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U.S. Banks - Industry Outlook

Tue, 14 Jul 2009 13:25:21 GMT

We think that the worst of the credit crisis is now probably behind us, but the banking system is not yet out of the woods -- there are still many significant challenges ahead. The banks are now able to tap the debt markets without the FDIC’s support, and also access the equity markets as the investor confidence returns in the stronger banks. Many banks have already repaid the TARP funds to the Treasury. ? While the bigger banks benefited greatly from the various programs launched by the Federal Reserve, the Treasury and the FDIC and are now in much better shape, many smaller banks are still in a very weak financial state and the FDIC’s list of problem banks continues to grow. Further, government efforts have not succeeded in restoring the lending activity at the banks.?Lower lending activity will continue to hurt margins, though the low interest rate environment should be beneficial to the banks with a liability-sensitive balance sheet.[More...]

S&P Ratings Revision – A Pointer To Difficult Banking Environment In The U.S.

Thu, 18 Jun 2009 14:08:07 GMT

On a day when companies repay their debt in advance, their stocks on bourses should advance, but Wednesday (June 18) was not any other normal day.[More...]

U.S. Banks Overview

Mon, 15 Jun 2009 14:48:00 GMT

The worst of the credit crisis is now probably behind us, but the banking system is not yet out of the woods, as there are still many significant challenges ahead. Ten of the nation's largest banks have received the Treasury approval for TARP repayment, as they are now able to tap the debt markets without FDIC's support and also access the equity markets as the investor confidence returns in the stronger banks. While the bigger banks have benefited a lot from the various programs launched by the Federal Reserve, the Treasury and the FDIC, and are now in a much better shape, many smaller banks are still in a very weak financial state, and the FDIC's list of problem banks continues to grow. Further, government efforts have not succeeded in restoring the lending activity at the banks. Lower lending activity will continue to hurt the margins, though the low interest rate environment should be beneficial to the banks with a liability sensitive balance[More...]

Banking Arena Has a Lot to Clean Up

Wed, 15 Oct 2008 12:46:00 GMT

Zacks senior financials industry analyst Neena Mishra continues to eye her coverage warily. We wanted to know what would need to happen in order for her outlook to turn sunnier. What is your general outlook for the financial sector at this time? We are assuming that GDP growth will be slightly negative for the next 3 or 4 quarters, though the credit markets will begin to function again. Not much can be done about the fundamental cause of the crisis -- the steep decline in the housing prices (we may only be halfway through the decline), which will continue to hurt the profitability of all financial institutions that hold mortgages and mortgage-backed securities. Isn't part of the problem how banks are doing business with each other? Banks still do not have trust each[More...]

Wachovia’s Pragmatic Mortgage Resolution

Thu, 24 Jul 2008 03:34:00 GMT

This is a story of four “Ws”: Wachovia Bank (WB), Washington Mutual (WM), Wells Fargo (WFC) and Wilmington Trust (WL). We have two dogs and two sweethearts, with the dogs trying to convince us that they too will eventually become sweethearts. The financial press only likes to faun over Wells Fargo, but I like Wilmington Trust better.Wilmington Trust has a long history in the wealth management business, and its real estate troubles are limited to a few troubled land and developer loans. Wilmington Trust’s volatility is much lower than the rest of the group. A smaller version of Wilmington Trust is Bryn Mawr Trust (BMTC). Both banks cater to a very wealthy clientele.The[More...]

Analyst Comments: Logitech, Polycom, Cleveland BioLabs, Stryker, Wilmington

Fri, 18 Jul 2008 21:18:00 GMT

Logitech International S.A. (LOGI) reported revenues for the fourth quarter of 2008, which were better than expected although earnings were below our estimates due to write-down of value of remaining CDOs. The company delivered good quarter in terms of revenues despite weaknesses in its Cordless Keyboard and Gaming segments. There was strong demand for Harmony remotes and pointing devices combined with good traction in original equipment manufacturer. Gross margins remained at a high level for the company reflecting ongoing product cost reductions and supply chain efficiencies. We now estimate that the company will continue to grow revenues and GAAP EPS by 15.0% and 10.1% respectively in 2009 over 2008 figures. We expect the company to continue to take advantage of the leveraging of its cost efficiency, and our estimates may prove conservative if the audio, video and[More...]

Mortgage & Housing Still a Financial Albatross - May 24 2008 12:22PM

Sat, 24 May 2008 16:16:40 GMT

Mortgage & Housing Still a Financial Albatross - May 19 2008 2:37PM

Mon, 19 May 2008 18:32:06 GMT

As we start to see another earnings season for financial institutions through the rear-view, we felt it was time to sit down with Zacks senior finance industry analyst Neena Mishra for her take on how first quarter earnings season performed overall, and where she sees financials going from here. Obviously, finance companies highly exposed to the mortgage crisis are suffering, but financials overall aren't doing so badly thus far in 2008. What do you make of this? That's right. The companies which have high exposure to mortgage/housing and commercial real estate (residential development, in particular) loans reported their 1Q08 results far worse than the estimates. To name a few under our coverage, Countrywide Financial ([More...]

