-... login to read the rest | |
| 121 | |
I'm trying to reconcile two statements. The first is one I've heard both here and offline that goes something like:
1) banks can raise functionally infinite deposits by simply beating everyone else's CD rates
Yet despite this,
2)... login to read the rest | |
| 120 | |
Thanks, David. Is there a "rule of thumb" ceiling to the amount of FHLBB funding generally considered appropriate as a percentage of the mix? Or is it considered an equivalently good source of funding as | |
| 117 | |
Hi, Starfox --
I'm here to learn; thanks for helping!
Me:> There are obvious (longer term) credit issues.
Perhaps not well put. I don't expect a sudden and severe deterioration in credit metrics, but see that as the main... login to read the rest | |
| 116 | |
... Bowd, you really boggle the mind. You believe, despite low LTVs and the purchase discount cushion, that they have "obvious" credit issues long term, but you assume funding is magically guaranteed, a month after... login to read the rest | |
| 114 | |
Lot of focus on this board on credit risk but surprisingly little discussion of funding risk, which I actually view as a much bigger issue personally. How are bulls who have a significant position size... login to read the rest | |
| 107 | |
Bowd, I never called you a moron or accused you of misrepresenting your position in the stock. I apologize for not making myself clear. Perhaps I'm a little testy (been a tough week for personal... login to read the rest | |
| 103 | |
Bowd continues to be wrong; LDMR is right. Bowd's position is not only logically flawed (double or triple counting credit losses that are already booked and being reversed quarter by quarter in their accounting), but... login to read the rest | |
| 94 | |
Makes perfect sense - thank you. | |
| 92 | |
ajp - how/why are you assuming that NBN is loaning against properties valued at 8-caps? I haven't seen that sort of disclosure. If you're just doing this based on the yield, a lot of times... login to read the rest | |
| 85 | |
LDMR - happy to connect offline but I think we're not allowed to share names / email addresses on here. I like VIC and don't want to break the rules. I don't see anything that... login to read the rest | |
| 81 | |
Seasoning data is right here - from their investor deck - over $1B of the $1.5B basis in the purchased portfolio (70% of exposure) was originated before 1/1/2019. Have to imagine most of the risk... login to read the rest | |
| 80 | |
Hi, Starfox --
> they are buying these loans at a huge discount. There is a big difference between a loan at 60-70% LTV an a loan at a 40-50% LTV.
As noted below, to my surprise, these... login to read the rest | |
| 79 | |
Bowd,
You're saying a lot of things that sound cautious/thoughtful but don't stand up to scrutiny.
"convince me this isn't a potential zero"
Looking at their recent loan purchases at a weighted 33.5% LTV, please walk me through illustrative... login to read the rest | |
| 78 | |
LDMR - hi again (we seem to cross paths a lot!) I am thinking through similar questions as you.
To play devil's advocate: probably intuitively obvious but I guess the only thing I would say is... login to read the rest | |
| 75 | |
Sorry if this has been covered somewhere else in the comments or thread - has anyone seen any data (or even heard any anecdotes) about how the loan book at Capital Crossing performed during the | |
| 70 | |
Mencken,
Re: Bill Erbey -
There is a lovely story out here in the Hamptons. The authors Peter Matthiessen and Joseph Heller were at a lavish cocktail party where champagne flowed and caviar was abundant. Matthiessen remarked... login to read the rest | |
| 63 | |
starfox,
better said than me. | |