Company Overview and News

59
Bank Stock Roundup: Economic Growth Inspires Optimism, WFC & BofA in Focus

2018-09-21 zacks
Over the last five trading days, major banks’ rally continued on expectation of interest rate hike this month. The rate hike will translate into top-line expansion for banks, leading to improved results in the quarters ahead. Further, given the growth in economy, low unemployment rate and healthy consumer sentiment, the demand for loans and other related products of banks are expected to rise. However, imposition of tariffs on $200 billion worth of Chinese goods next week could escalate trade war tensions, impacting consumers and increasing inflation.
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5
Fifth Third's MB Financial Buyout Approved By Shareholders

2018-09-21 zacks
Fifth Third Bancorp’s (FITB - Free Report) plan to acquire Chicago based MB Financial, Inc. (MBFI - Free Report) has gained steam, after MB Financial’s common shareholders accorded their assent to the agreement. The deal is now subject to customary closing conditions, which includes certain regulatory approvals, and is expected to complete by the first quarter of 2019. Fifth Third’s shares have gained 3.
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5
MB Financial, Inc. Receives Necessary Stockholder Approvals for Merger with Fifth Third Bancorp

2018-09-18 globenewswire
CHICAGO, Sept. 18, 2018 (GLOBE NEWSWIRE) -- MB Financial, Inc. (the “Company”) (NASDAQ: MBFI) announced today that it received the requisite approvals of its common stockholders for the Company’s pending merger with Fifth Third Bancorp (“Fifth Third”) at a special meeting of the Company’s stockholders held today. Detailed voting results will be provided in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission within the next four business days.
MBFI FITB MBFIP FITBI

5
MB Financial, Inc. Announces Schedule for Third Quarter 2018 Earnings Release

2018-08-23 globenewswire
CHICAGO, Aug. 23, 2018 (GLOBE NEWSWIRE) -- MB Financial, Inc., (Nasdaq: MBFI) today announced it expects to release its third quarter 2018 earnings at approximately 6:00 a.m. Eastern Time on Tuesday, October 23, 2018. In light of the pending merger with Fifth Third Bancorp, the Company will not be hosting an earnings call.
MBFI FITB MBFIP FITBI

16
JPMorgan to Lay Off Employees in Asset Management Division

2018-08-23 zacks
Following an internal review, JPMorgan (JPM - Free Report) intends to terminate nearly 100 employees in its Asset Management division. This was first reported by Wall Street Journal. Later on, the bank’s spokeswoman, Kristen Chambers confirmed the news. In an e-mail she said, “We routinely review our coverage model to ensure appropriate staffing levels across a variety of functions. Any reductions will be relatively small and will not affect our continued investment in client coverage and our business.
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12
Fifth Third (FITB) Displays Revenue Strength: Time to Hold?

2018-08-23 zacks
The Finance sector turned out to be one of the best performers in the April-June quarter. Specifically, benefits from a stabilizing economy and improving interest-rate scenario have well positioned the banking industry. Also, lower commercial tax rates are likely to boost banks’ profitability further. In addition, relieving banks from some of the stringent requirements of the Dodd-Frank Act has made the companies optimistic of future earnings growth and raised investor sentiment as well.
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5
Comerica: A Good Play On Higher Interest Rates

2018-08-21 seekingalpha
Comerica (CMA) is one of the banks with higher asset sensitivity to interest rates, being therefore a very good growth play within the banking sector right now.
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15
US Financial 15 Split Corp. Preferred Dividend Declared

2018-08-20 globenewswire
TORONTO, Aug. 20, 2018 (GLOBE NEWSWIRE) -- US Financial 15 Split Corp ("US Financial 15") declares its monthly distribution of $0.04016 for each Preferred share, or 5.25% annually based on the previous month end net asset value. Distributions are payable September 10, 2018 to shareholders on record as at August 31, 2018.
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9
U.S. banks teach financial literacy with hands-on experience

2018-08-16 reuters
NEW YORK, Aug 16 (Reuters) - Last year, Abbey Jones’ high school routine had a twist.
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6
Citizens Financial Group: Quickly Becoming A Top Performer

2018-07-27 seekingalpha
Citizens Financial Group posted a solid quarter, beating EPS estimates and its revenue coming in line with estimates.
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5
These 4 Stocks Boast Superb Earnings Acceleration

2018-07-26 investorplace
Constant earnings growth captivates almost everyone, right from the top brass to research analysts. This is because earnings are a measure of the money a company is making. Notably, earnings are essentially revenues that the company generates after deducting the cost of production over a given period of time.
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5
Webster Financial (WBS) Tops Q2 Earnings & Revenue Estimates

2018-07-20 zacks
Shares of Webster Financial (WBS - Free Report) climbed 2% after the company delivered a positive earnings surprise of 5.7% in second-quarter 2018. Adjusted earnings per share of 92 cents surpassed the Zacks Consensus Estimate of 87 cents.
USB WBS WBSFW FITB FITBI BXS

5
Signature Bank (SBNY) Q2 Earnings Beat, Expenses Decline

2018-07-20 zacks
Signature Bank’s (SBNY - Free Report) second-quarter 2018 adjusted earnings per share of $2.82 surpassed the Zacks Consensus Estimate of $2.80. Also, it compares favorably with $2.21 earned in the prior-year quarter. Shares of Signature Bank lost 5% in full day trading session post its earnings release, reflecting investors’ concern over contracting net interest margin and decline in fee income.
USB SBNY SBNYW FITB FITBI BXS

6
Citizens Financial (CFG) Q2 Earnings Beat, Revenues Increase

2018-07-20 zacks
Riding on higher revenues, Citizens Financial Group (CFG - Free Report) delivered a positive earnings surprise of 2.3% in second-quarter 2018. Earnings per share of 88 cents topped the Zacks Consensus Estimate of 66 cents.
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