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Sandy Spring Bancorp Repurchases Warrant From the U.S. Treasury
Thursday, February 24, 2011 - 3:31pm | 71Sandy Spring Bancorp, Inc. (Nasdaq: SASR), parent company of Sandy Spring Bank, today announced that it has repurchased the warrant issued to the U.S. Department of the Treasury on December 5, 2008 in connection with Bancorp's participation in the TARP Capital Purchase Program. The 10-year warrant...
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Morning Market Movers (CRFN, ROYL, TORM, KAI)
Thursday, February 24, 2011 - 10:57am | 123Crescent Financial Corporation (NASDAQ: CRFN) jumped 89.40% to $4.11 at 9:55 am. Piedmont Community Bank Holdings announced its plans to invest $75 million in CRFN. Royale Energy Inc (NASDAQ: ROYL) shares advanced 37.96% to $4.93. ROYL received regulatory approval to initiate production on the...
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Benzinga's Top Pre-Market NASDAQ Gainers (CRFN, PCLN, SINA, ERIC)
Thursday, February 24, 2011 - 9:15am | 118Crescent Financial Corporation (NASDAQ: CRFN) rose 87.10% to $4.06 in the pre-market session. Piedmont Community Bank Holdings announced its plans to invest $75 million in CRFN. priceline.com Incorporated (NASDAQ: PCLN) added 5.76% to $450.52 in the pre-market session. PCLN issued upbeat Q1...
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Central Pacific Financial Corp. Director Buys 100,000 Shares of CPF
Wednesday, February 23, 2011 - 5:11pm | 52In a Form 4 filed earlier today, Central Pacific Financial Corp. (NYSE: CPF) Director, Paul Kosasa, reported that he bought 100,000 shares of CPF on February 18th for an average price of $10.00. The transaction totaled $1,000,000. Mr. Kosasa owns 144,925 direct shares of CPF. Source: The...
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Central Pacific Financial Corp. Director Buys 50,000 Shares of CPF
Wednesday, February 23, 2011 - 5:06pm | 55In a Form 4 filed earlier today, Central Pacific Financial Corp. (NYSE: CPF) Director, Maurice Yamasato, reported that he bought 50,000 shares of CPF on February 18th for an average price of $10.00. The transaction totaled $500,000. Mr. Yamasato owns 70,674 direct shares and 13,000 indirect shares...
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Doug Kass Adding To Longs (BAC, PNC, MSFT)
Wednesday, February 23, 2011 - 2:49pm | 63Doug Kass tweeted that he is adding to long positions in Bank of America (NYSE: BAC), PNC Financial (NYSE: PNC) and Microsoft (NASDAQ: MSFT). Kass is a contributor to TheStreet.com
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Wednesday's Put/Call Ratio Leaders (DRIV, CLWR, KEY, OI, TRE)
Wednesday, February 23, 2011 - 2:46pm | 92Here is a quick peek at stocks that have abnormally high daily put/call ratios today relative to their average…. 1. Digital River (NASDAQ: DRIV) 9,436 puts, 259 calls 2. Clearwire Corporation (NASDAQ: CLWR) 4,747 puts, 212 calls 3. KeyCorp (NYSE: KEY) 2,893 puts, 132 calls 4. Owens Illinois Inc. (...
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Morning Market Movers (WBNK, DEP, BDCO, ELGX)
Wednesday, February 23, 2011 - 11:01am | 149Waccamaw Bankshares Inc (NASDAQ: WBNK) jumped 25.39% to $1.4420 at 10:00 am. WBNK shares have dipped 56.44% over the past 52 weeks, while the S&P 500 index has gained 20.18% in the same period. Duncan Energy Partners LP (NYSE: DEP) shares advanced 22.97% to $40.04. Enterprise Products Partners...
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UPDATE: KBW Raises PT on Bank of Marin to $44 (BMRC)
Wednesday, February 23, 2011 - 9:49am | 101KBW is out with its report today on Bank of Marin (NASDAQ: BMRC), raising its price target to $44. In a note to clients, KBW writes, "BMRC acquired certain assets and liabilities of Charter Oak Bank in an FDIC-assisted transaction on Friday, February 18; Charter Oak Bank was a two-branch...
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Benzinga's Top Upgrades (PNW, APD, SYK, ZION)
Wednesday, February 23, 2011 - 9:25am | 133Pinnacle West Capital Corporation (NYSE: PNW) was upgraded by Goldman from "neutral" to "buy." PNW's shares closed at $41.39 yesterday. PNW's trailing-twelve-month operating margin is 20.27%. Citigroup upgraded Air Products and Chemicals Inc (NYSE: APD) from "hold" to "buy.” APD's shares closed at...
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Macquarie Upgrades ZION To Outperform
Wednesday, February 23, 2011 - 7:45am | 49Analysts at Macquarie upgrade Zions Bancorporation (NASDAQ: ZION) from “neutral” to “outperform.” The target price for ZION has been raised from $25 to $28. ZION shares lost 4.19% to close at $23.09 yesterday. More Analyst Ratings here
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Morningstar's Top Takeover Targets in 2011 (Guest Post)
Wednesday, February 23, 2011 - 12:19am | 1191By Hedge Fund Live The spreadsheet below gives you the up-to-date internals for the top take out names identified by Morningstar. Before getting to the spreadsheet let me tell you what these companies do and what the rumor mill has been saying over the last few months. ACTELION (ALIOF.PK): In...
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Peapack-Gladstone Financial Corporation Receives Approval From U.S. Treasury to Redeem a Portion of the Preferred Stock
Tuesday, February 22, 2011 - 5:31pm | 78Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announced today that it has received approval from the U.S. Treasury to redeem an additional 25% of the preferred shares originally issued under the Treasury's Capital Purchase Program. The Corporation expects to repay approximately $7.2...
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Eastern Virginia Bankshares, Inc. Formalizes Written Agreement with Regulators
Tuesday, February 22, 2011 - 3:54pm | 139Eastern Virginia Bankshares, Inc. (NASDAQ: EVBS) and its banking subsidiary, EVB announced today that they have entered into a written agreement with the Federal Reserve Bank of Richmond and the Virginia State Corporation Commission Bureau of Financial Institutions. The purpose of the Agreement is...
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Wunderlich Securities Maintains IBERIABANK Buy, $70 PT (IBKC)
Tuesday, February 22, 2011 - 2:00pm | 111Wunderlich Securities maintained its IBERIABANK (NASDAQ: IBKC) Buy rating and $70 price target in a research report published today. In the report, Wunderlich Securities states, "This morning, IBKC announced the acquisition of Metairie, Louisiana-based Omni Bancshares, Inc., which had $735 million...