(USB) U.S. Bancorp Reports Fourth Quarter 2010 Earnings In line With Estimates
U.S. Bancorp (USB) reported fourth quarter 2010 earnings attributable to common shareholders of $974 million or 49 cents per share. However, excluding significant items, earnings came in at 46 cents...
View Article(NTRS) Northern Trust Fourth Quarter Earnings Report Lags Estimates
Northern Trust Corporation’s (NTRS) fourth quarter earnings of 64 cents per share were below the Zacks Consensus Estimate of 71 cents per share. The decrease was attributable to low interest rate...
View Article(NTRS) Northern Trust Corporation Buys Bank of Ireland Securities Services
Last week, Northern Trust Corporation (NTRS) announced the acquisition of Bank of Ireland Securities Services (BOISS) for $82 million (€60 million). BOISS, the fund administration unit of Bank of...
View Article(USB) U.S. Bancorp Analyst Maintains Shares At Neutral
We are reiterating our Neutral recommendation on the shares of U.S. Bancorp (USB) following the company’s fourth quarter and full year earnings release as well as its recent acquisitions. Our analysis...
View Article(USB) U.S. Bancorp Announces Increased Dividend – Plans Share Buyback
On Friday,U.S. Bancorp’s (USB) board of directors approved an increase of 150% in the dividend rateon its common stock. On an annual basis, the dividend comes to 50 cents per share, or 12.5 cents per...
View Article(FITB) Fifth Third Bancorp Announces Higher Dividend
Fifth Third Bancorp’s (FITB) board of directors increased the cash dividend to 6 cents per share on its common stock. First quarter 2011 cash dividend of 6 cents represents an increase of 5 cents from...
View Article(NTRS) Northern Trust Analyst Downgrades Shares To Underperform
We have downgraded our recommendation on Northern Trust Corporation (NTRS) to Underperform from Neutral, as the current operating environment is putting pressure on earnings. Though we expect the...
View Article(USB) U.S.Bancorp 2011 First Quarter Earnings Preview
U.S.Bancorp (USB) is scheduled to report its first quarter 2011 earnings results before market opens on April 19. The Zacks Consensus Estimate for the first quarter is earnings of 49 cents per share,...
View Article(CMA) Comerica Quarterly Numbers Outpace Estimates
Comerica Incorporated (CMA) reported first quarter 2011 net income of 57 cents per share, beating the Zacks Consensus Estimate of 48 cents and improving from the prior-quarter figure of 53 cents....
View Article(USB) U.S. Bancorp Quarterly Report Beats – Provision for Credit Losses Declined
U.S. Bancorp (USB) has topped the Zacks Consensus Estimate. The company reported first quarter 2011 earnings attributable to common shareholders of $1,003 million or 52 cents per share, ahead of the...
View Article(NTRS) Northern Trust Earnings Report Estimates
Northern Trust Corporation’s (NTRS) first-quarter 2011 earnings of 59 cents per share were below the Zacks Consensus Estimate of 65 cents per share. The decrease was attributable to a persistently low...
View Article(MI) Marshall & Ilsley Reports High Loss
Marshall & Ilsley Corporation’s (MI) first quarter 2011 loss of 27 cents per share exceeded the Zacks Consensus Estimated loss of 18 cents but was in line with the prior-year quarter result....
View Article(NTRS) Northern Trust Analyst Upgrades Shares to Neutral
We have upgraded our recommendation on Northern Trust Corporation (NTRS) to Neutral from Underperform attributed to synergies expected from the recent acquisitions. In April, Northern Trust reported...
View Article(USB) U.S. Trade Deficit Up on Foreign Oil Addiction
The Trade Deficit rose in March to $48.18 billion from $45.44 billion in January (revised down from $45.76 billion. The rise in the trade deficit is bad news for the economy, and the level is very...
View Article(FITB) Fifth Third Bancorp Redeems 8.875% Trust Preferred Securities
On Wednesday, Fifth Third Bancorp (FITB) announced that according to a notice issued by the company to the trustee of Fifth Third Capital Trust VII on May 16, 2011, the 8.875% trust preferred...
View Article(NTRS) Northern Trust Looks To Be On An Acquisition Spree
Northern Trust Corporation (NTRS) is on an acquisition spree. The latest acquisition that the company has agreed to is that of Omnium LLC, a leading hedge fund administrator, from Citadel. The...
