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North-East, Mid-Atlantic & Mid-West Regional Banks

North-East, Mid-Atlantic & Mid-West Regional Banks 12-29-16

Yields below are based on the Q4-16 dividends. Price/book ratios are based on the Q3-16 book values. The change in book compares Q3-15 to Q3-16. The change in the dividend compares Q4-15 to Q4-16. BB&T completed its acquisition of Susquehanna Bancshares effective Aug. 1, 2015. FirstMerit Corporation was acquired by Huntington Bancshares in August 2016.

    12-31-15 Current Dividend Current Div/EPS Pr/Bk YTD Percent Change LTM
Company Price Price /Quarter Yield Ratio Ratio Price Pr+Div 16 EPS Target Book Div
Associated Banc-Corp (NYSE:ASB) 18.75 24.70 0.12 1.94% 38.71 1.25 31.73 34.29 -5.34 23.48 3.52% 9.09%
BB&T Corporation (NYSE:BBT) 37.81 47.02 0.30 2.55% 43.17 1.41 24.36 27.53 -12.03 10.51 5.42% 11.11%
City Holding Co. (NASDAQ:CHCO) 45.64 67.60 0.43 2.54% 51.04 2.37 48.12 51.88 8.01 35.42 4.43% 2.38%
Comerica Incorporated (NYSE:CMA) 41.83 68.11 0.23 1.35% 35.11 1.52 62.83 65.03 -15.76 43.40 4.42% 9.52%
First Third Bancorp (NASDAQ:FITB) 20.10 26.97 0.14 2.08% 29.79 1.34 34.18 36.97 8.67 16.87 10.26% 7.69%
First Midwest Bancorp (NASDAQ:FMBI) 18.43 25.23 0.09 1.43% 29.75 1.71 36.90 38.85 -3.97 29.14 0.00% 0.00%
Fulton Financial Corp. (NASDAQ:FULT) 13.01 18.80 0.10 2.13% 43.01 1.53 44.50 47.58 8.14 33.61 5.49% 11.11%
Huntington Bancshares (NASDAQ:HBAN) 11.06 13.22 0.08 2.42% 44.44 1.54 19.53 22.42 -20.00 13.50 10.41% 14.29%
MB Financial (NASDAQ:MBFI) 32.37 47.23 0.19 1.61% 34.70 1.50 45.91 48.25 0.46 23.97 20.50% 11.76%
M&T Bank Corporation (NYSE:MTB) 121.18 156.43 0.70 1.79% 35.67 1.60 29.09 31.40 -8.51 10.22 11.18% 0.00%
NBTB Bancorp (NASDAQ:NBTB) 27.88 41.88 0.23 2.20% 51.11 2.01 50.22 53.52 2.27 30.91 2.76% 4.55%
Northern Trust Corp, (NASDAQ:NTRS) 72.09 89.05 0.38 1.71% 35.35 2.36 23.53 25.63 0.94 13.20 4.08% 5.56%
Old National Bancorp. (NYSE:ONB) 13.56 18.15 0.13 2.87% 50.98 1.34 33.85 37.68 -2.86 16.71 5.43% 8.33%
Synovus Financial Corp. (NYSE:SNV) 32.38 41.08 0.12 1.17% 25.26 1.79 26.87 28.35 0.53 19.30 2.64% 20.00%
US Bancorp (NYSE:USB) 42.67 51.37 0.28 2.18% 34.57 2.07 20.39 23.01 -5.26 10.16 7.83% 9.80%
Valley National Bancorp (NASDAQ:VLY) 9.85 11.64 0.11 3.78% 69.84 1.38 18.17 22.64 -8.70 4.31 4.07% 0.00%
Average         2.11% 40.78 1.67 34.38 37.19 -3.34 20.92 6.40% 7.82%
The KBE [the Bank EFT] is up 28.46% year to date - and with dividends is up 30.25% year to date.
With the 10 Treasury at 2.42% and the sector average yield on Q4-16 dividends at 2.11% - the spread is -31 basis points.

Banks Price/EPS Ratios 12-30-16

  EPS / Share % EPS Growth Price/EPS 16 EPS Range
Co. 2013 2014 2015 2016 2017 13-14 14-15 15-16 16-17 2015 2016 2017 High Low Range
ASB 1.10 1.16 1.19 1.24 1.38 5.45 2.59 4.20 11.29 20.76 19.92 17.90 1.26 1.21 4.03%
BBT 2.89 2.73 2.59 2.78 3.11 -5.54 -5.13 7.34 11.87 18.15 16.91 15.12 2.85 2.71 5.04%
CHCO 3.06 3.38 3.53 3.37 3.34 10.46 4.44 -4.53 -0.89 19.15 20.06 20.24 3.39 3.35 1.19%
CMA 3.00 3.16 2.92 2.62 3.90 5.33 -7.59 -10.27 48.85 23.33 26.00 17.46 2.97 2.44 20.23%
FITB 2.02 1.66 2.01 1.88 1.75 -17.82 21.08 -6.47 -6.91 13.42 14.35 15.41 1.93 1.58 18.62%
FMBI 1.06 0.92 1.13 1.21 1.39 -13.21 22.83 7.08 14.88 22.33 20.85 18.15 1.24 1.14 8.26%
FULT 0.83 0.84 0.85 0.93 0.98 1.20 1.19 9.41 5.38 22.12 20.22 19.18 0.94 0.92 2.15%
HBAN 0.72 0.72 0.81 0.72 0.95 0.00 12.50 -11.11 31.94 16.32 18.36 13.92 0.84 0.62 30.56%
MBFI 1.79 1.31 2.02 2.19 2.62 -26.82 54.20 8.42 19.63 23.38 21.57 18.03 2.23 2.15 3.65%
MTB 8.38 7.45 7.18 7.85 8.61 -11.10 -3.62 9.33 9.68 21.79 19.93 18.17 8.87 7.85 12.99%
NBTB 1.65 1.71 1.69 1.80 1.86 3.64 -1.17 6.51 3.33 24.78 23.27 22.52 1.82 1.79 1.67%
NTRS 3.00 3.28 3.90 4.30 4.71 9.33 18.90 10.26 9.53 22.83 20.71 18.91 4.35 4.25 2.33%
ONB 1.00 0.95 1.00 1.02 1.06 -5.00 5.26 2.00 3.92 18.15 17.79 17.12 1.06 0.94 11.76%
SNV 0.98 1.33 1.63 1.90 2.17 35.71 22.56 16.56 14.21 25.20 21.62 18.93 2.01 1.86 7.89%
USB 3.00 3.08 3.15 3.24 3.44 2.67 2.27 2.86 6.17 16.31 15.85 14.93 3.33 3.16 5.25%
VLY 0.63 0.59 0.42 0.63 0.68 -6.35 -28.81 50.00 7.94 27.71 18.48 17.12 0.64 0.61 4.76%
Average           7.59 6.35 11.93 20.98 19.74 17.69