Company Overview and News
The long-time demand of banks to scale back stringent regulations is finally a reality. The House passed a crucial bill easing some provisions of the 2010 Dodd-Frank Act that were put in place as safeguard against repeat of the 2008 financial crisis. The House passed the bill on Tuesday backed by majority voting of 258 to 159, promising it to be beneficial for small and mid-sized banks. It would now be presented to President Donald Trump for signing, with the Senate already having passed the legislation in March.
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Welcome to the Fiserv 2018 First Quarter Earnings Conference Call. All participants will be in listen-only mode until the question-and-answer session begins following the presentation. As a reminder, today's call is being recorded.
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SVB Financial Group’s (SIVB - Free Report) first-quarter 2018 earnings of $3.63 per share surpassed the Zacks Consensus Estimate of $3.13. Also, the figure compared favorably with the prior-year quarter’s earnings of $1.91 per share. Results were primarily driven by higher net interest income (NII) and non-interest income. Also, a fall in provision for credit losses was a positive for the company. Moreover, loan and deposit balances reflected strength.
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Shares of Prosperity Bancshares Inc. (PB - Free Report) lost nearly 2.4% following the release of its first-quarter 2018 results. Earnings of $1.07 per share lagged the Zacks Consensus Estimate of $1.14. However, the figure improved 8.1% on a year-over-year basis. Results were hurt by an increase in expenses and lower non-interest income along with continued margin pressure. Also, a significant increase in provision for credit losses was a negative factor.
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Zions Bancorporation’s (ZION - Free Report) earnings for the first quarter came in at $1.09 per share, comfortably surpassing the Zacks Consensus Estimate of 83 cents. Also, the figure compares favorably with the prior-year quarter’s earnings of 61 cents per share.
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Good day, ladies and gentlemen, and thank you for your patience. You joined Zions Bancorporation's First Quarter 2018 Earnings Results Conference Call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions] As a reminder, this conference may be recorded.
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Most banks that reported first-quarter 2018 results this week managed to record bottom-line improvement on the back of rising rates, lower taxes and improved trading activities. This also led to positive price movement for most bank stocks over the last five trading days. In addition to the benefits from higher interest rates, banks’ results mirrored a marginal upswing in loans. Moreover, the results show eased margin pressure.
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Performances of most of the banks that released their first-quarter 2018 results till now were decent. Driven by higher rates and modest improvement in loan balances, banks reported an increase in their net interest income. Also, given the rebound in trading activities during the quarter, trading revenues improved. However, lower mortgage income and dismal investment banking performance adversely impacted overall fee income to some extent.
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Zions Bancorporation (ZION - Free Report) is scheduled to announce first-quarter 2018 results on Apr 23, after market close. Its revenues and earnings for the quarter are projected to grow year over year. Last quarter, Zions’ earnings outpaced the Zacks Consensus Estimate. Higher revenues and benefit from provisions aided results. However, higher adjusted non-interest expenses was the undermining factor.
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Black Stone Minerals LP (NYSE:BSM) has 88 institutional investors and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These institutions hold a total of 29,058,530 shares. Largest shareholders include Ci Investments Inc., William Marsh Rice University, CI Global Investments Inc., Zions Bancorporation, Morgan Stanley, Goldman Sachs Group Inc, FMR LLC / Fidelity, Northwestern University, EdgePoint Investment Group Inc.
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Have you been eager to see how The Charles Schwab Corporation (SCHW - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this San Francisco-based brokerage company’s earnings release this morning: An Earnings Beat Schwab came out with earnings per share of 55 cents, beating the Zacks Consensus Estimate of 54 cents. Results benefited from improved revenues.
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Shares of First Republic Bank (FRC - Free Report) rose 1.29%, following the first-quarter 2018 results. The company registered a positive earnings surprise of 1.29%, reflecting higher revenues. Earnings per share came in at $1.13, outpacing the Zacks Consensus Estimate of $1.06. Moreover, the figure improved 11.9% from the year-ago tally. Revenues improved from the prior-year quarter. In addition, a considerable rise in loans and deposit balances was recorded.
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Investors in Zions Bancorporation (ZION - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the Apr 20, 2018 $37 Call had some of the highest implied volatility of all equity options today.
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2018-06-18 - Asif
Business Arrowhead develops medicines that treat intractable diseases by silencing the genes that cause them. Using a broad portfolio of RNA chemistries and efficient modes of delivery, Arrowhead therapies trigger the RNA interference mechanism to induce rapid, deep and durable knockdown of target genes. RNA interference, or RNAi, is a mechanism present in living cells that inhibits the expression of a specific gene, thereby affecting the production of a specific protein. Deemed to be one of the most important recent discoveries in life science with the potential to transform medicine, the discoverers of RNAi were awarded a Nobel Prize in 2006 for their work. Arrowhead’s RNAi-based therapeutics leverage this natural pathway of gene silencing. In fiscal 2017, Arrowhead refocused its resources on therapeutics that exclusively utilize the company’s Targeted RNAi Molecule (TRiMTM) platform technology. Therapeutics built on the TRiMTM platform have demonstrated high levels of pha...
2018-06-11 - Asif
Overview Proteon Therapeutics is a late-stage biopharmaceutical company focused on the development of novel, first-in-class pharmaceuticals to address the needs of patients with renal and vascular disease. The company's product candidate, vonapanitase, is a recombinant human elastase that Proteon Therapeutics is developing to improve vascular access outcomes in patients with chronic kidney disease, or CKD, undergoing or planning for hemodialysis, a lifesaving treatment that cannot be conducted without a functioning vascular access. The company believe data from its completed Phase 2 and Phase 3 clinical trials of vonapanitase support that a one-time, local application of investigational vonapanitase during surgical creation of a radiocephalic fistula for hemodialysis may improve fistula use for hemodialysis and secondary patency (time to fistula abandonment), thereby improving patient outcomes and reducing the burden on patients and the healthcare system. Arteriovenous fistu...
2018-06-11 - Asif
Overview Galena Biopharma is a clinical-stage biopharmaceutical company focused on novel cancer immunotherapeutics for a broad range of cancer indications. The company's lead product candidate, galinpepimut-S, or GPS, is a cancer i unotherapeutic agent licensed from Memorial Sloan Kettering Cancer Center, or MSK, that targets the Wilms tumor 1, or WT1, protein, which is present in 20 or more cancer types. Based on its mechanism of action as a directly immunizing agent, GPS has the potential as a monotherapy or in combination with other immunotherapeutic agents to address a broad spectrum of hematologic, or blood, cancers and solid tumor indications. Phase 2 clinical trials for GPS have been completed and Galena Biopharma has planned Phase 3 clinical trials (pending funding availability) for two indications, acute myeloid leukemia, or AML, and malignant pleural mesothelioma, or MPM. GPS is also in development as a potential treatment for multiple myeloma, or MM, and ovarian can...
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