View Article(NTRS) Northern Trust Acquires BoISS
On Wednesday, Northern Trust Corporation (NTRS) announced the completion of its acquisition of Bank of Ireland Securities Services (BoISS) from Bank of Ireland Group for €60 million ($82 million). In...
View Article(MI) Marshall & Ilsley Corporation and Bank of Montreal Merger Gets...
Marshall & Ilsley Corporation (MI) and Bank of Montreal (BMO) merger deal is right on track for completion, following the final regulatory approval on Tuesday. With this regulatory nod, the parties...
View Article(HBAN) Huntington Bancshares Upgraded
We have upgraded our recommendation on Huntington Bancshares Inc. (HBAN) to Neutral from Underperform on the back of fundamentals, better-than-expected first quarter 2011 results, current economic...
View Article(NTRS) Northern Trust Analyst Stays Neutral on Shares
We are maintaining our Neutral recommendation on Northern Trust Corporation (NTRS) based on favorable acquisition spree and global expansions of the company. In May 2011, Northern Trust agreed to...
View Article(FITB) Fifth Third Bancorp Analyst Stays Neutral
We have reiterated our Neutral recommendation on Fifth Third Bancorp (FITB) following a detailed analysis of the company’s fundamentals, strengths and weaknesses in the context of the current economic...
View Article(MI) Bank of Montreal Completes Marshall & Ilsley Acquisition
The acquisition of Marshall & Ilsley Corporation (MI) by Bank of Montreal (BMO) finally drew to a close on Tuesday, following BMO’s repayment of $1.715 billion of Troubled Asset Relief Program...
View Article(NTRS) Northern Trust Acquires Omnium
Last Friday, Northern Trust Corporation (NTRS) completed the acquisition of Omnium LLC, a leading hedge fund administrator, from Citadel. The acquisition of Omnium, which has around $70 billion in...
View Article(USB) U.S. Bancorp Acquires BankEast
U.S. Bancorp (USB) is focused on expanding its business through acquisitions. The company’s lead bank, U.S. Bank National Association, acquired the banking operations of BankEast, a subsidiary of...
View Article(USB) U.S. Bank Failures Hit 7 So Far in 2012
Last Friday, four more banks were shuttered by U.S. regulators. The failed banks were based in Florida, Tennessee and Minnesota. This brings the total number of bank failures to 7 so far in 2012,...
View Article(USB) U.S. Bancorp to Buy Trust Business
U.S. Bancorp (USB) is making a strategic acquisition for its institutional trust and custody division. The company through its lead bank, U.S. Bank National Association, has entered into a definitive...
View Article(FITB) Fifth Third Bancorp Offers Senior Notes
Last Friday, Fifth Third Bancorp (FITB) announced the public offering of its senior notes worth $500 million. The 10-year senior notes bear a coupon rate of 3.5% and were sold at 99.306% of the...
View Article(USB) U.S. Bancorp – Bull of the Day
We are upgrading our recommendation on U.S. Bancorp (USB) to Outperform from Neutral based on its solid fundamentals in the midst of a challenging economic environment. The company’s fourth-quarter...
View Article(USB) U.S. Bancorp – Bull of the Day
We are upgrading our recommendation on U.S. Bancorp (USB) to Outperform from Neutral based on its solid fundamentals in the midst of a challenging economic environment. The company’s fourth-quarter...
View Article(HBAN) Michigan Bank Fails – 2012 Tally Hits 16
Last Friday, the Michigan Office of Financial and Insurance Regulation shuttered Dearborn-based Fidelity Bank, taking the number of failed U.S. banks thus far in 2012 to 16. This follows 92 bank...
View Article(NTRS) Northern Trust Corporation Increases Dividend
On Wednesday, Northern Trust Corporation (NTRS) increased its quarterly common stock dividend by 2 cents to 30 cents per share. The dividend will be paid on July 2, 2012 to shareholders of record as of...
View Article(HBAN) Huntington Bancshares Beats – Revenue Increases
After reporting an in line result in the prior quarter, Huntington Bancshares Inc. (HBAN) came up with better-than-expected results in the first quarter of 2012. The company reported earnings per share...
View Article(HBAN) Huntington Bancshares Maintain Neutral Rating
We have reaffirmed our Neutral recommendation on Huntington Bancshares Incorporated (HBAN) based on its fundamentals, the share buyback authorization and the recent acquisition of the Fidelity Bank....
View Article(CMA) Comerica Analyst Stays Neutral on Shares
We have reaffirmed our Neutral recommendation on Comerica Inc. (CMA) based on its fundamentals, stress test clearance and the subsequent capital deployment efforts as well as the current economic...
