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December 20, 2013
06:52 EDTFIBK, ZION, BBT, USB, RF, WALRegulators indicate smaller banks can hold some CDOs. NY Times reports
After Zions Bancorp took a charge to get rid of a CDO portfolio backed by trust-preferred securities to comply with the Volcker Rule, regulators said that other banks do not necessarily have to do the same, The New York Times reported last night. CDOs backed by trust-preferred securities are not automatically forbidden by the rule, the newspaper quoted regulators as saying. Reference Link
News For ZION;WAL;USB;FIBK;RF;BBT From The Last 14 Days
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April 21, 2014
16:16 EDTZIONZions Bancorp reports Q1 EPS 41c, consensus 42c
Reports Q1 gross loan and lease charge-offs were $20.8M, the lowest level since 2007, and net loan and lease charge-offs were 0.08% annualized of average loans and leases. The negative provision for loan losses was approximately $1M for Q1, compared to a negative provision of $31M for 4Q13. Tangible book value per common share improved by approximately 3% compared to the prior quarter, increasing to $24.53 from $23.88.
15:16 EDTRFNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 64c; United Technologies (UTX), consensus $1.27; McDonald's (MCD), consensus $1.24; Simon Property Group (SPG), consensus $2.24; Lockheed Martin (LMT), consensus $2.53; Bank of New York Mellon (BK), consensus 53c; Illinois Tool Works (ITW), consensus 98c; Travelers (TRV), consensus $2.16; Omnicom Group (OMC), consensus 79c; Pentair (PNR), consensus 73c; Harley-Davidson (HOG), consensus $1.08; Regions Financial (RF), consensus 20c; Genuine Parts Company (GPC), consensus $1.02; Xerox (XRX), consensus 24c; Carlisle (CSL), consensus 53c.
15:16 EDTWAL, ZIONNotable companies reporting after market close
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10:01 EDTBBTOn The Fly: Analyst Downgrade Summary
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07:18 EDTBBTBB&T downgraded at Oppenheimer
As noted earlier, Oppenheimer downgraded BB&T to Perform from Outperform. The firm cited valuation and its preference for universal banks over regional banks as reasons for the downgrade.
06:32 EDTBBTBB&T downgraded to Perform from Outperform at Oppenheimer
April 17, 2014
06:31 EDTUSBBig banks boosting their business lending, WSJ reports
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05:53 EDTBBTBB&T reports Q1 EPS 69c, consensus 70c
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April 16, 2014
09:33 EDTUSBU.S. Bancorp sees Q2 NIM declining
Says sees mortgage revenue rising slightly in Q2 due to seasonality.
09:32 EDTUSBU.S. Bancorp CEO says sees 2H14 better than 1H
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09:12 EDTUSBU.S. Bancorp says non-performing assets to remain stable in Q2
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07:21 EDTUSBU.S. Bancorp: Credit quality to remain 'relatively stable' in coming quarters
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07:20 EDTUSBU.S. Bancorp says expects to recommend Q2 dividend of 24.5c per share, up 6.5%
Says 24.5c per share dividend would be a 6.5% increase. Reports Q1 provision for credit losses $306M, net charge-offs $341M. Reports Q1 allowance for credit losses $4.5B. Reports Q1 net interest income $2.71B. Ratios at March 31, were: Basel III transitional: Common equity tier 1 capital ratio of 9.7%, Tier 1 capital ratio of 11.4%, Total risk based capital ratio of 13.5%; Common equity tier 1 capital to risk-weighted assets estimated for the Basel III fully implemented standardized approach of 9%.
07:17 EDTUSBU.S. Bancorp reports Q1 EPS 73c, consensus 73c
Reports Q1 revenue $4.81B, consensus $4.8B. U.S. Bancorp Chairman, President and CEO Richard K. Davis said, “Our first quarter earnings of $1.4 billion, or $.73 per diluted common share, demonstrated our Company’s ability to generate strong results in the face of a slow-growing and uncertain economy. Our industry-leading returns on average assets of 1.56 percent and average common equity of 14.6 percent, combined with our strong efficiency ratio of 52.9 percent, remain among the top performance ratios in our peer group. Our performance clearly reflects the advantage of our diversified business mix and disciplined expense management which has enabled us to withstand the revenue challenges facing our industry in this slow-growth economy. Average loan growth remained strong at 6.0 percent year-over-year and 1.3 percent on a linked quarter basis. Total loan and commitment growth continued to be an area of strength for the Bank, particularly highlighted by our commercial business, which grew loans by 8.5 percent year-over-year and 2.8 percent on a linked quarter basis. This growth demonstrates our ability to gain market share as customers choose to partner with us to expand their businesses when opportunities arise. Credit quality continued to be strong in the first quarter as net charge-offs declined 21.2 percent compared with the prior year and rose modestly on a linked quarter basis due to unusually high recoveries in the prior quarter. Nonperforming assets, excluding covered assets, fell by 1.0 percent and delinquencies also improved in the quarter. Overall credit quality is expected to remain relatively stable in the coming quarters."
April 15, 2014
15:19 EDTUSBNotable companies reporting before tomorrow's open
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April 14, 2014
08:32 EDTUSBU.S. Bancorp to acquire document custodian business from Ally Bank
U.S. Bancorp (USB) announced that its lead bank, U.S. Bank National Association, has entered into a definitive agreement to purchase the document custodian business of Ally Bank (ALLY). The acquisition of Ally’s document custodian business, which is expected to close early in the second quarter of 2014, will add up to 40 employees to U.S. Bank, one new service location in Waterloo, Iowa and increase documents under custody by 15%.
April 10, 2014
06:35 EDTUSBMobile banking presents opportunity and risks for banks, WSJ reports
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April 9, 2014
06:35 EDTUSBRegulators increase leverage ratio requirement for large banks, NY Times says
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06:27 EDTUSBBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link
06:24 EDTFIBKFirst Interstate upgraded to Overweight from Equalweight at Barclays
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