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Friday, May 24, 7:11 AM Remember M&T Bank's (MTB) proposed purchase of Hudson City Bancorp (HCBK)? Regulators have put the merger on ice and it's sending a chill through the executive suites of other regional banks (KRE) who were considering doing deals, but now figure it's not worth the regulatory scrutiny. In the past, conditions such as we're in - slow economy, weak loan growth - have prompted waves of bank mergers (it's happening in community banks). "I am not buying another bank for as long as I can see," sees one unnamed top executive. Comment! [Financials, M&A]
Tuesday, February 26, 3:57 PM PowerShares has shuttered 13 ETFs, representing less than 1% of the issuer's AUM, as of today's close. Affected funds follow (with competing funds in parentheses): PIC (KIE, IAK, KBWP, KBWI), PYH, PJB (IAT, KBE, KRE, RKH, QABA, KRU, KRS, KBWR), PSTL (SLX), PLK, PWND (FAN), PMA, PKOL (KOL), PKN (NLR, NUCL, URA), PTO, PAO, PCA and CVRT. (pdf) Comment!
Friday, November 16, 2012, 11:17 AM It's dividends investors want more than buybacks and Regions Financial (RF), SunTrust (STI), and Zions (ZION) (among the regionals) are likely to have the largest hikes next year, says Credit Suisse. For buybacks, the cheaper the valuation the better, and KeyCorp (KEY) and Comerica (CMA) would benefit most. Comment! [Financials, Quick Ideas]
Tuesday, October 23, 2012, 11:20 AM There's litte upside for the regional banks over the coming year, says Credit Suisse as Q3 earnings make clear the continuing trend of slowing loan growth and narrowing net interest margins (Regions Financial today being the latest). It's not like the lenders are cheap either, collectively trading at 10.2X expected 2014 earnings. The KRE +21% Y/Y. Comment! [Financials, Quick Ideas]
Tuesday, September 11, 2012, 11:18 AM Trading at 11X 2014 EPS with weak revenue prospects and slim net interest margins, regional banks are modestly expensive, says Credit Suisse. Regions Financial (RF) and Huntington Bancshares (HBAN), however, both trade at significant valuation discounts to their peers and possibly with positive catalysts ahead. Chart: KRE vs. XLF and SPY over the last year. 3 Comments [Financials, Quick Ideas]
Monday, August 27, 2012, 9:49 AM More on the M&T/Hudson City deal: There isn't much action in other regional bank shares as M&T (MTB +4.8%) - by the market's verdict - picks itself up a steal, buying Hudson City (HCBK +16.2%) at about 80% of tangible book value. Hudson City finds itself in this vulnerable position by recent costly balance sheet restructurings and continuing barely-visible net interest margins. 3 Comments [Financials, On the Move, M&A]
Thursday, July 5, 2012, 3:02 PM The flow of mortgage putback requests from Frannie to the banks shows no sign of slowing, says Fitch, and it's likely to weigh on lenders' financial results. Previously, claim activity had focused on the TBTFs, but now, says Fitch, it's the regionals at risk (PNC, FHN, and STI have all boosted reserves due to claims recently). 2 Comments [Financials]
Thursday, June 28, 2012, 9:00 AM Regional banks (KRE, IAT) benefit, increasing their loan books by 9.8% as the TBTFs trimmed theirs by 4.9% in Q1. "We were able to pick up a lot of customers," thanks to the capital constraints of the big banks, says Daniel Cantara of First Niagara (FNFG). Comment! [Financials]
Monday, June 18, 2012, 3:24 AM Fed up with new regulations and weak loan demand, a growing number of small community banks are looking to sell themselves to larger rivals. More than 90 bank mergers have already been announced this year. 4 Comments [Financials]
Friday, June 8, 2012, 7:31 AM U.S. regional banks' earnings and share prices are set to fall thanks to record-low interest rates, say Citigroup analysts, adding to look for the bulk of the hit in 2013 and 2014. The call comes as others raise ratings on regionals because of their lack of international exposure. Lack of risky exposure is swell, but it doesn't speak to where profits will come from. Comment! [Financials]
Tuesday, March 13, 2012, 1:45 PM Not only is Keefe, Bruyette & Woods forecasting that the banking industry is set to see more banks jump into the M&A market as buyers as opposed to sellers, analysts with the firm are also naming names. Banks looking to catch a premium bid: ALNC, FDEF, OABC, TCBI, HTBK, and CFNL. Comment! [Financials, Quick Ideas]
Monday, March 12, 2012, 4:24 PM Keefe, Bruyette & Woods sees more banks entering the market as buyers than sellers in 2012, in a good sign for banks looking to find an acquirer willing to pay a premium price. Analysts with Keefe say that after a little over two months into the year, the pace of +$50M deals is more than double than that of last year. Comment! [Financials]
Friday, February 3, 2012, 1:57 AM Banks have been steadily releasing reserves against bad loans, which has boosted their earnings reports. But with loan-loss cushions now heading back to pre-crisis levels, some analysts believe banks will have to slow reserve releases, adding pressure to profits already hit by slower growth and tighter rules. 2 Comments [Earnings, Financials]
Wednesday, November 30, 2011, 4:58 AM Smaller U.S. banks which have held back on broad cost-cutting are now slashing jobs as they try to adapt to tougher competition, profit-squeezing regulations and poor loan volume. More than 2,500 banks cut their staff in Q3, with the cuts more likely to be part of a "new normal" than a temporary downsizing. 1 Comment [Financials]
Thursday, October 13, 2011, 10:23 AM Regional banks stocks (KRE -2.2%) join other financial stocks in pushing lower after JPMorgan's Q3 report sets the tone, and gives fodder for bearish forecasts for the sector. Decliners: FMBI -4.6%, ZION -4.9%, RF -4.6%, WTFC -4%. 1 Comment [Financials]
Monday, September 26, 2011, 12:56 PM Banks are set to earn more, according to a survey by Bankrate.com that finds lenders stepping up fees on checking accounts, ATM charges and account overdrafts. Add in to the mix that banks only pay 1.5% or less for deposits and are only selectively lending, begs the question: Is a boom in profits in line for banks that stick to a simple model? Comment! [Financials, Quick Ideas]

IAT iShares Dow Jones US Regional Banks ETF

IAT

iShares Dow Jones US Regional Banks ETF