All Posts Tagged With: "PNC"
(BAC) A New Housing Foreclosure Mess?
Are the major banks looking at housing troubles and billions of dollars of losses yet again? That is what a new report from the Congressional Oversight Panel seems to warn.
According to the report, the chaos resulting from foreclosure paperwork flaws could result in...
(BAC) Bank of America and PNC Financial Services Group Sell BlackRock Stake
Bank of America Corporation (BAC) and PNC Financial Services Group Inc. (PNC) sold $8.3 billion of stock in the world’s largest money...
(AKS) Company News for November 9, 2010 – Corporate Summary
• Chevron (NYSE:CVX) announced plans to buy Atlas Energy (NASDAQ:ATLS) for $4.3 billion, or $43.35 per share
• Bank of America (NYSE:BAC) and PNC (NYSE:PNC) sold $8.3 billion of BlackRock (NYSE:BLK) shares in a secondary offering priced at $163 per share, a 3.6%...
(MCO) Moody’s Investors Service Chops Ratings of Ten Banks
Moody’s Investors Service, the ratings arm of Moody’s Corp. (MCO), has lowered the ratings of 10 banks earlier this week on lower expectations for governmental support for these banks.
Banks...
(AET) Company News for November 3, 2010 – Corporate Summary
• WellPoint (NYSE:WLP) reported estimate-topping third quarter earnings of $1.74 a share, up from Zacks estimates of $1.58, on revenues of $14.33 billion, above Zacks estimates of $14.22 billion
• Aetna (NYSE:AET) topped projections with third quarter results...
(BAC) Bank Ratings Reduced Under New U.S. Federal Deposit Insurance Corporation Rule?
Fitch Ratings has placed the ratings of a number of major banks under review for possible downgrade following a new rule proposed by the U.S. Federal Deposit Insurance Corporation (FDIC). Recently, the board of directors of FDIC has voted to approve the rule that details the...
(JPM) Regulators Close Three More Banks – U.S. Bank Failures Rise to 132 in 2010
Bank failures continue unabated as the U.S. regulators closed down three more banks on Friday. Out of the three failed banks, two were based in Missouri and one in Kansas. This brings the total number of bank failures to 132 so far in 2010, compared to 140 in 2009, 25 in 2008...
(JPM) JPMorgan Chase & Company Beats The Street!
JPMorgan Chase & Company’s (JPM) third quarter earnings came in at $1.01 per share, substantially ahead of the Zacks Consensus Estimate of 91 cents. Results also soared from the earnings of 82 cents...
(BAC) Short-Sighted Foreclosure Plans Are Backfiring Now
In the rush to get out of the foreclosure crisis, have we dug a bigger hole for ourselves? The biggest lenders have already discovered enough paperwork flaws to suspend their foreclosure processing. As a precautionary measure, lawmakers have asked several other lenders to...
(JPM) U.S. Bank Failures in 2010 Climb to 129
U.S. regulators on Friday shuttered two more banks in Florida and Washington, pushing up the figure to 129 so far in 2010. This compares with a total number of 140 bank failures in 2009, 25 in 2008 and just 3 in 2007.
While the bigger banks benefited greatly from the...
(JPM) U.S. Bank Failures Climb to 127 in 2010
Bank failures continue unabated as the U.S. regulators closed down two more banks in Florida and Washington on Friday, pushing up the figure to 127 so far in 2010. This compares with a total number of 140 bank failures in 2009, 25 in 2008 and just 3 in 2007.
While the...
(BBT) BB&T to Reclassify Non-performing Loans
On Tuesday, while speaking at Barclays Global Financial Services Conference, BB&T Corp.’s (BBT) chief executive officer (CEO) Mr. Kelly King stated that the company will reclassify more...
(JPM) U.S. Bank Failure Tally Hits 119 in 2010 – Horizon Bank Fails
Following a lull in bank failures for the last week of August and the first week of September, U.S. regulators last Friday shuttered Bradenton, Florida-based Horizon Bank, pushing up U.S. bank failures to 119 so far in 2010. This compares with a total number of 140 bank failures...
(JPM) U.S. Federal Deposit Insurance Corporation’s Problem Bank List Grows – More Banks Go Bust
According to a government report released on Tuesday, the number of banks on the Federal Deposit Insurance Corporation’s (FDIC) list of problem institutions in the second quarter grew to 829 from 775 in the previous quarter and 416 in the year-ago quarter. This is the highest...
