Regional – Northeast Banks
(STT) State Street Beats Earnings on Lower Costs
State Street Corporation (STT) reported third quarter 2011 operating earnings of 96 cents per share, which were significantly ahead of the Zacks Consensus Estimate of 88 cents. However, the results were flat sequentially and favorable with the prior-year quarter earnings of 86...
20Oct2011 | vitalstocks | 0 comments | Continued(MTB) M&T Bank Corporation Earns Fitch Rating Actions
Fitch Ratings has affirmed M&T Bank Corp.‘s (MTB) long- and short-term Issuer Default Ratings at ‘A-’ and ‘F1,’ respectively. The rating action follows the closure of M&T’s acquisition of Wilmington Trust Corp. on May 16, 2011. The...
5Jul2011 | vitalstocks | 0 comments | Continued(MTB) M&T Bank Reaffirmed at Neutral
We have reiterated our Neutral recommendation on the shares of M&T Bank Corporation (MTB) on the back of a detailed analysis of its fundamentals, the completion of the of the acquisition of Wilmington Trust Corporation in May, the subsequent partial repay of the TARP dues...
26Jun2011 | vitalstocks | 0 comments | Continued(MTB) M&T Bank Earnings Report Tops Estimates
M&T Bank Corporation’s (MTB) first quarter operating earnings of $1.67 per share exceeded the Zacks Consensus Estimate of $1.41. Earnings significantly expanded from $1.23 per share earned in the prior-year quarter, aided by an increase in the net interest income on the...
27Apr2011 | vitalstocks | 0 comments | Continued(STT) State Street First Quarter Earnings Beats Expectations on Higher Revenues
State Street Corporation’s (STT) first quarter 2011 operating earnings of 88 cents per share were ahead of the Zacks Consensus Estimate of 85 cents. The results also compare favorably with the prior quarter earnings of 87 cents and the prior-year quarter earnings of 75 cents. Operating...
20Apr2011 | vitalstocks | 0 comments | Continued(MTB) M&T Bank’s Rating Outlook Remains Negative – Ratings Affirmed by Fitch
M&T Bank Corporation’s (MTB) long-term and short-term issuer default ratings (IDRs) were affirmed by Fitch Ratings at “A-” and “F1,” respectively. However, the rating outlook remains “Negative.” The rating affirmation follows M&T’s announcement of agreeing...
7Nov2010 | vitalstocks | 0 comments | Continued(MTB) M&T Bank and Banco Santander SA Deal Stalls Again – End near?
The M&T Bank (MTB) and Banco Santander SA (STD) deal has stalled again, according to a Wall Street Journal report. The deal is said to be dead since the companies failed to reach a consensus on who will control the merged entity. The deal has been a matter of discussion for...
3Oct2010 | vitalstocks | 0 comments | Continued(STT) State Street Corporation Expands Relationship with Babson
State Street Corporation (STT) is expanding its relationship with Babson Capital Management LLC by providing investment operations and technology services. The company has already been providing custody, trustee, private equity and hedge fund services to Babson Capital since...
3Oct2010 | vitalstocks | 0 comments | Continued(MTB) M&T Bank May Sell Majority Stake to Banco Santander SA
M&T Bank (MTB) may sell a majority stake to Banco Santander SA (STD), according to a Bloomberg report. The report also said that the banks are in consultation, though informally, with the Federal Reserve for sketching a deal. They expect to hear from Federal Reserve by the...
21Sep2010 | vitalstocks | 0 comments | Continued(STT) State Street Corporation Looks to Surpass Estimates
State Street Corp. (STT) said on Wednesday that it expects to report second quarter 2010 operating earnings of 93 cents, which would easily beat the Zacks Consensus Estimate of 72 cents. Operating earnings for the quarter exclude a one-time tax benefit of $180 million or 36 cents...
1Aug2010 | vitalstocks | 0 comments | Continued(STT) State Street Corporation’s Second Quarter 2010 Earnings Scorecard
State Street Corporation (STT) reported its second-quarter 2010 results on July 20. Operating earnings for the reported quarter were in line with the Zacks Consensus Estimate. However, investors were clearly not buoyant with these results. As a result, the share price plummeted...
1Aug2010 | vitalstocks | 0 comments | Continued(STT) State Street Corporation Reports Second Quarter 2010 Earnings In-Line
State Street Corporation (STT) reported second quarter 2010 operating earnings of 93 cents, in line with the Zacks Consensus Estimate. Results improved 24% from 75 cents in the prior quarter and 4.5% from 89 cents in the prior-year quarter. Operating results, however, exclude...
20Jul2010 | vitalstocks | 0 comments | Continued(STT) State Street Corporation – Bear of the Day
Given the critical sustainability factor in the current sluggish economic recovery, we are downgrading our recommendation on State Street Corp. (STT) to Underperform. The company’s first-quarter earnings were in line with the Zacks Consensus Estimate. Results for the quarter...
30Apr2010 | vitalstocks | 0 comments | Continued(STT) State Street Corporation Reports Earnings In Line
State Street Corporation (STT) reported first quarter operating earnings of 75 cents, in line with the Zacks Consensus Estimate. However, the results were down from the prior-year quarter’s earnings of $1.04 per share. Operating results, however, basically exclude the net interest...
21Apr2010 | vitalstocks | 0 comments | Continued(MTB) M&T Bank Earnings Soundly Beat Estimates on Margin Expansion
M&T Bank’s (MTB) first quarter earnings of $1.23 per share left behind the Zacks Consensus Estimate of 97 cents per share. Earnings more than doubled from 59 cents per share earned in the prior-year quarter, aided by an expansion in net interest margin coupled with lower...
