Regional – Midwest Banks
(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 assets under administration, will enhance Northern Trust’s capabilities and create...
3Aug2011 | vitalstocks | 0 comments | Continued(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 (TARP) money that M&I had borrowed from the U.S. Treasury in 2008. Along...
6Jul2011 | vitalstocks | 0 comments | Continued(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 environment. Fifth Third’s first quarter 2011 earnings of 10 cents per...
29Jun2011 | vitalstocks | 0 comments | Continued(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 acquire Omnium LLC, a leading hedge fund administrator, from Citadel. The acquisition...
29Jun2011 | vitalstocks | 0 comments | Continued(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 environment and the recent credit trends. Huntington Bancshares reported first...
26Jun2011 | vitalstocks | 0 comments | Continued(MI) Marshall & Ilsley Corporation and Bank of Montreal Merger Gets Regulatory Nod
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 have finally garnered all necessary approvals required to complete the merger. With...
22Jun2011 | vitalstocks | 0 comments | Continued(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 February 2011, Northern Trust announced its plan to acquire the fund administration,...
14Jun2011 | vitalstocks | 0 comments | Continued(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 acquisition of Omnium, which has around $70 billion in assets under administration,...
6Jun2011 | vitalstocks | 0 comments | Continued(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 securities (TRUPs) should be redeemed by June 15, 2011. As per Fifth Third, each Trust...
29May2011 | vitalstocks | 0 comments | Continued(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 dangerous. For the month it was up 6.0%, and it was worse than the $47.7 billion...
11May2011 | vitalstocks | 0 comments | Continued(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 first-quarter 2011 earnings of 59 cents per share, which was below the Zacks...
5May2011 | vitalstocks | 0 comments | Continued(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. M&I’s results for the reported quarter suffered mainly due to lower net interest...
2May2011 | vitalstocks | 0 comments | Continued(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 interest rate environment, which in turn, negatively affected net interest...
27Apr2011 | vitalstocks | 0 comments | Continued(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 Zacks Consensus Estimate of 49 cents. Results also compare favorably with earnings...
25Apr2011 | vitalstocks | 0 comments | Continued(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. However, earnings saw a striking year-over-year improvement from a loss of 46 cents. The...
20Apr2011 | vitalstocks | 0 comments | Continued(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, up from 34 cents earned in the year-earlier quarter. For full year 2011, the...
12Apr2011 | vitalstocks | 0 comments | Continued(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 company to benefit from rising interest rates, more visibility is needed to get...
3Apr2011 | vitalstocks | 0 comments | Continued(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 Fifth Third’s previous quarterly dividend of 1 cent, an increase of...
23Mar2011 | vitalstocks | 0 comments | Continued(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 share on a quarterly basis. The increased dividend for the quarter will be...
22Mar2011 | vitalstocks | 0 comments | Continued(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 is based on the company’s fundamentals, recent strategic acquisitions,...
4Mar2011 | vitalstocks | 0 comments | Continued(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 Ireland (IRE), comprise the fund administration, investment operations outsourcing...
2Mar2011 | vitalstocks | 0 comments | Continued(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 environment, which in turn, was negatively affected by net interest income and...
24Jan2011 | vitalstocks | 0 comments | Continued(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 per share, in line with the Zacks Consensus Estimate. Quarterly results of U.S....
24Jan2011 | vitalstocks | 0 comments | Continued(HBAN) Huntington Bancshares Approach TARP Repayment
Huntington Bancshares Inc. (HBAN) is inching closer to the repayment of the bailout money it received under the U.S. Government’s Troubled Asset Relief Program (TARP). Last Friday, the company concluded its equity and debt offerings with the intent of paying back the TARP loan...
21Dec2010 | vitalstocks | 0 comments | Continued(CMA) Federal Reserve Devises Dividend Increase Plan
Following the doubling of dividend and share buyback announcement by Comerica Inc. (CMA), the Federal Reserve has devised guidelines that it would follow to grant banks, that undergone stress test in 2009, the permission to increase dividends and buy back shares. The Fed plans...
18Nov2010 | vitalstocks | 0 comments | Continued(USB) U.S. Bancorp Announces Aquisition of Bank of America Unit
In an effort to expand its corporate trust business, U.S. Bancorp’s (USB) lead bank, U.S. Bank, has entered into an agreement to acquire Bank of America Corp.’s (BAC) U.S and Europe-based securitization trust administration businesses. The deal involves a cash purchase price...
17Nov2010 | vitalstocks | 0 comments | Continued(CMA) Comerica 2010 Third Quarter Earnings Lags Estimates
Comerica Incorporated (CMA) reported third-quarter 2010 net income of 33 cents per share, below the Zacks Consensus Estimate of 41 cents and lower than prior quarter by 6 cents. However, results were far ahead of the prior-year quarter, as third-quarter 2009 had incurred a loss...
17Nov2010 | vitalstocks | 0 comments | Continued(CMA) Comerica Doubles Dividend – Declares Buyback
Comerica Inc. (CMA) is boosting investors’ confidence by doubling its dividend and announcing a share repurchase authorization. The dividend, which increased to 10 cents from 5 cents paid in the prior quarter, is payable on January 1, 2011, to common shareholders of record...
17Nov2010 | vitalstocks | 0 comments | Continued(USB) U.S. Bancorp Earnings Beat The Street
U.S. Bancorp (USB) reported third quarter 2010 earnings attributable to common shareholders of $871 million or 45 cents per share, two cents ahead of the Zacks Consensus Estimate of 43 cents. The results also compare favorably with the prior quarter’s earnings of $862 million...
9Nov2010 | vitalstocks | 0 comments | Continued(HBAN) Huntington Bancshares Earnings Beat Wall Street Estimates
Huntington Bancshares Incorporated (HBAN) reported a third quarter 2010 profit of $100.9 million or 10 cents per share, ahead of the Zacks Consensus Estimate of 6 cents. This also compares favorably with earnings of $48.8 million or 3 cents a share in the prior quarter and a...
26Oct2010 | vitalstocks | 0 comments | Continued