Savings & Loans
(OCN) Ocwen Financial Analyst Upgrades Shares to Outperform
We have upgraded our long term recommendation on Ocwen Financial Corporation (OCN) to “Outperform” from “Neutral”. The main reasons behind this raise are the company’s stable liquidity position and expected synergies from the recent servicing portfolio acquisitions...
17Jan2012 | vitalstocks | 0 comments | Continued(BBX) BankAtlantic Bancorp Files Lawsuit Blocking Sale to BB&T Corporation
A group of corporate debt investors of BankAtlantic, a wholly-owned subsidiary of BankAtlantic Bancorp Inc. (BBX), filed a lawsuit against the firm to stop it from selling its loans, deposits and branches to BB&T Corporation (BBT). These investors believe that this sale infringes...
28Nov2011 | vitalstocks | 0 comments | Continued(BKYF) U.S. TARP Becomes More Profitable
With the reimbursement of $210 million of bailout money by Bank of Kentucky Financial Corp. (BKYF) and First Midwest Bancorp Inc. (FMBI), the U.S. Treasury has recovered nearly $258 billion from the bailed out banks. Approximately $245 billion was given to these banks as part...
28Nov2011 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial Earnings Beats Estimates
Regional bank People’s United Financial Inc. (PBCT) announced its third-quarter 2011 operating earnings per share of 19 cents, outpacing the Zacks Consensus Estimate by 2 cents. Moreover, earnings compared favorably with 17 cents per share in the prior quarter and 8 cents...
24Oct2011 | vitalstocks | 0 comments | Continued(WFSL) Washington Federal Analyst Maintains Neutral Rating
We are maintaining our Neutral recommendation on Washington Federal Inc. (WFSL) based on the company’s fiscal third quarter results that were slightly better than the Zacks Consensus Estimate, benefitting mainly from increased net interest income (NII) and an almost stable...
1Sep2011 | vitalstocks | 0 comments | Continued(HCBK) Hudson City Bancorp – Bear of the Day
We are downgrading our recommendation on Hudson City Bancorp (HCBK) to Underperform. It reported a loss on a GAAP basis in the first quarter of 2011 for the completion of the balance sheet restructuring during the quarter. Lower interest and dividend income, and increased non-interest...
8Jul2011 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial Completes Danvers Bancorp Acquisition
On Friday, People’s United Financial Inc. (PBCT) completed the acquisition of Massachusetts-based Danvers Bancorp Inc. (DNBK). The company paid 18.5 million shares of common stock and $214.5 million in cash for the acquisition. The acquisition was completed following the...
5Jul2011 | vitalstocks | 0 comments | Continued(HCBK) Hudson City Bancorp – Bear of the Day
We are downgrading our recommendation on Hudson City Bancorp (HCBK) to Underperform. It reported a loss on a GAAP basis in the first quarter of 2011 for the completion of the balance sheet restructuring during the quarter. Lower interest and dividend income, and increased non-interest...
30Jun2011 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial and Danvers Bancorp Deal Approved
People’s United Financial Inc. (PBCT) and Danvers Bancorp Inc. (DNBK) got the approval for their proposed merger from the Office of the Massachusetts Commissioner of Banks and the Massachusetts Board of Bank Incorporation on June 27, 2011. In May, the deal was also approved...
30Jun2011 | vitalstocks | 0 comments | Continued(HCBK) Hudson City Bancorp Analyst Cuts to Underperform
We are downgrading our recommendation on Hudson City Bancorp Inc. (HCBK) to Underperform from Neutral considering its fundamentals, dividend cut, restructuring initiatives and the current low interest rate environment. Hudson City reported a loss of $555.7 million or $1.13 per...
29Jun2011 | vitalstocks | 0 comments | Continued(WFSL) Washington Federal Authorizes Share Buyback
On Monday, Washington Federal Inc. (WFSL) announced that its board of directors has authorized a new share repurchase program, under which the company will be able to buyback additional 10 million common shares. WFSL stated that this new share repurchase authorization is an extension...
29Jun2011 | vitalstocks | 0 comments | Continued(WFSL) Washington Federal Upgraded
We are upgrading our recommendation on Washington Federal Inc. (WFSL) to Neutral from Underperform based on improving credit quality and decreasing expenses. Though we remain concerned about the pressure on net interest margin (NIM) and the company’s considerable exposure to...
24Jun2011 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial Stays Neutral
We are reiterating our Neutral recommendation on People’s United Financial Inc. (PBCT) backed by the company’s better-than-expected first-quarter 2011 earnings. In April, People’s United reported first-quarter 2011 operating earnings per share of 15 cents, surpassing...
23Jun2011 | vitalstocks | 0 comments | Continued(PFS) Roche Holdings Reports Positive Data on BCC Drug
Roche Holdings Ltd. (RHHBY) reported positive results from a mid-stage trial on vismodegib. The candidate is being evaluated for the treatment of advanced basal cell carcinoma (BCC). The phase II trial (ERIVANCE BCC) involved patients whose lesions could not be operated, or for...
22Jun2011 | vitalstocks | 0 comments | Continued(HCBK) Hudson City Bancorp Completes Restructuring
Yesterday,Hudson City Bancorp Inc. (HCBK) announced the completion of its balance sheet restructuring. The restructuring condensed higher-cost structured borrowings, which are expected to increase net interest income in the coming quarters as interest expenses goes down. As a...
