Opinion on  National City Corp. (NCC)     Sector: Financial  >  Industry: Regional Banks
National City Corp.

National City Corporation, a financial holding company, provides commercial and retail banking, mortgage financing and servicing, consumer finance, and asset management services in the United States. Its retail banking services include deposit gathering and direct lending services, business banking services, education finance, retail brokerage, and lending-related insurance services to consumers and small businesses. The company’s consumer lending products include home equity, student loans, and credit cards and other unsecured personal and small business lines of credit. National City’s commercial banking products and services include lines of credit, term loans, leases, investment real estate lending, asset-based lending, treasury management, stock transfer, international services, and dealer floorplan financing to large- and medium-sized corporations. The company also offers loan sales and securitization, structured finance, syndicated lending, commercial leasing, equity and mezzanine capital, derivatives, public finance, investment banking, correspondent banking, multifamily real estate lending, and commercial real estate lending to select customers in certain industries or distribution channels. Its mortgage banking activities comprise originating residential mortgage, home equity lines, and loans collateralized by one-to-four-family residential real estate, as well as servicing mortgage loans, home equity loans, and home equity lines of credit for third-party investors. National City’s asset management services include investment management, custody, retirement planning services, and other corporate trust services to institutional clients; and personal wealth management services for individuals and families. As of December 31, 2007, it operated approximately 1,400 branch banking offices in Ohio, Florida, Illinois, Indiana, Kentucky, Michigan, Missouri, Pennsylvania, and Wisconsin. The company was founded in 1845 and is headquartered in Cleveland, Ohio.

What The Brokers Say

Trades for 11-Jun-2008

Time	Volume / Share Price
16:38	694 @ $4.34
16:29	220 @ $4.34
16:24	220 @ $4.34
16:12	684 @ $4.34
16:06	14,000 @ $4.34

Income & Efficiency

	Latest	F'cast
Div Yield	36.9%	5.8%
Div Cover	0.3	5.0
Op Mrgn	5.3%	-15.4%
ROCE	0.9%

Valuation

<th class="dataRegularHeader" style="text-align: left;" width="40%">   </th> <th class="dataRegularHeaderR" width="30%"> Latest </th> <th class="dataRegularHeaderR" width="30%"> F'cast </th>

P/E	8.5	n/a
PEG	n/a	n/a
Pr/Revenue	0.4	0.4
Pr/Book	0.2

Growth

<th class="dataRegularHeader" style="text-align: left;" width="40%">   </th> <th class="dataRegularHeaderR" width="30%"> Latest </th> <th class="dataRegularHeaderR" width="30%"> F'cast </th>

Revenue	-18.8%	2.7%
PBT	-89.2%	n/a
EPS	-86.5%	n/a
DPS	5.3%	-83.9%

Natl City Cp Fundamentals

<th scope="col" class="dataRegularHeader" width="16%"> Year Ending </th> <th scope="col" class="dataRegularHeaderR" width="14%"> Revenue ($m) </th> <th scope="col" class="dataRegularHeaderR" width="15%"> Pre-tax ($m) </th> <th scope="col" class="dataRegularHeaderR" width="10%"> EPS </th> <th scope="col" class="dataRegularHeaderR" width="8%"> P/E </th> <th scope="col" class="dataRegularHeaderR" width="7%"> PEG </th> <th scope="col" class="dataRegularHeaderR" width="10%"> EPS Grth. </th> <th scope="col" class="dataRegularHeaderR" width="10%"> Div </th> <th scope="col" class="dataRegularHeaderR" width="10%"> Yield </th>

31-Dec-03	7,964.01	3,237.47	346.00¢	9.8	0.2	+46%	125.00¢	3.7%
31-Dec-04	8,872.85	4,077.94	437.00¢	8.6	0.3	+26%	134.00¢	3.6%
31-Dec-05	8,000.07	2,961.16	313.00¢	10.7	n/a	-28%	144.00¢	4.3%
31-Dec-06	8,622.57	3,422.64	377.00¢	9.7	0.5	+20%	152.00¢	4.2%
31-Dec-07	7,001.89	370.68	51.00¢	32.3	n/a	-86%	160.00¢	9.7%

Natl City Cp Forecasts

<th scope="col" class="dataRegularHeader" width="16%"> Year Ending </th> <th scope="col" class="dataRegularHeaderR" width="14%"> Revenue ($m) </th> <th scope="col" class="dataRegularHeaderR" width="15%"> Pre-tax ($m) </th> <th scope="col" class="dataRegularHeaderR" width="10%"> EPS </th> <th scope="col" class="dataRegularHeaderR" width="8%"> P/E </th> <th scope="col" class="dataRegularHeaderR" width="7%"> PEG </th> <th scope="col" class="dataRegularHeaderR" width="10%"> EPS Grth. </th> <th scope="col" class="dataRegularHeaderR" width="10%"> Div </th> <th scope="col" class="dataRegularHeaderR" width="10%"> Yield </th>

31-Dec-08	7,190.27	(1,104.97)	(61.21)¢	n/a	n/a	n/a	25.80¢	5.8%
31-Dec-09	7,308.36	689.61	30.28¢	15.3	n/a	n/a	6.02¢	1.3%