View Article(FITB) Fifth Third Bancorp to Redeem Trust Preferred Securities Again
On Monday, Fifth Third Bancorp (FITB) announced redemption of trust preferred securities (TruPS) worth $862.5 million yet again, after declaring its plan to redeem $575 million in TruPS only last week....
View Article(HBAN) Huntington Bancshares Earnings Report Beats
Huntington Bancshares Inc. (HBAN) came up with better-than-expected results in the second quarter of 2012. The company reported earnings per share of 17 cents, 2 cents above the Zacks Consensus...
View Article(FITB) Fifth Third Bancorp to Redeem $575M TruPS
Earlier this week, Fifth Third Bancorp (FITB) joined the bandwagon of major financial institutions and announced the redemption of trust preferred securities (TruPS) worth $575 million. These include...
View Article(HBAN) Huntington Bancshares to Redeem $114M Trust Preferred Securities
Huntington Bancshares Incorporated (HBAN) has jumped on the bandwagon of trust preferred securities (TruPS) redemption. On Monday, the company announced that it will redeem TruPS worth $114 million,...
View Article(GABC) German American Bancorp – Value – Zacks Rank Buy
Earnings momentum for German American Bancorp Inc. (GABC) has been advancing since this regional bank posted strong second quarter results, which included an earnings surprise of 11.9%. The company has...
View Article(TAYC) Taylor Capital Group – Momentum – Zacks Rank Buy
Taylor Capital Group Inc. (TAYC) hit a new 52-week high on July 30 after reporting robust second quarter results, which included a 70.8% earnings surprise. Shares of this Zacks #1 Rank (Strong Buy)...
View Article(USB) U.S. Bancorp Wins Ratings Upgrade
Credit rating agency, Standard & Poor’s (S&P), ushered in good news for U.S. Bancorp (USB), by raising its long-term issuer credit rating to ‘A+’ from ‘A’ and affirming its ‘A-1′ short-term...
View Article(CRBC) FirstMerit to Buy Citizens Republic Bancorp
Citizens Republic Bancorp Inc. (CRBC) has finally found a buyer in FirstMerit Corporation (FMER). The two banks have reached an agreement under which Citizens will be acquired by FirstMerit in an...
View Article(CMA) Comerica Stays Neutral
We are reaffirming our long-term Neutral recommendation on Comerica Inc. (CMA) based on its fundamentals and capital redeployment measures amidst the current stressed macroeconomic environment. After...
View Article(NTRS) Northern Trust Misses on Lower Revenues
Northern Trust Corporation’s (NTRS) third-quarter 2012 earnings of 73 cents per share lagged the Zacks Consensus Estimate. The results were in line with the prior quarter’s earnings. Net income was...
View Article(FITB) Fifth Third Bancorp Enjoys Positive Outlook
Fitch Ratings has maintained its Issuer Default Rating (IDR) of “A-” on Fifth Third Bancorp (FITB) last week, but with a positive outlook. According to the rating agency, the positive outlook on the...
View Article(FITB) Fifth Third Bancorp to Buyback Shares
Fifth Third Bancorp (FITB) recently inked a deal to repurchase about $100 million of its outstanding common stock. The share repurchase agreement reached with Credit Suisse International, a division of...
View Article(HBAN) Huntington Bancshares Reports Strong Fourth Quarter
Huntington Bancshares Inc. (HBAN) reported earnings of 19 cents per share in the fourth quarter of 2012, beating the Zacks Consensus Estimate by 2 cents. Results also compared favorably with the...
View Article(USB) U.S. Bancorp Enters Deal With Deutsche Bank AG For Municipal Bond Trustee
U.S. Bank National Association – the lead bank of U.S. Bancorp (USB) – entered into a definitive agreement to obtain Deutsche Bank AG’s (DB) municipal bond trustee unit. The deal is anticipated to be...
View Article(USB) U.S. Bancorp’s Capital Plan Approved
Following the release of the Federal Reserve’s Comprehensive Capital Analysis and Review (CCAR) results, U.S. Bancorp (USB) gets the nod for its capital plan along with other major banks. With the...
View Article(CMA) Comerica Marginally Beats on Earnings
Comerica Inc. (CMA) reported first quarter 2013 earnings of 70 cents per share, beating the Zacks Consensus Estimate of 67 cents. Moreover, results surpassed the year-ago quarter earnings per share of...
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