Stock Blog Hub » Regional – Northeast Banks

(STT) State Street Beats Earnings on Lower Costs

vitalstocks — Thu, 20 Oct 2011 14:46:04 +0000

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 cents. State Street’s operating results, however, exclude certain discount accretion related to former [...]

(STT) State Street Beats Earnings on Lower Costs

(MTB) M&T Bank Corporation Earns Fitch Rating Actions

vitalstocks — Wed, 06 Jul 2011 00:12:30 +0000

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 rating outlook remains Negative. The proposed corporate restructuring of M&T announced on June 30, 2011 led to the rating [...]

(MTB) M&T Bank Corporation Earns Fitch Rating Actions

(MTB) M&T Bank Reaffirmed at Neutral

vitalstocks — Sun, 26 Jun 2011 17:47:32 +0000

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 and the current economic environment. M&T’s first quarter operating earnings of [...]

(MTB) M&T Bank Reaffirmed at Neutral

(MTB) M&T Bank Earnings Report Tops Estimates

vitalstocks — Wed, 27 Apr 2011 18:07:45 +0000

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 back of net interest margin expansion coupled with substantially lower provision for credit [...]

(MTB) M&T Bank Earnings Report Tops Estimates

(STT) State Street First Quarter Earnings Beats Expectations on Higher Revenues

vitalstocks — Wed, 20 Apr 2011 13:39:21 +0000

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 results, however, exclude certain discount accretion related to former [...]

(STT) State Street First Quarter Earnings Beats Expectations on Higher Revenues

(MTB) M&T Bank’s Rating Outlook Remains Negative – Ratings Affirmed by Fitch

vitalstocks — Sun, 07 Nov 2010 20:16:33 +0000

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 to buy Wilmington Trust Corporation (WL) in a stock-for-stock transaction valued at around $351 million. According to Fitch, the combined [...]

(MTB) M&T Bank’s Rating Outlook Remains Negative – Ratings Affirmed by Fitch

(MTB) M&T Bank and Banco Santander SA Deal Stalls Again – End near?

vitalstocks — Mon, 04 Oct 2010 05:28:37 +0000

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 several months. Santander sought [...]

(MTB) M&T Bank and Banco Santander SA Deal Stalls Again – End near?

(STT) State Street Corporation Expands Relationship with Babson

vitalstocks — Mon, 04 Oct 2010 05:24:02 +0000

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 2001. With the expansion of its global business, the expanding relationship provides Babson Capital an opportunity to [...]

(STT) State Street Corporation Expands Relationship with Babson

(MTB) M&T Bank May Sell Majority Stake to Banco Santander SA

vitalstocks — Wed, 22 Sep 2010 03:12:29 +0000

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 end of this month. Both M&T Bank and [...]

(MTB) M&T Bank May Sell Majority Stake to Banco Santander SA

(STT) State Street Corporation Looks to Surpass Estimates

vitalstocks — Mon, 02 Aug 2010 00:14:28 +0000

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 per share due to the restructuring of former [...]

(STT) State Street Corporation Looks to Surpass Estimates

(STT) State Street Corporation’s Second Quarter 2010 Earnings Scorecard

vitalstocks — Sun, 01 Aug 2010 17:37:51 +0000

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 following the earnings release. The overall response has been negative with respect to [...]

(STT) State Street Corporation’s Second Quarter 2010 Earnings Scorecard

(STT) State Street Corporation Reports Second Quarter 2010 Earnings In-Line

vitalstocks — Wed, 21 Jul 2010 03:09:55 +0000

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 a pre-tax charge related to certain common and collective trust funds, merger [...]

(STT) State Street Corporation Reports Second Quarter 2010 Earnings In-Line

(STT) State Street Corporation – Bear of the Day

vitalstocks — Fri, 30 Apr 2010 16:04:07 +0000

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 were aided mainly by an increase in revenue and growth in assets under management. However, earnings [...]

(STT) State Street Corporation – Bear of the Day

(STT) State Street Corporation Reports Earnings In Line

vitalstocks — Wed, 21 Apr 2010 21:40:42 +0000

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 revenue associated with the discount accretion from the consolidation of the asset-backed commercial paper [...]

