Fri, Feb. 21, 12:35 PM
- A couple of acquisitive banks rate upgrades to Buy today, with Sandler O'Neill boosting Old National Bancorp (ONB +2.7%) and BB&T lifting First Financial Holdings (SCBT +2.7%).
- "It's tough to break old habits," wrote SA Pro's Stephen Rosenman in a bearish essay Old National one month ago. The bank has been overpaying for acquisitions for decades and can't seem to stop.
Tue, Jan. 28, 2:34 PM
- Buy the dip in First Financial Holdings (SCBT -1.7%) says Wunderlich, reiterating its Buy rating and $75 price target post-earnings. "The miss was primarily due to lower revenue from acquired loans resulting from faster-than-expected run-off and pay down coupled with a lower yield on acquired loans."
- Management is being deliberate, but causing expense savings to lag the decline in acquired loans, but the savings will come as the year progresses. "Our confidence in SCBT's management team remains high, and we believe current levels offer an attractive entry point for small cap bank investors."
Oct. 29, 2013, 9:40 AM
Aug. 8, 2013, 1:04 PM
- "We have seen a better economy, we saw better credit growth, but now we are seeing better loan growth," says KBW's Jeff Harralson, bullish on the regional and community banking sectors (KRE, KBWR). "We're seeing the first hints of banks beginning to raise the loan rates ... very positive for their earnings."
- Regionals are generally considered those with less than $50B in assets, community banks are those with less than $10B.
- Dick Bove agrees, with Regions Financial (RF), SunTrust (STI), and BB&T (BBT) his favorites in the sector..
- "It's a credit recovery story that finally turned the corner," says RayJay's Michael Rose, noting United Community Banks (UCBI) of northern Georgia as one with credit issues but room to grow.
- Don't forget M&A activity, adds Harralson, noting both PacWest Bancorp (PACW) and CapitalSource (CSE) jumped on the day of their merger announcement. Others that might benefit from deals are SCBT Financial (SCBT) of South Carolina and Prosperity Bancshares (PB) of Houston.
Jul. 26, 2013, 7:44 AM
Jul. 26, 2013, 7:34 AM
Apr. 26, 2013, 9:18 AM
Apr. 26, 2013, 7:23 AM
Jan. 31, 2013, 9:38 AM
Jan. 31, 2013, 9:17 AM
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