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OptimumBank Holdings Commences 7.5M Share Private Placement
Monday, January 31, 2011 - 1:47pm | 108OptimumBank Holdings, Inc. (Nasdaq: OPHC) earlier today announced that it has commenced a private placement of 7,500,000 shares of the Company's common stock at a price of $2.00 per share. The completion of the offering is contingent upon the sale of a minimum of 5,000,000 shares, as well as...
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Puts Purchased on Synovus Financial Corp. (SNV)
Monday, January 31, 2011 - 12:42pm | 155Shares of Synovus Financial Corp. (NYSE: SNV) are lower on the session by 3.56%, currently trading at $2.681. The stock has been moving largely higher over the past two months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A...
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Synovus Trims Losses but Lags Ests - Analyst Blog
Monday, January 31, 2011 - 12:01pm | 1053Synovus Financial Corp.(SNV) reported fourth quarter 2010 loss of 23 cents per share, a significant improvement from the loss of 58 cents per share reported in the prior-year quarter and 25 cents in the prior quarter. However, the quarter's earnings missed the Zacks Consensus Estimate of a loss...
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Jefferies Raises SNV Target To $3 From $2.50
Monday, January 31, 2011 - 11:44am | 27Jefferies is raising its PT on Synovus Financial Corporation (NYSE: SNV) to $3 from $2.50. Synovus Financial Corporation currently trades at $2.65.
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Synovus Trims Losses but Lags Ests - Analyst Blog
Monday, January 31, 2011 - 11:30am | 1053Synovus Financial Corp.(SNV) reported fourth quarter 2010 loss of 23 cents per share, a significant improvement from the loss of 58 cents per share reported in the prior-year quarter and 25 cents in the prior quarter. However, the quarter's earnings missed the Zacks Consensus Estimate of a loss...
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Peoples Bancorp Reports Q4 EPS of $(0.14) vs. $.05
Monday, January 31, 2011 - 10:49am | 170Peoples Bancorp of North Carolina, Inc. (Nasdaq: PEBK) reported net income of $1.8 million for the year ended December 31, 2010, resulting in $0.33 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, as compared to $2.9 million, or $0.53 basic...
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Wunderlich Securities Reiterates Hold Rating on Sierra Bancorp (BSRR)
Monday, January 31, 2011 - 10:37am | 149Wunderlich Securities is out with a research report this morning, where it reiterates its Hold rating on Sierra Bancorp (NASDAQ: BSRR); it has an $11.00 price target on the stock. The WS analysts cited the company's recent earnings announcement, which was in-line to slightly below estimates....
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Treasury Department Announces Public Offering of 2.9M Warrants of Boston Private Financial Holdings
Monday, January 31, 2011 - 10:28am | 94The U.S. Department of the Treasury announced today that it has commenced a secondary public offering of 2,887,500 warrants to purchase the common stock of Boston Private Financial Holdings, Inc. (Nasdaq: BPFH). The proceeds of this sale will provide an additional return to the American taxpayer...
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Old National Bancorp Swings To 4th Qtr Profit (ONB)
Monday, January 31, 2011 - 10:18am | 209Evansville, Indiana-based Old National Bancorp (NYSE: ONB) released financial results on Monday morning. Old National Bancorp announced that it swung to a 4th quarter profit, with net income of $5.7 million, or 7 cents per share, compared to a net loss of $9.3 million, or 11 cents per share, a year...
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J.P. Morgan Raises Its PT on MB Financial (MBFI)
Monday, January 31, 2011 - 9:58am | 119J.P. Morgan is out with its report today on MB Financial (NASDAQ: MBFI), raising its price target on MBFI from $22 to $23. In a note to clients, J.P. Morgan writes, "With MBFI shares trading at 8.3x normalized EPS of $2.33, not only do the shares trade at a 20% discount to peers, but they also...
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11 Bank Failures in '11 - Analyst Blog
Monday, January 31, 2011 - 9:01am | 775The ongoing economic volatility took its toll on a few more banks last week. On Friday, four more were padlocked by U.S. regulators. These banks were based in Oklahoma, Wisconsin, Colorado and New Mexico. This takes the total number of bank failures to 11 so far in 2011, following 157 in 2010,...
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11 Bank Failures in '11 - Analyst Blog
Monday, January 31, 2011 - 8:34am | 775The ongoing economic volatility took its toll on a few more banks last week. On Friday, four more were padlocked by U.S. regulators. These banks were based in Oklahoma, Wisconsin, Colorado and New Mexico. This takes the total number of bank failures to 11 so far in 2011, following 157 in 2010,...
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JP Morgan Raises PT On MB Financial To $23
Monday, January 31, 2011 - 8:30am | 27JP Morgan has raised the price target on MB Financial (NASDAQ: MBFI) from $22 to $23 and maintains its Overweight rating.
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Wunderlich Downgrades SCBT Financial Corporation To Hold, PT To $32
Monday, January 31, 2011 - 8:21am | 29Wunderlich Securities has downgraded SCBT Financial Corporation (NASDAQ: SCBT) from Buy to Hold and has lowered the price target from $38 to $32.
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Popular Signs Letter of Intent to Sell Non-Performing Assets
Monday, January 31, 2011 - 8:18am | 77Popular, Inc. (Nasdaq: BPOP) announced that Banco Popular de Puerto Rico, its principal banking subsidiary, signed a non-binding letter of intent to sell approximately $500 million (book value) of construction and commercial real estate loans, approximately 75% of which are non-performing, to a...