Posts for Ticker ‘VLY’

S&P Looking For More Bank Losses (WFC, CMA, USB, BBT, RF, COF, FITB, HBAN, SNV, WTNY, FAS)

burning-money-picStandard & Poor’s may still have at least some relevance in its debt ratings.  This morning we saw a wave of downgrades at banks by the debt ratings agency on systematic-risk and non-systematic risk.   We tried to shorten this up to the most concise report in rating groups as this is hitting many of the bank stocks pretty hard this morning. Wells Fargo & Co. (NYSE: WFC), Comerica (NYSE: CMA), USBancorp (NYSE: USB), BB&T Corp. (NYSE: BBT), Regions Financial Corp. (NYSE: RF), Capital One Financial Corp. (NYSE: COF), Fifth Third Bancorp (NASDAQ: FITB), Huntington Bancshares Inc. (NASDAQ: HBAN), Synovus Financial Corp. (NYSE: SNV) and Whitney Holding Corp. (NASDAQ: WTNY) were all in the wave of S&P downgrades.  This news has the extremely volatile Direxion Daily Financial Bull 3X Shares (NYSE: FAS) triple leverage financial sector ETF down 7% at $8.60.
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Posted on: June 17, 2009 – 11:40 am in Analyst Calls, Banking, Financial Stocks, , , , , , , , , , , , , , , , , ,

Financial Downgrades (BAC, BBT, CLMS, CMA, FITB, BEN, STI, VLY)

There were more downgrades in financial stocks, but these were the larger names that saw estimates or ratings cut by analysts this morning:

  • Bank of America (BAC) Cut to Underperform at KBW.
  • BB&T (BBT) Cut to Underperform at KBW.
  • Calamos Asset Management (CLMS) Cut to Sell at Goldman Sachs.
  • Comerica (CMA) Cut to Market Perform at KBW.
  • Fifth Third Bancorp (FITB) Cut to Market Perform at KBW.
  • Franklin Resources (BEN) Cut to Neutral at Goldman Sachs.
  • Suntrust Banks (STI) Cut to Underperform at KBW.
  • Valley National Bancorp (VLY) Cut to Underperform at KBW.

Jon C. Ogg
September 10, 2008

Posted on: September 10, 2008 – 6:33 am in Analyst Calls, Banking, Financial Stocks, , , , , , , ,

Pre-Market Analyst Calls (June 15, 2007)

ABCO started as Outperform at CIBC.
AXTI started as Buy at First Albany.
BKD started as Buy at Jefferies.
BOOM started as Buy at First Albany.
CQB started as Buy at Morgan Joseph.
EXBD started as Sector Perform at CIBC.
FCN started as Outperform at CIBC.
FRE raised to Outperform at FBR.
HCBK started as Underperform at Bear Stearns.
HNSN started as Buy at Oppenheimer.
HOMB started as Sector Perform RBC.
INTC raised to Buy at Goldman Sachs; stock up almost 2%.
IIVI started as Buy at First Albany.
KNDL raised to Buy at Jefferies.
LGCY started as Buy at Oppenheimer.
NFS raised to Buy at Citigroup.
NFLX raised to Buy at Soleil.
PNX cut to Hold at Citigroup.
PTRY raised to Buy at Jefferies.
SFG raised to Buy at Citigroup.
VLY started as Peer Perform at Bear Stearns.
WSO cut to Hold at BB&T.

Jon C. Ogg
June 15, 2007

Posted on: June 15, 2007 – 6:26 am in Analyst Calls, , , , , , , , , , , , , , , , , , , , ,