Regional Banks

The “Golden Cross” is a major bullish technical indicator. It occurs when a stock's 50-day simple moving average crosses above its 200-day simple moving average. The “Golden Cross,” like most technical indicators, should never be used alone, but is a significant event to consider when evaluating a...

PNC Financial Services (NYSE: PNC), the Pennsylvania-based regional banking giant, may announce as early as Monday that it will acquire the retail banking business of Royal Bank of Canada (NYSE: RY) for $3.45 billion in cash and stock, Bloomberg News reported, citing sources with knowledge of the...

Cusick's Corner "Slump? I ain't in no slump...I just ain't hitting." That's a quote from Yogi Berra and if you talk to someone who is long, this is what the trader would most likely say. While the market did finally break the weekly losing streak, you can't ignore that we have seen some decent...

Preferred Bank (NASDAQ: PFBC) today announced that it had filed an amendment to its Amended and Restated Articles of Incorporation with the Secretary of State of the State of California to effect the previously announced one-for-five reverse stock split. The reverse stock split will take effect...

United Community Banks, Inc. (NASDAQ: UCBI) today announced that the 1-for-5 reverse stock split of its common stock and non-voting common stock will become effective as of approximately 5 p.m. Eastern time on June 17, 2011 pursuant to an amendment to United's articles of incorporation filed with...

According to Keefe, Bruyette & Woods, Wintrust Financial (NASDAQ: WTFC) coverage is initiated at Outperform. Keefe, Bruyette & Woods said that, for the better part of two decades, Wintrust has adhered to a prudent growth strategy, appropriately balancing, in our view, the projected...

According to Keefe, Bruyette & Woods, First Commonwealth Financial (NYSE: FCF) is upgraded to Outperform. Keefe, Bruyette & Woods said that the recent pullback in share price has resulted in shares trading below tangible book value, an attractive entry point. “While the bank will most...

F.N.B. Capital Corporation, a banking subsidiary of F.N.B. Corporation (NYSE: FNB), today announced that it successfully exited its investment in the Scottdale, PA-based MLP Steel, LLC. In January 2008, F.N.B. Capital Corporation provided capital to Jim Philipkosky of MLP Capital Partners, LLC...

International Finance Corporation (IFC), the private-investment arm of the World Bank Group, reportedly will provide local-currency loans of USD 7 million to FINCA Azerbaijan and USD 6 million to FINCA Kyrgyzstan, two microfinance institutions (MFIs) that are members of US-based FINCA International...

According to reports in Reuters, Paulson & Co.'s Advantage Plus hedge fund is down around 20% for 2011 after losing 13% in the first two weeks of June. The fund was hit hard by the implosion of Sino-Forest (PINK:SNOFF), which has lost 83.66% in the last month, after a short-seller's report...

Shares of Synovus Financial Corp. (NYSE: SNV) are lower on the session by 0.47%, trading at $2.10. Overall put volume is now running at 4.37x the daily average, with 47% of all puts traded being purchases on the offer. 1,133 contracts have traded on the session so far. Synovus Financial Corp,...

Parkvale Financial Corporation (NASDAQ: PVSA) shares surged 79.55% to $19.75 at 9:45 am. F.N.B. Corporation (NYSE: FNB) announced its plans to acquire Parkvale Financial for $22.48 per share, or $130 million. NeurogesX Inc (NASDAQ: NGSX) jumped 47.37% to $3.92. NGSX reported the completion of...

Morgan Stanley is out with its report today on East West Bancorp (NASDAQ: EWBC), upgrading EWBC from Equal-weight to Overweight. In a note to clients, Morgan Stanley writes, "We are upgrading EWBC to OW. Its valuation does not reflect its much stronger-than-average expected loan growth, which...

Bank of America Merrill Lynch is out with its report today on Regions Financial (NYSE: RF), downgrading RF from Buy to Neutral. In a note to clients, Bank of America Merrill Lynch writes, "We are downgrading RF to Neutral from Buy. RF has underperformed materially of late, as investors sell banks...

Morgan Stanley upgraded its rating on East West Bancorp (NASDAQ: EWBC) to Overweight. In a research report published today, Morgan Stanley states, "Upgrading EWBC to Overweight. Its valuation does not reflect its much stronger-than-average expected loan growth, which should drive a premium...