(WABC) U.S. Economy Hits 118 Bank Failures in 2010
The ongoing economic volatility took its toll on a few more banks last week. Eight more banks including ShoreBank, a big community bank based in Chicago, were shuttered by the U.S. regulators on Friday. This takes the total number of bank failures to 118 so far in 2010, compared...
(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...
(BAC) Bank of America Announces Plan to Reduce BlackRock Holding Stake
On Sunday, the Wall Street Journal reported that Bank of America Corporation (BAC) is planning to sell its 34.1% (64.7 million common and preferred shares) stake in BlackRock Inc....
(JPM) U.S. Bank Failures in 2010 Now Total 110
U.S. regulators on Friday shuttered Palos Heights, Illinois-based Palos Bank and Trust Company, pushing up U.S. bank failures to 110 so far in 2010. This compares with 140 bank failures in 2009, 25 in 2008 and only 3 in 2007.
Although the economy is showing signs of...
(C) Citigroup Raises Long-Term Debt Estimates
Citigroup Inc. (C) has raised its estimates of long-term debts for full year 2010, according to a recent second quarter 2010 results filing with the Securities and Exchange Commission. This comes as part of...
(JPM) Ravenswood Bank Based in Chicago Fails – Becomes 109th U.S. Failure in 2010
U.S. regulators on Friday shuttered Chicago, Illinois-based Ravenswood Bank, pushing up U.S. bank failures to 109 so far in 2010. This compares with a total number of 140 bank failures in 2009, 25 in 2008 and only 3 in 2007.
Although the economy is showing signs of...
(C) Citigroup Raises $3 Billion from Notes Sale
Citigroup Inc. (C) sold $3 billion of notes earlier this week. The company conducted the sale in two parts. The first tranche was $2.25 billion of new notes due on August 9, 2020, with a coupon rate of 5.375%....
(PNC) PNC Financial Services Group Gains $750 Million in Note Sale
PNC Financial Services Group Inc.’s (PNC) subsidiary, PNC Funding Corp., has raised $750 million by selling senior notes. The notes carry a coupon rate of 4.375% and mature on August 11, 2020. The offer...
(MCO) Rating Outlook Falls for Big Banks
The rating outlooks for big banks have been lowered by Moody’s Investor Service, a part of Moody’s Corporation (MCO). The rating agency has tempered its outlook for Bank of America Corporation...
(JPM) U.S. Bank Failures in 2010 Climbs to 90
Bank failures continue unabated as the U.S. regulators closed down four more banks on Friday. Out of the four failed banks, two were based in Maryland and one each in Oklahoma and New York. This brings the total number of bank failures to 90 so far in 2010, compared to 140...
(PNC) PNC Financial Services Group Report Runs Ahead Of Estimates
PNC Financial Services Group Inc.’s (PNC) second-quarter net income of $1.47 per share was substantially ahead of the Zacks Consensus Estimate of $1.26 per share. Results also compare favorably...
(JPM) JPMorgan Slashes Loan Rates For Small Businesses Hiring People
In an effort to motivate small businesses and to reduce unemployment level, JPMorgan Chase & Co. (JPM) on Tuesday started a new plan to slash loan rates on small businesses, who decide to hire new employees.
JPMorgan...
(BK) BNY Mellon Awarded Beijing License By China Banking Regulatory Commission
On Monday, BNY Mellon Corporation (BK) got the authorization from China Banking Regulatory Commission (CBRC) to open a banking branch in Beijing to provide services to the company’s institutional clients.
The...
(BP) 2010 U.S. More Bank Failures Hit 86
The ongoing economic volatility has taken its toll on a few more banks last week. On Friday, three more were shuttered by U.S. regulators. These three banks were based in Florida, Georgia and New Mexico. The total number of bank failures goes up to 86 so far in 2010, compared...
(JPM) In 2010 U.S. Bank Failures Rise to 83
U.S. regulators on Friday shuttered Reno, Nevada-based Nevada Security Bank, pushing up U.S. bank failures to 83 so far in 2010. This compares with a total number of 140 bank failures in 2009, 25 in 2008 and only 3 in 2007.
Although the economy is showing signs of...
(BK) Bank of New York Mellon Sells $650 Million of Senior Notes
Last Friday, the global financial services company, Bank of New York Mellon Corp. (BK) sold $650 million of senior notes. The medium term notes are due in June 2015. The interest on notes, which carry a coupon...