Regional – Mid-Atlantic Banks

(BBT) BB&T’s Capital Plan Rejected by Federal Reserve

In a shocking development, the Federal Reserve has rejected the capital plan of BB&T Corporation (BBT) in spite of the latter’s Stress Test clearance. Neither the company nor the Fed has clearly disclosed the reasons for the...

2Apr2013 | | Comments Off on (BBT) BB&T’s Capital Plan Rejected by Federal Reserve | Continued

(BBT) BB&T Reiterated at Neutral

We are maintaining our ‘Neutral’ recommendation on BB&T Corporation (BBT) based on its sound organic growth strategy and stable net interest margin (NIM). However, elevated operating expenses, significant exposure to perilous...

31Dec2012 | | Comments Off on (BBT) BB&T Reiterated at Neutral | Continued

(SNV) Treasury to Exit Banks’ TARP in 2013

On Tuesday, the Treasury Department released an update on its strategy initiated early this year of exiting its remaining Troubled Asset Relief Program (TARP) investments in banks through the Capital Purchase Program (CPP). Currently, 218 banks remai

27Dec2012 | | Comments Off on (SNV) Treasury to Exit Banks’ TARP in 2013 | Continued

(BBT) Fitch Affirms Ratings of 14 U.S. Banks

Fitch Ratings has affirmed its Issuer Default Ratings (IDRs) on 14 large regional banks. This follows a thorough review of the peer group.

The banks include BB&T Corporation (BBT), Capital One Finance Corp.(

5Nov2012 | | Comments Off on (BBT) Fitch Affirms Ratings of 14 U.S. Banks | Continued

(BBT) FDIC Files Lawsuit Related to Mortgage-Backed Securities

The Federal Deposit Insurance Corp. (FDIC) has filed a lawsuit against major banks over the alleged sale of $388 million of risky mortgage-backed securities (MBS) to the failed Colonial Bank. Apart from attorney fees and court expenses, the FDIC is seeking $189 million in damages.

Colonial...

14Aug2012 | | Comments Off on (BBT) FDIC Files Lawsuit Related to Mortgage-Backed Securities | Continued

(BBT) BB&T Shares Downgraded to Neutral

We lowered our recommendation on BB&T Corporation (BBT) to Neutral from Outperform despite the fact that it reported better-than-expected first quarter results. The recommendation was downgraded owing to the company’s ever-increasing...

10Aug2012 | | Comments Off on (BBT) BB&T Shares Downgraded to Neutral | Continued

(BBT) BB&T-BankAtlantic Deal Opposed Again

BB&T Corporation‘s (BBT) deal to acquire BankAtlantic, a wholly owned subsidiary of BankAtlantic Bancorp Inc. (BBX) has been floored again with fresh charges...

26Apr2012 | | Comments Off on (BBT) BB&T-BankAtlantic Deal Opposed Again | Continued

(BBT) BB&T Beats Estimates – Higher Revenues

BB&T Corp.’s (BBT) first-quarter 2012 earnings of 61 cents per share beat the Zacks Consensus Estimate by 4 cents. In addition, the reported earnings significantly outpaced the prior-year quarter’s earnings of 32 cents.

Better-than-expected...

19Apr2012 | | Comments Off on (BBT) BB&T Beats Estimates – Higher Revenues | Continued

(BBT) BB&T Marginally Beats Earnings Estimates

BB&T Corp.’s (BBT) fourth-quarter 2011 earnings of 55 cents per share were marginally ahead of the Zacks Consensus Estimate of 52 cents. This also compares favorably with the prior quarter earnings of 52 cents and the prior-year...

21Jan2012 | | 0 comments | Continued

(BBT) Standard & Poor’s Revises Regional Bank Ratings

In yet another round of credit ratings revision, Standard & Poor’s (S&P) announced changes in credit ratings for 31 regional banks. The list includes 28 publicly traded parent company banks, a non-public entity Bank of North Dakota and a couple of North American units of European banks.

Some...

7Dec2011 | | 0 comments | Continued

(BBT) BB&T Earnings Report Moves a Penny Ahead of Estimates

BB&T Corporation’s (BBT) first quarter 2011 earnings came in at 32 cents per share, surpassing the Zacks Consensus Estimate by a penny as well as improving from the prior-year quarter’s earnings of 27 cents.

BB&T’s...

24Apr2011 | | 0 comments | Continued

(BBT) BBT Corporation’s Ratings Lowered by Moody’s

On Monday, BB&T Corp.’s (BBT) senior debt and long-term deposit ratings were downgraded by Moody’s Investors Service, the ratings arm of Moody’s Corp. (MCO),...

27Dec2010 | | 0 comments | Continued

(BBT) BB&T Analyst Upgrades Shares to Neutral

We are upgrading our recommendation on BB&T Corp. (BBT) to Neutral from Underperform based on its balanced growth structure, continuous improvement in deposit mix and strong net interest margin (NIM).

BB&T’s third...

2Dec2010 | | 0 comments | Continued

(BBT) BB&T Quarterly Earnings Beat by a Nickel

BB&T Corporation’s (BBT) third quarter 2010 adjusted earnings came in at 31 cents, a nickel ahead of the Zacks Consensus Estimate of 26 cents. Adjusted earnings for the reported quarter leave out merger-related charges of one...

