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Stock Market & Financial Investment News

News Breaks
December 16, 2013
07:40 EDTHAFCHanmi Financial to acquire Central Bancorp
Hanmi Financial, the holding company for Hanmi Bank, announced today that it has entered into a definitive agreement to acquire Central Bancorp, parent of Texas-based United Central Bank. The combined company will have 51 banking offices and 2 loan production offices serving a broad range of ethnic communities in California, Texas, Illinois, New York, New Jersey, Virginia and Georgia. As of September 30, CBI had approximately $1.6B in assets, $700M in gross loans and $1.4B in deposits, and 24 branches across six states. Upon closing of the transaction, Hanmi will have approximately $4.3B in assets, $2.8B in gross loans, and $3.8B in deposits. Under the terms of the agreement, the total merger consideration payable to CBI common stockholders is $50 million in cash, subject to potential purchase price adjustments, representing approximately 62% of CBI's tangible book value as of September 30. The transaction is expected to close in the second half of 2014. Excluding one-time merger expenses, the transaction is expected to be immediately accretive to 2014 earnings and significantly accretive to 2015 earnings and beyond; and is expected to generate internal rate of return in excess of 20% for Hanmi shareholders.
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April 17, 2014
09:59 EDTHAFCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AcelRx (ACRX) initiated with a Buy at Canaccord... Acorda Therapeutics (ACOR) initiated with a Hold at Canaccord... Alcobra (ADHD) initiated with a Buy at Canaccord... Benefitfocus (BNFT) initiated with a Market Perform at William Blair... Cameron (CAM) initiated with a Buy at Gabelli... Covanta (CVA) initiated with an Outperform at Macquarie... Foundation Medicine (FMI) initiated with a Market Perform at William Blair... Golub Capital (GBDC) initiated with an Outperform at Raymond James... Hanmi Financial (HAFC) initiated with an Outperform at Raymond James... Jazz Pharmaceuticals (JAZZ) initiated with a Buy at Canaccord... Kronos Worldwide (KRO) initiated with a Reduce at SunTrust... Magnum Hunter (MHR) initiated with a Hold at Maxim... Norwegian Cruise Line (NCLH) initiated with a Buy at Longbow... Plum Creek Timber (PCL) initiated with an Outperform at RBC Capital... RF Micro Devices (RFMD) initiated with a Market Perform at BMO Capital... SanDisk (SNDK) assumed with an Overweight at Piper Jaffray... Skyworks (SWKS) initiated with a Market Perform at BMO Capital... TransEnterix (TRXC) initiated with a Buy at Sterne Agee... TriQuint (TQNT) initiated with a Market Perform at BMO Capital... WebMD (WBMD) initiated with an Outperform at William Blair.
April 16, 2014
16:57 EDTHAFCHanmi Financial initiated with an Outperform at Raymond James
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