A Hold on Wilmington Trust

Mon, 22 Oct 2007 19:09:36 GMT

A Hold recommendation has recently been issued to financial institution Wilmington Trust Corporation (WL) by Zacks banking industry analyst Neena Mishra. Here's what her latest update had to say:'Third quarter '07 core diluted earnings of $0.67 per share were five cents short of our estimate and consensus. While net interest margin remained unchanged from last quarter at 3.73%, the provision for loan...[More...]

BankUnited pins its comeback on a cheeky recruiting campaign: BankUnited, back from the brink, has launched a brazen campaign to lure management talent and business from its Florida competitors.

Thu, 05 Nov 2009 05:49:00 GMT

Nov. 5--BankUnited is making a bold grab for Florida banks' star executives -- and their customers.
John Kanas -- BankUnited's new top dog and the man who led an investor group in acquiring the bank after federal regulators seized it in May -- has created full-page newspaper ads and launched a website, UnhappyFloridaBankers.com, to lure away competing banks' top performers.
BankUnited, Florida's largest home-grown bank, launched the cheeky website Monday, inviting bankers with "a solid book of business, strong relationships with commercial clients and a proven track record in Florida banking" to submit their resumes online.

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U.S. Banks - Industry Outlook

S&P Ratings Revision – A Pointer To Difficult Banking Environment In The U.S.

U.S. Banks Overview

Banking Arena Has a Lot to Clean Up

Wachovia’s Pragmatic Mortgage Resolution

Analyst Comments: Logitech, Polycom, Cleveland BioLabs, Stryker, Wilmington

Mortgage & Housing Still a Financial Albatross - May 24 2008 12:22PM

Mortgage & Housing Still a Financial Albatross - May 19 2008 2:37PM

A Hold on Wilmington Trust

BankUnited pins its comeback on a cheeky recruiting campaign: BankUnited, back from the brink, has launched a brazen campaign to lure management talent and business from its Florida competitors.

Wilmington Trust Selects VeriSign to Provide New Mobile Banking Services

Wilmington Trust shares rise on analyst upgrade

Corus Bankshares Inc. On Cusp of Crisis: FDIC May Seize 'Critically Undercapitalized' Chicago-Based Lender

Bank's Rating Lowered to 'Junk'

Standard & Poor's cuts ratings on 18 banks

BankUnited: No Plans to Pull Out of Bay Area

New Owner Has Big Plans for BankUnited: Now That John Kanas Has Won the Bid to Acquire BankUnited and Has Become Its Top Dog, He Knows What He Wants to Do With the Coral Gables Thrift.

BankUnited -- Back From Brink -- Eager to Sell Sunnier Future: BankUnited This Week Was Transformed From a Teetering Thrift to a Financially Solid One Through a Government-Led Sale. Now It's Angling to Convey That New Status.

BankUnited Seizure Spurs Fight Within Former Parent Firm: BankUnited This Week Was Transformed From a Teetering Thrift to a Financially Solid One Through a Government-Led Sale to Private Equity Groups. Now It is Angling to Convey That New Status to Its Customers and Employees.

Wilmington Trust Estate Planning Expert and Trust Counsel Appointed to American Bar Association Commission

David Scott Joins Lovell Minnick's California Office

Wilmington Trust Announces 2009 Second Quarter Results

BenchmarkJournal.Com Free Analyst Review for WL, URS, AVY, HLX, MBT and PHG

Wilmington Trust Adds Custody and Escrow Professional in Corporate Client Services Business

Wilmington Trust Expects Lower 2009 Second Quarter Earnings

Wilmington Trust Clarifies Role in RathGibson Inc. Bankruptcy

StreetInvesting.Com Free Research on PKG, BC, RAX, WL, RAH and PEG

Wilmington Trust Adds Insurance-Product Expertise to Capital Markets Group

Wilmington Trust Clarifies Role in Continental Airlines, Inc. Transaction

Form 3 FREEH LOUIS J For: Oct 21 (10K)

Form 4 ELLIOTT R KEITH For: Sep 30 (10K)

Form 4 FOLEY DONALD E For: Sep 30 (10K)

Form 4 Krug Gailen Knox For: Sep 30 (10K)

Form 4 WILMINGTON TRUST CORP For: Sep 30 Filed by: SOCKWELL OLIVER R (10K)

Form 4 Whiting Susan D For: Sep 30 (10K)

Form 4 MOBLEY STACEY J For: Sep 30 (10K)

Form 4 HARRA ROBERT V A JR For: Aug 13 (10K)

Form 4 Graham Mark A For: Aug 13 (10K)

Form 4 Balentine Robert M For: Jan 25 (10K)