7Nov2010 | | 0 comments | Continued

(WL) Wilmington Trust – Bear of the Day

We have downgrading our long-term recommendation on Wilmington Trust (WL) to Underperform based on deteriorating credit quality and its exposure to risky construction loans. Wilmington’s second quarter 2010 loss was substantially...

30Sep2010 | | 0 comments | Continued

(WL) Wilmington Trust – Bear of the Day

We are downgrading our long-term recommendation on Wilmington Trust (WL) to Underperform based on deteriorating credit quality and its exposure to risky construction loans.

Wilmington’s second quarter 2010 loss was substantially...

23Sep2010 | | 0 comments | Continued

(BBT) BB&T to Reclassify Non-performing Loans

On Tuesday, while speaking at Barclays Global Financial Services Conference, BB&T Corp.’s (BBT) chief executive officer (CEO) Mr. Kelly King stated that the company will reclassify more than $1 billion non-performing...

15Sep2010 | | 0 comments | Continued

(BBT) BB&T Corporation – Bear of the Day

We are downgrading our recommendation on BB&T (BBT) to Underperform based on concerns related to rising non-interest expenses and deteriorating credit quality.

Higher non-interest expense was among the negatives in BB&T’s...

14Sep2010 | | 0 comments | Continued

(BBT) BB&T Corporation – Bear of the Day

We are downgrading our recommendation on BB&T (BBT) to Underperform based on concerns related to rising non-interest expenses and deteriorating credit quality.

Second quarter 2010 earnings were in line with the Zacks Consensus...

3Sep2010 | | 0 comments | Continued

(BOFL) U.S. Bank Failures Hit 78 in 2010 So Far

The ongoing economic volatility has taken its toll on another set of banks last week. On Friday, five more were shuttered by U.S. regulators. Out of the five failed banks, three were based in Florida and one each in Nevada and California. This brings the total number of bank failures to 78 so far...

3Jun2010 | | 0 comments | Continued

(WL) Wilmington Trust Corporation Analysts Upgrade to Neutral

Given the current market recovery factor and valued growth indicators, we are upgrading our recommendation on the shares of Wilmington Trust Corporation (WL) to Neutral from Underperform. Although the current economic turmoil has weakened...

4Mar2010 | | 0 comments | Continued

(WL) Wilmington Trust Corporation Begins Stock Offering

In order to increase capital and enhance its liquidity, on Feb 22, 2010, Wilmington Trust Corp. (WL) announced the beginning of the public offering of its 18,875,000 shares that have been underwritten on its common stock. At $13.25...

24Feb2010 | | 0 comments | Continued

(SASR) Small Bank Stocks Are Hot

As always I start my quest for the next great stock by taking the new high list on Barchart and sorting for frequency. I then take the top 10 and look for something interesting. Yesterday when all the major banks were getting hit on the chin the smaller and regional banks seemed to be doing better....

9Feb2010 | | 0 comments | Continued

(UCBI) United Community Banks Misses Earnings

United Community Banks Inc. (UCBI) reported fourth quarter results on Friday. The company posted a net operating loss of $39.8 million, or 45 cents per share, compared to net operating loss of $46.7 million, or 99 cents per share...

1Feb2010 | | 0 comments | Continued

(WL) Wilmington Trust Corporation Underperforms Expectations

Wilmington Trust Corporation (WL) reported a fourth quarter loss available to common shareholders of $15.7 million or 23 cents per share compared to a loss of $69.4 million or $1.02 per share in the year-ago quarter. The results lagged...

1Feb2010 | | 0 comments | Continued

(BBT) BB&T Corporation Beats Earnings Estimates

BB&T Corporation (BBT) reported fourth quarter operating earnings per share of 27 cents, substantially ahead of the Zacks Consensus Estimate of 20 cents and the reported figure of 23 cents in the prior quarter. However, earnings...

23Jan2010 | | 0 comments | Continued

(UCBI) United Community Bank’s Loss Widens

United Community Banks Inc. (UCBI) reported third-quarter results on Friday. The company posted its fifth-straight quarterly net operating loss of $43.7 million, or 93 cents per share, compared to net operating loss of $39.9 million,...

27Oct2009 | | 0 comments | Continued

(BBT) BB&T Corporation Reports in Line – Down Significantly Year-Over-Year

BB&T Corporation’s (BBT) third quarter earnings of 23 cents per share were in line with the Zacks Consensus Estimate. However, this compares unfavorably with earnings of 65 cents in the year-ago quarter.

The year-over-year decrease in earnings was due primarily to a 94.8%...

19Oct2009 | | 0 comments | Continued

(WL) Wilmington Trust – Bear of the Day

Wilmington Trust’s (WL) second-quarter earnings came in ahead of the Zacks Consensus Estimate, aided by strong growth in client services business and improvement in net interest margin. However, credit quality deteriorated drastically during the reported quarter.

In 2009, both S&P...

6Oct2009 | | 0 comments | Continued

(BBT) Federally Insured Bank Failures Continue

Three more U.S. banks failed; tally reaches 84 this year

Bank failures continue unabated as U.S. regulators on Friday closed down three more banks in California, Maryland and Minnesota. This takes the total number of failed federally insured banks this year to 84,...

31Aug2009 | | 0 comments | Continued