Regional Banks

Cascade Financial Corporation (Nasdaq: CASB), the parent company of Cascade Bank, announced today that, at a special meeting of shareholders of Cascade Financial held on Tuesday May 31, 2011, the merger of Cascade Financial and Cascade Bank with and into Opus Bank was approved. A total of 8,339,771...

Wunderlich Securities reiterated its Buy rating on Home Bancshares (NASDAQ: HOMB). At the same time, Wunderlich raised its price target on the company's stock from $26 to $29. In a research report published today, Wunderlich states, "We reiterate our Buy rating on shares of Home BancShares (HOMB)...

Banner Corporation (Nasdaq: BANR) 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 Washington to effect the previously announced 1-for-7 reverse stock split. The reverse stock split will take effect...

In view of the unusual market activity in the common stock of Mercantile Bancorp (NYSE: MBR) on Friday, May 27, 2011, the NYSE contacted the Company in accordance with its usual practice. The Company stated that it is company policy not to comment on unusual market activity.

Shares of Ashland Inc (NYSE: ASH) jumped about 10% after the company announced its plans to buy specialty chemical maker International Specialty Products Inc for around $3.2 billion in cash. The deal is expected to close before the end of the fourth quarter and is likely to be immediately accretive...

Home BancShares (NASDAQ: HOMB) today announced it has recovered $4.4 million in charged off loans from a previously reported loss in the fourth quarter of 2010. Debt settlement arrangements of $4.4 million were completed last week with $3 million received from New York litigation and $1.4 million...

First BanCorp (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, today announced it has entered into a definitive investment agreement with private equity firm Thomas H. Lee Partners, L.P under which THL would purchase approximately $180 million of common stock of the Corporation at a...

Webster Financial Corporation (NYSE: WBS), the parent of Webster Bank, announced today that Glenn MacInnes has joined the company as executive vice president and chief financial officer. MacInnes will report to Jerry Plush, vice chairman and chief operating officer. Plush, who was promoted to...

US stock futures are higher this morning after the Memorial Day holiday. Futures on the Dow Jones Industrial Average jumped 115 points to 12,543.00 and futures on the S&P 500 stock index rose 13.40 points to 1,343.40. Nasdaq 100 futures gained 25.75 points to 2,358.25. US markets were closed...

Some of the stocks that may grab investor focus today are: Wall Street expects Lions Gate Entertainment Corp (NYSE: LGF) to report its FQ4 EPS at $0.18 on revenue of $400.07 million. LGF shares gained 1.01% to $6.00 in after-hours trading. Optimer Pharmaceuticals Inc (NASDAQ: OPTR) reported that...

Downward Bias in Linkedin Options Trading (CNBC) Options trading on Linkedin began last Friday and already there is a clear downward bias appearing. Already, strike prices for Linkedin Options are listed from $50 to $140 while expirations range from June 2011 all the way through February 2012. The...

Shares of CIT Group Inc. (NYSE: CIT) are up more than 2% today, after getting a positive mention at the Ira Sohn Conference on Wednesday. Jeff Aronson of Centerbridge Partners said he thinks shares could eventually fetch $65 in a buyout, or if the company were to acquire a retail bank, such as...

Jefferies is out with its report today on Huntington Bancshares (NASDAQ: HBAN), reiterating Buy. In a note to clients, Jefferies writes, "We reiterate our Buy rating on HBAN following mgmt meetings. In our view, HBAN should be able to grow pre-tax, pre-provision income directionally, even with...

Jefferies initiated coverage on Fulton Financial (NASDAQ: FULT) with a Hold rating and a price target of $12. In a research report published today, Jefferies stressed it believes Fulton is emerging strongly from the credit cycle but its growth will be limited by lack of investment opportunities....

Jefferies & Company has initiated Fulton Financial (NASDAQ: FULT) with a Hold rating and $12 price target.