Today - Tuesday, April 21, 2015
- Beginning today, Quicksilver cardholders will receive 20% back on all Uber rides through April 2016 when they pay using their Quicksilver or QuicksilverOne card, Also - for a limited time - eligible Capital One (NYSE:COF) cardholders who are new to the service will receive their first two rides free.
- Source: Press release
- Morgan Stanley is selling the assets held by Investa Property Group - Australia's 3rd-largest owner of downtown offices - and Blackstone (NYSE:BX) and Brookfield Asset Management (NYSE:BAM) are among those vying for the A$9B portfolio, according to The Globe and Mail.
- Previously: Morgan Stanley exiting Aussie property business (Feb. 18)
- Q1 income of $51.4M or $0.38 per share vs. $45.9M and $0.33 one year ago.
- Total average loans up 5.1% year-over-year. Average core deposits up 2.7%.
- Adjusted pre-tax, pre-credit costs income of $101M up 4.7% from a year ago.
- $59.1M of stock repurchased during quarter. Total bought back from October to yesterday of $160M, reducing the float by 6M shares or 4.3%.
- Net interest income of $203.3M up 1.4% Y/Y, with NIM of 3.28% down 11 basis points.
- Adjusted noninterest income of $65.1M up 3.3% Y/Y. Mortgage banking income up 32.5% from Q4, with 18.6% increase in production.
- Noninterest expense of $178.9M down 2.9% Y/Y.
- CET1 ratio of 10.78%.
- Earnings call is just underway.
- Previously: Synovus beats by $0.02, revenue in-line (April 21)
- SNV flat premarket
- Q1 net income of $189M or $0.35 per share vs. $194M and $0.35 one year ago.
- Commission and transaction fees of $350M vs. $374M one year ago.
- Net interest revenue of $149M vs. $146M. Insured deposit account fees of $205M vs. $202M. Investment product fees of $85M vs. $75M.
- Total operating expenses of $507M vs. $489M.
- Net new assets of $16.3B vs. $12.2B a year ago. Average client trades per day of 476,590 vs. 491,963.
- Pre-tax margin of 35.7% vs. 39%. ROE of 15.7% vs. 16.9%.
- Conference call at 8:30 ET
- Previously: TD Ameritrade misses by $0.01, misses on revenue (April 21)
- AMTD -1.7% premarket
- Q1 net income of $230.7M or $0.94 per share vs. $181.4M and $0.75 one year ago.
- Net interest income of $266.8M up 5% Y/Y, with NIM of 1.10% down two basis points. Trust investment and other servicing fees of $727.5M up 7%. Assets under custody of $6.09T up 6%. AUM of $960.1B up 5%.
- Conference call at 10 ET
- Previously: Northern Trust beats by $0.07, beats on revenue (April 21)
- NTRS +1.1% premarket
8:01 AM| Comment!
- Q1 FFO of $106.47M or $0.70 per share vs. $87.5M and $0.58 one year ago. Dividend is $0.47.
- Portfolio of 105M square feet was 93.2% occupied as of March 31 vs. 93% at the start of the year.
- Same-store operating income up 1.8% Y/Y on a cash basis, up 2.9% on a straight-line basis.
- Previously: Liberty Property Trust beats by $0.07, beats on revenue (April 21)
- LPT flat premarket
- Net interest income of $852M down 5% Y/Y, with NIM of 2.86% down from 3.22%.
- Noninterest income of $660M up 17% Y/Y. Mortgage banking net revenue of $86M up 21%. Originations of $1.8B vs. $1.7B.
- Noninterest expense of $923M down 3% Y/Y. Efficiency ratio of 61% improves from 64.9%.
- Average loans up 2%, with C&I lending up 3%, CRE and bankcard loans up 4% each.
- CET1 ratio of 9.62% Tangible book value per share of $14.87 up from $13.40 a year ago.
- Conference call at 9 ET
- Previously: Fifth Third Bancorp EPS in-line, beats on revenue (April 21)
- FITB flat premarket
- First Industrial Realty Trust (NYSE:FR) has the greatest chance of multiple expansion of all the industrial REITs in Stifel's coverage universe, says the team, upgrading to Buy from Hold. Also noted are recent portfolio sales and Stifel's belief that more will be completed at attractive cap rates.
- Previously: Industrial REITs on the move after Prologis purchase (April 20)
7:38 AM| Comment!
- Net interest income of $815M vs. $816M a year ago. NIM of 3.18% slips eight basis points.
- Noninterest income of $470M vs. $457M a year ago. Service charges on deposit accounts of $161M vs. $173M. Wealth Management of $98M vs. $89M. Mortgage income of $40M unchanged. Capital markets fee income and other of $20M vs. $13M.
- Noninterest expense from continuing operations of $905M vs. $817M a year ago. Professional, legal and regulatory expenses of $19M vs. $35M. Branch consolidation charges of $22M vs. $6M.
- Ending loans of $78B up 3% on production increase of 11%.
- Ending deposit balances of $97B up 4%.
- CET1 ratio of 10.9%. Tangible book value per share of $8.39 up from $8.18 at start of year, $7.73 one year ago. $102M of stock repurchased during quarter.
- Previously: Regions Financial EPS in-line, beats on revenue (April 21)
- RF flat premarket
- Q1 net income of $133.1M or $0.32 per share vs. $60M and $0.15 one year ago.
- Net premiums written of $234.5M vs. $218M a year ago. New insurance written of $9B vs. $5.2B. Persistency of 81.6% vs. 81.1%.
- Primary insurance in force of $166.1B vs. $157.9B a year ago. Percentage of loans delinquent, excluding bulk loans, of 5.98% down from 7.92%.
- Losses incurred of $81.8M vs. $122.6M a year ago.
- Conference call at 10 ET
- Previously: MGIC Investment beats by $0.05, beats on revenue (April 21)
- MTG +1.45% premarket
- Q1 operating income of $827M or $2.53 per share vs. $1.052B and $2.95 one year ago. Net written premiums of $5.897B flat. Operating ROE of 14.5% falls 330 basis points.
- Quarterly dividend is boosted by 11% to $0.61 per share, and another $5B of buybacks is authorized.
- Adjusted book value per share of $71.45 up 5% Y/Y.
- Underlying combined ratio of 90.3% deteriorates from 88.2% a year ago.
- Underwriting gain of $620M vs. $791M a year ago. Net investment income of $592M vs. $736M.
- Conference call at 9 ET
- Previously: The Travelers Companies misses by $0.01, misses on revenue (April 21)
- TRV -2% premarket
7:01 AM| Comment!
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