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Stock Market & Financial Investment News

News Breaks
May 14, 2014
08:46 EDTBAC, HBANHuntington Bancshares to purchase 13 Michigan branches from Bank of America
Huntington Bancshares Incorporated (HBAN) has agreed to purchase 13 Michigan branches from Bank of America (BAC), which follows a recent agreement between the companies for Huntington to purchase 11 other branches in the state. The agreement for the additional 13-branch purchase will fill in Huntington’s presence further in East Michigan. In addition to welcoming new branch colleagues, the cumulative acquisitions will result in approximately 40 new Huntington Michigan operations jobs, contributing to Huntington employment growth of more than 500 jobs in the state between 2011 and 2014. With the 13-branch acquisition, Huntington will purchase approximately $500M in deposits, for a deposit premium of 3.5 percent based on deposit balances at the time the transaction closes, which is expected to be in the second half of 2014. No loans are included in the purchase. Subject to the satisfaction of customary closing conditions, including regulatory approvals, this purchase agreement and Huntington’s previously announced agreement to purchase 11 branches in Saginaw and other markets includes nearly $1B of deposits. Furthermore, Huntington has engaged in a series of public-private partnerships with the state of Michigan and Michigan Economic Development Corporation since 2011, including the successful completion of a $2B statewide lending commitment to commercial and small businesses, and the launch of the Pure Michigan Micro Lending Initiative. Huntington is also in the process of successfully concluding a $100M Michigan affordable housing investment statewide commitment.
News For HBAN;BAC From The Last 14 Days
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January 30, 2015
09:35 EDTBACActive equity options trading
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January 29, 2015
11:19 EDTHBANHuntington Bancshares downgraded to Hold from Buy at Miller Tabak
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08:38 EDTBACAmeris Bancorp announces private placement of common stock
Ameris Bancorp (ABCB)announced the sale of shares of the company's common stock at a price of $22.50 per share to institutional accredited investors through a private placement. The company has received commitments for the sale of up to 5,320,000 shares and is in the process of closing the issuance, which is expected to be completed by January 30. The company expects to receive net proceeds from the private placement of approximately $114.5M, which it intends to use, in part, to fund the cash consideration for its recently announced acquisitions of Merchants & Southern Banks of Florida, Inc. and eighteen Bank of America (BAC) branches located in North Florida and South Georgia.
January 28, 2015
16:56 EDTBACFederal judge says FOREX manipulation case to proceed, Reuters reports
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January 26, 2015
12:49 EDTBACFederal Reserve discloses plan to improve U.S. payment system, WSJ reports
The Federal Reserve released a plan that would improve the U.S. payment system, saying the current outlook, which covers banking, checking, credit cards and online transactions is fragmented and outdated with respect to new technologies that may harm consumers, the Wall Street Journal reports. The Federal Reserve invited banks, credit card companies and payment processors to coordinate efforts. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
January 23, 2015
07:23 EDTBACBass does not expect large U.S. banks to break up
Publicly traded companies in the space include Bank of America (BAC), Citi (C), JPMorgan (JPM), and Wells Fargo (WFC). Kyle Bass of Hayman Capital continues speaking on CNBC.
06:42 EDTBACU.S. banks preparing for prolonged low bond yields, Reuters says
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January 22, 2015
16:00 EDTBACOptions Update; January 22, 2015
iPath S&P 500 VIX Short-Term Futures down 2.13 to 31.32 Option volume leaders: AAPL TSLA TWTR AMZN FB FXCM AVP BAC according to Track Data.
09:32 EDTHBANHuntington Bancshares sees positive operating leverage in 2015 ex-items
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09:31 EDTHBANHuntington Bancshares reports Q4 net interest margin 3.18%
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09:28 EDTHBANHuntington Bancshares sees long-term 'through the cycle' revenue growth of 4%-6%
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09:24 EDTHBANHuntington Bancshares reports Q4 revenue $714.1M, consensus $721M
Reports Q4 total revenue on Fully Taxable Equivalent Basis of $714.1M.
07:32 EDTHBANHuntington Bancshares reports Q4 EPS 19c, consensus 19c
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January 21, 2015
15:27 EDTHBANNotable companies reporting before tomorrow's open
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January 20, 2015
09:38 EDTBACActive equity options trading
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08:54 EDTBACBank of America upgraded to Conviction Buy from Buy at Goldman
Goldman added Bank of America to the Conviction Buy List with an $18 price target following recent underperformance. The firm continues to believe shares to will be driven by better than expected top-line growth, accelerated capital returns, and a business shift towards less capital intensive earnings streams.
07:28 EDTBACTreasury Institute for Higher Education to hold a symposium
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