29Mar2011 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial Analyst Maintains Neutral on Shares
We have maintained our Neutral recommendation on People’s United Financial Inc. (PBCT). The decision is based on synergies gains expected from recent acquisitions, but low interest environment might act as a deterrent to net interest income of the company. In January, People’s...
28Mar2011 | vitalstocks | 0 comments | Continued(HCBK) Hudson City Bancorp – Bear of the Day
Hudson City Bancorp’s (HCBK) third-quarter earnings came a penny behind the Zacks Consensus Estimate, reflecting lower interest margin, increased noninterest expense and a higher provision for loan losses. We expect pressure on earning assets and margin to continue with...
7Jan2011 | vitalstocks | 0 comments | Continued(WFSL) Washington Federal Analyst Lowers Shares to Underperform
We have recently downgraded our recommendation on Washington Federal Inc. (WFSL) to Underperform from Neutral based on its sizable exposure to risky loan portfolios and rising costs. Washington Federal’s fiscal fourth-quarter 2010 earnings missed the Zacks Consensus Estimate...
11Dec2010 | vitalstocks | 0 comments | Continued(PFS) ImmunoCellular Therapeutics Targeting Cancer Stem Cells
Written by Grant Zeng, CFA ImmunoCellular Therapeutics (IMUC) Targeting Cancer Stem Cells: The Root Cause of Cancer Cancer treatment with therapeutics has made great progress in the past decade. Chemotherapy has long been the only option for oncologists to fight cancers. But...
9Nov2010 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial’s Earnings Report Lags Estimates
Regional bank People’s United Financial Inc. (PBCT) announced third quarter 2010 operating earnings per share of 8 cents, which was below the Zacks Consensus Estimate of 10 cents. Earnings also compared unfavorably with 9 cents per share reported in the prior quarter, but...
7Nov2010 | vitalstocks | 0 comments | Continued(HCBK) Hudson City Bancorp – Bear of the Day
We are downgrading our recommendation on Hudson City Bancorp (HCBK) to Underperform. The company’s second-quarter operating earnings came in just a penny ahead of the Zacks Consensus Estimate, primarily helped by lower interest expense, partially offset by an increase in...
10Sep2010 | vitalstocks | 0 comments | Continued(FNFG) First Niagara Financial Group Acquires NewAlliance Bancshares
Regional bank First Niagara Financial Group Inc. (FNFG) said on Thursday that it will acquire NewAlliance Bancshares Inc. (NAL) in a $1.5 billion cash and stock deal that would boost its presence in New England. This is the largest unassisted deal announcement in U.S. Banking...
20Aug2010 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial Second Quarter 2010 Earnings In-Line
Regional bank People’s United Financial Inc. (PBCT) announced second quarter 2010 operating earnings per share of 9 cents, which came in line with the Zacks Consensus Estimate. Earnings were up a penny after five consecutive quarters of reporting 8 cents per share. The...
18Jul2010 | vitalstocks | 0 comments | Continued(OCN) Ocwen Financial Analysts Downgrade to Neutral
Given the current sustainability factor, on Friday we downgraded Ocwen Financial Cor. (OCN) to Neutral from Outperform. Although the company’s first quarter earnings were a penny ahead of the Zacks Consensus Estimate, the results reflected a lackluster performance by Ocwen’s...
17May2010 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial Buys Massachusetts’ Butler Bank
In an attempt to expand its presence in greater Boston market, on Friday, People’s United Financial Inc. (PBCT) announced the purchase of the deposits and banking operations of the Massachusetts-based Butler Bank from Federal Deposit Insurance Corporation (FDIC). According...
19Apr2010 | vitalstocks | 0 comments | Continued(PBCT) U.S. Regulators Close Eight More Banks on Friday – 2010 Tally Hits Fifty
U.S. regulators on Friday shuttered eight more banks in Florida, California, Massachusetts, Michigan and Washington, pushing up U.S. bank failures to 50 so far in 2010. This compares to a total number of bank failures of 140 in 2009, 25 in 2008 and only 3 in 2007. Although the...
19Apr2010 | vitalstocks | 0 comments | Continued(WFSL) Washington Federal Pases Estimates – Gains from Acquisition
Washington Federal’s (WFSL) second-quarter (ended March 31, 2010) earnings of 73 cents per share substantially surpassed the Zacks Consensus Estimate of 11 cents. Results were helped by significant gains from its acquisition of Horizon, a failed bank based in Bellingham, Washington...
18Apr2010 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial’s Earnings Report Meets Expectations
People’s United Financial Inc.’s (PBCT) first quarter 2010 operating earnings per share of 8 cents was flat with the Zacks Consensus Estimate as well as last quarter’s figure. Earnings was a cent higher from 7 cents in the prior-year quarter due to improvement in the net...
18Apr2010 | vitalstocks | 0 comments | Continued(PBCT) People’s United Financial Coverage Initiated at Neutral
Recently, we initiated coverage on People’s United Financial Inc. (PBCT) with a Neutral recommendation. The company’s fourth quarter earnings of 8 cents per share were in line with the Zacks Consensus Estimate. While commercial loan portfolio and deposits experienced growth,...
25Mar2010 | vitalstocks | 0 comments | Continued(WFSL) U.S. Treasury Sells Washington Federal Warrants
The Treasury announced Wednesday that it has received net proceeds of $15.4 million from the sale of warrants it obtained as part of its investment in Washington Federal Inc. (WFSL) through the Troubled Asset Relief Program (TARP) during the height of the financial crisis. In...
12Mar2010 | vitalstocks | 0 comments | Continued