19Apr2010 | vitalstocks | 0 comments | Continued(SBNY) U.S. Treasury Sells Warrants of Signature Bank
The Treasury announced Thursday that it has received net proceeds of $11.2 million from the sale of warrants it obtained as part of its investment in New York-based Signature Bank (SBNY) through the Troubled Asset Relief Program (TARP) during the height of the financial crisis....
12Mar2010 | vitalstocks | 0 comments | Continued(STT) State Street Corporation Pays Departing CEO $5.4 Million
State Street Corp. (STT) said on Wednesday that it has paid $5.4 million cash to the departing Chief Executive Ronald Logue as part of his incentive compensation for last year. State Street also paid Logue 35,786 units of restricted stock. Half the cash will be in deferred payments...
4Mar2010 | vitalstocks | 0 comments | Continued(NLY) The Fed Raises the Discount Rate: What It Means For You
by Dr. Mark Skousen, Contributing Editor Tuesday, February 23, 2010: Issue #1202 Last Thursday, the Federal Reserve suddenly raised the Discount Rate (the interest rate charged to member banks when they borrow from the Fed) from 0.50% to 0.75%. All members of the 12 Federal...
23Feb2010 | InvestmentU | 0 comments | Continued(STT) State Street Corporation Settles Subprime Lawsuit
State Street Corporation (STT) agreed on Thursday to pay investors over $300 million to settle allegations by federal and state regulators over misleading investors about its investments in subprime mortgages at the beginning of the credit crisis. Under the terms of the settlement,...
5Feb2010 | vitalstocks | 0 comments | Continued(NAL) NewAlliance Bancshares Meets Earnings Expectations
NewAlliance Bancshares Inc.’s (NAL) fourth-quarter earnings came in at 12 cents per share, in line with the Zacks Consensus Estimate. This compares favorably with earnings of 10 cents in the year-ago quarter. The upside was primarily due to a strong growth in core deposits,...
27Jan2010 | vitalstocks | 0 comments | Continued(MTB) M&T Bank Corporation’s Earnings Misses Estimates
Earlier today, M&T Bank Corporation (MTB) reported earnings of $1.04 per share in the fourth quarter of 2009. Excluding a series of special items in the quarter, the company earned 83 cents per share. The results were well short of the Zacks Consensus estimate of 89 cents. Taxable-equivalent...
20Jan2010 | vitalstocks | 0 comments | Continued(STT) Fitch Ratings Upgrades State Street Corporation on Improving Capital and Liquidity
Acknowledging State Street Corp.’s (STT) improvement in capital and liquidity position, on Tuesday, Fitch upgraded some of the ratings for the company. Fitch Ratings raised the individual and preferred stock ratings of State Street and subsidiary State Street Bank and Trust...
23Dec2009 | vitalstocks | 0 comments | Continued(NAL) NewAlliance Bancshares to Open Branch in Hartford
NewAlliance Bank, a subsidiary of NewAlliance Bancshares Inc. (NAL), said that it will open a branch in downtown Hartford. This is the first branch opening in downtown Hartford since Jun 2008. NewAlliance has been steadily increasing its presence in the Hartford region. The company...
11Dec2009 | vitalstocks | 0 comments | Continued(STT) State Street Corporation Acquires Mourant International Finance Administration
State Street Corporation (STT) said on Tuesday that it will acquire European investment servicing firm Mourant International Finance Administration in an effort to expand its global fund administration and alternative servicing capabilities. According to the company, the deal...
2Dec2009 | vitalstocks | 0 comments | Continued(STT) State Street Corporation Wins $300 Billion in Business
State Street Corporation (STT) said on Monday that it has expanded its relationship with Morgan Stanley (MS) to provide investment management operations outsourcing services for the assets of Morgan Stanley Investment Management (MSIM) worth about $300 billion. As part of the...
1Dec2009 | vitalstocks | 0 comments | Continued(NAL) NewAlliance Bancshares Tops Estimates Again
NewAlliance Bancshares Inc.’s (NAL) third-quarter earnings came in at 13 cents per share, two cents ahead of the Zacks Consensus Estimate. This also compares favorably with earnings of 11 cents per share in the year-ago quarter. The upside was primarily due to strong growth...
1Nov2009 | vitalstocks | 0 comments | Continued(MTB) M&T Bank Corporation Surpasses Estimates
M&T Bank Corporation’s (MTB) has reported third quarter earnings of 97 cents per share. Excluding a series of special items in the quarter, the company earned 89 cents per share. The results were well ahead of the Zacks Consensus estimate of 68 cents. The company had earned...
20Oct2009 | vitalstocks | 0 comments | Continued(STT) State Street Corporation Tops Consensus Estimates
State Street Corporation’s (STT) third quarter operating earnings of $1.05 per share were 5 cents ahead of the Zacks Consensus Estimate. Operating results for the quarter exclude $11 million in pre-tax merger and integration costs associated with the Investors Financial Services...
20Oct2009 | vitalstocks | 0 comments | Continued(NPBC) A Rare Bank Without Defaults
A Rare Bank Without Defaults by David Fessler, Advisory Panelist Friday, December 19, 2008: Issue #904 No Credit… No License… No History? No Problem? Even before our current mortgage meltdown, most banks would never touch a prospective customer with any one of the above issues,...
26Dec2008 | InvestmentU | 0 comments | Continued