(STT) State Street Corporation Reports Earnings In Line

(MTB) M&T Bank Earnings Soundly Beat Estimates on Margin Expansion

vitalstocks — Mon, 19 Apr 2010 21:41:45 +0000

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 credit costs. Net interest income (NII) came in at [...]

(MTB) M&T Bank Earnings Soundly Beat Estimates on Margin Expansion

(SBNY) U.S. Treasury Sells Warrants of Signature Bank

vitalstocks — Fri, 12 Mar 2010 18:09:35 +0000

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. In Mar 2009, Signature had repaid the entire $120 million [...]

(SBNY) U.S. Treasury Sells Warrants of Signature Bank

(STT) State Street Corporation Pays Departing CEO $5.4 Million

vitalstocks — Thu, 04 Mar 2010 16:51:43 +0000

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 to Logue. Logue had stepped down as [...]

(STT) State Street Corporation Pays Departing CEO $5.4 Million

(NLY) The Fed Raises the Discount Rate: What It Means For You

InvestmentU — Wed, 24 Feb 2010 00:47:39 +0000

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 Reserve banks supported the decision. In its decision, the Fed [...]

(NLY) The Fed Raises the Discount Rate: What It Means For You

(STT) State Street Corporation Settles Subprime Lawsuit

vitalstocks — Sat, 06 Feb 2010 01:30:39 +0000

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, State Street will pay about 270 investors. State Street will also pay [...]

(STT) State Street Corporation Settles Subprime Lawsuit

(NAL) NewAlliance Bancshares Meets Earnings Expectations

vitalstocks — Wed, 27 Jan 2010 18:24:25 +0000

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, record organic residential mortgage originations and improved net interest margin (NIM). [...]

(NAL) NewAlliance Bancshares Meets Earnings Expectations

(MTB) M&T Bank Corporation’s Earnings Misses Estimates

vitalstocks — Wed, 20 Jan 2010 22:55:44 +0000

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 net interest income came in at $565 [...]

(MTB) M&T Bank Corporation’s Earnings Misses Estimates

(STT) Fitch Ratings Upgrades State Street Corporation on Improving Capital and Liquidity

vitalstocks — Wed, 23 Dec 2009 16:56:19 +0000

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 Co. to “B/C” from “C” and also lifted the preferred stock rating of State [...]

(STT) Fitch Ratings Upgrades State Street Corporation on Improving Capital and Liquidity

(NAL) NewAlliance Bancshares to Open Branch in Hartford

vitalstocks — Fri, 11 Dec 2009 22:45:18 +0000

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 has now 87 branches in Connecticut and Western Massachusetts. The new [...]

(NAL) NewAlliance Bancshares to Open Branch in Hartford

(STT) State Street Corporation Acquires Mourant International Finance Administration

vitalstocks — Wed, 02 Dec 2009 20:42:06 +0000

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 is expected to close in the first quarter of 2010 and expected to be slightly accretive to [...]

(STT) State Street Corporation Acquires Mourant International Finance Administration

(STT) State Street Corporation Wins $300 Billion in Business

vitalstocks — Wed, 02 Dec 2009 00:59:48 +0000

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 deal, State Street will absorb 100 employees from MSIM. State Street, one of the [...]

(STT) State Street Corporation Wins $300 Billion in Business

(NAL) NewAlliance Bancshares Tops Estimates Again

vitalstocks — Sun, 01 Nov 2009 21:50:37 +0000

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 in core deposits, organic loan originations and improved net interest margin [...]

(NAL) NewAlliance Bancshares Tops Estimates Again

(MTB) M&T Bank Corporation Surpasses Estimates

vitalstocks — Tue, 20 Oct 2009 23:44:07 +0000

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 82 cents per share in the year-ago quarter. [...]

(MTB) M&T Bank Corporation Surpasses Estimates

(STT) State Street Corporation Tops Consensus Estimates

vitalstocks — Tue, 20 Oct 2009 23:34:38 +0000

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 Corp. acquisition. However, the results were down 15.3% from $1.24 per share in the [...]

(STT) State Street Corporation Tops Consensus Estimates

(NPBC) A Rare Bank Without Defaults

InvestmentU — Sat, 27 Dec 2008 00:18:38 +0000

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, let alone all three. But there’s one bank in a [...]

(NPBC) A Rare Bank Without Defaults