Savings & Loans

(HCBK) Hudson City Bancorp Remains Neutral

On Apr 5, 2013, we reiterated our long-term recommendation on Hudson City Bancorp, Inc. (HCBK) at Neutral. Our decision rests on lower expenses and solid capital ratios. However, these positives were offset by a decline in both net...

18Apr2013 | | Comments Off on (HCBK) Hudson City Bancorp Remains Neutral | Continued

(COLB) Take a Look at Western Banks – Zacks Industry Rank Analysis

On March 14, 2013, I was looking for a strong candidate to flag in a top-down industry context.  

I came upon the Western U.S. Regional Banks.

It enjoys a high Zacks Industry Rank at #21, up +7 in the ranks from last week.  I decided to stop there.  Only...

2Apr2013 | | Comments Off on (COLB) Take a Look at Western Banks – Zacks Industry Rank Analysis | Continued

(COLB) Take a Look at Western Banks – Zacks Industry Rank Analysis

On March 14, 2013, I was looking for a strong candidate to flag in a top-down industry context.  

I came upon the Western U.S. Regional Banks.

It enjoys a high Zacks Industry Rank at #21, up +7 in the ranks from last week.  I decided to stop there.  Only...

24Mar2013 | | Comments Off on (COLB) Take a Look at Western Banks – Zacks Industry Rank Analysis | Continued

(HCBK) Hudson City Bancorp Maintained at Neutral

On January 7, we reiterated our Neutral recommendation on Hudson City Bancorp, Inc. (HCBK) based on its strong capital ratios and decline in interest expenses. However, the pressure on net interest income and net interest margin remained...

15Jan2013 | | Comments Off on (HCBK) Hudson City Bancorp Maintained at Neutral | Continued

(PBCT) People’s United Financial Prices Senior Notes

On Monday, Connecticut-based People’s United Financial Inc. (PBCT) announced the pricing of nearly $500 million worth of senior notes. The offering is anticipated to culminate on December 6, 2012, subject to customary closing...

7Dec2012 | | Comments Off on (PBCT) People’s United Financial Prices Senior Notes | Continued

(OCN) Ocwen Financial Gets Court Approval For Residential Capital Bid

On Monday, U.S. Bankruptcy Court in Manhattan approved Ocwen Financial Corp’s. (OCN) bid to acquire Residential Capital’s (ResCap) mortgage-servicing rights (MSRs) in collaboration with Walter Investment Management...

3Dec2012 | | Comments Off on (OCN) Ocwen Financial Gets Court Approval For Residential Capital Bid | Continued

(OCN) Ocwen Financial Wins Bid to Buy ResCap

Recently, Ocwen Financial Corp. (OCN) won a bid to acquire Residential Capital’s (ResCap) mortgage-servicing rights (MSRs) in collaboration with Walter Investment Management Corp. (WAC)...

6Nov2012 | | Comments Off on (OCN) Ocwen Financial Wins Bid to Buy ResCap | Continued

(OCN) Ocwen Financial to Enter Mortgage Lending Business

In a bid to expand its operations, Ocwen Financial Corp. (OCN) is preparing to foray into mortgage origination business. The company has signed a definitive agreement to acquire Homeward Residential Holdings Inc. – an integrated...

9Oct2012 | | Comments Off on (OCN) Ocwen Financial to Enter Mortgage Lending Business | Continued

(PFS) Bayer’s Stivarga Gains Approval

The HealthCare unit of Bayer (BAYRY) recently announced that the US Food and Drug Administration (FDA) has cleared its oncology candidate, Stivarga (regorafenib). The FDA approved Stivarga, an oral multi-kinase inhibitor, for use...

9Oct2012 | | Comments Off on (PFS) Bayer’s Stivarga Gains Approval | Continued

(OCN) Ocwen Financial Corporation Considers Yet Another Buy

After announcing a deal to acquire Homeward Residential Holdings Inc., Ocwen Financial Corp. (OCN) is now planning a $2.5 billion bid for Residential Capital’s (ResCap) mortgage-servicing rights (MSRs) in collaboration with Walter...

5Oct2012 | | Comments Off on (OCN) Ocwen Financial Corporation Considers Yet Another Buy | Continued

(PFS) Merck KGaA’s Erbitux Drug Disappoints in Trial

Merck KGaA (MKGAF) recently announced that Erbitux failed to achieve its primary endpoint in the phase III EXPAND trial, conducted in patients with advanced gastric cancer. Results showed that Erbitux plus cisplatin and capecitabine...

11Jul2012 | | Comments Off on (PFS) Merck KGaA’s Erbitux Drug Disappoints in Trial | Continued

(BRKL) Company News for April 19, 2012 – Corporate Summary

•    Virginia Commerce Bancorp, Inc. (NASDAQ:VCBI) reported first quarter earnings per share of $0.14, missing the Zacks Consensus Estimate of $0.17

•    Brookline Bancorp, Inc. (NASDAQ:BRKL)...

19Apr2012 | | Comments Off on (BRKL) Company News for April 19, 2012 – Corporate Summary | Continued

(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...

17Jan2012 | | 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...

28Nov2011 | | 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...

28Nov2011 | | 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...

24Oct2011 | | 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...

1Sep2011 | | 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...

8Jul2011 | | 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...

5Jul2011 | | 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...

30Jun2011 | | 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...

30Jun2011 | | 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...

29Jun2011 | | 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...

29Jun2011 | | 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)...

24Jun2011 | | 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...

23Jun2011 | | 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...

22Jun2011 | | 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...

29Mar2011 | | 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...

28Mar2011 | | 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...

7Jan2011 | | 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...

11Dec2010 | | 0 comments | Continued