|Day Low/High||151.97 / 154.69|
|52 Wk Low/High||133.78 / 176.11|
You can't have a bull market for stocks if shares of major banks are in a bear market. The weekly chart for the banking index is negative right now.
Stocks with insider trader activity include HELE, MTB and WDR
Big banks should consider breaking up, but top managers aren't incentivized to consider such a move as it would likely lead to lower compensation, argues KBW strategist Fred Cannon in a report published Sunday.
Cramer prefers M&T Bank to Hudson City Banc and thinks Nustar Energy is a good one to own.
Today's move into the red caught investors by surprise because the economy seems to be improving. Here's what Cramer will be watching next week.
On 4/29/14, M & T Bank Corp's Fixed Rate Cumulative Perpetual Preferred Stock, Series A will trade ex-dividend, for its quarterly dividend of $15.9375, payable on 5/15/14. As a percentage of MTB.
Cramer says wait and see on Under Armour and he prefers EOG Resources over Exco Resources.
Investors are focusing on the positive instead of the negative, Cramer says.
Credit Suisse increased its target price on M&T Bank (MTB) to $128, increased its estimates through 2016 and set a "neutral" rating. The firm noted the company is keeping a tight lid on costs.
M&T Bank (MTB) reported its first-quarter earnings on Monday before the market opened and noted earnings per share in line with analysts' estimates. The bank reported diluted earnings per share of $1.61, in line with estimate from analysts opinion data from Thomson Financial network. This is down from $1.98 in the same quarter one year earlier. Net income was $229 million, down from $274 million in the same period one year ago.
Stock futures are rising after stronger-than-expected results from Citigroup.
All regional and money center banks report their quarterly results in April. 'Too big to fail' JPMorgan Chase and Wells Fargo begin this earnings wave before the opening bell on Friday.
JPMorgan Chase, Wells Fargo and Commerce Bancshares begin earnings season for the 24 regional banks in the KBW Banking Index next week.
These heavily shorted stocks could get squeezed much higher on any positive catalyst.
Bank of America, PNC Financial and Regions Financial are the year-to-date leaders helped by favorable stress test results last week.
The fundamentals are strong and the valuation points to opportunity. I have followed Discover Financial since the days when it was spun off from Morgan Stanley in July 2007. It issues both credit and debit cards, provides other loans and operates one of four major payment networks that process and clear point-of-sale purchases in the U.S.
The Fed was upbeat about the results of its expanded round of bank stress tests, but Zions Bancorporation of Salt Lake City failed the test.
These large-cap U.S. banks that "could reach" into the category of 'best managed Banks,' according to the equity analyst team at RBC Capital Markets.
The financials have had a rocky start to 2014 after starting the year strong out of the gate. I like the sector because I think the U.S. economy is on the mend and as the data improves, so will loan growth. Plus, a better economy should lead to a steeper yield curve, helping to lift Net Interest Income and Net Interest Margins - in turn, helping profitability levels.
M&T Bank was a winner within the financial sector, rising $1.55 (1.3%) to $118.91 on light volume
TheStreet highlights 3 stocks pushing the banking industry higher today.
Shareholders of M&T Bank Corp looking to boost their income beyond the stock's 2.5% annualized dividend yield can sell the July covered call at the $120 strike and collect the premium based on the $1.65 bid, which annualizes to an additional 3.5% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 6% annualized rate in the scenario where the stock is not called away. Any upside above $120 would be lost if the stock rises there and is called away, but MTB shares would have to advance 5.9% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 7.3% return from this trading level, in addition to any dividends collected before the stock was called.
TheStreet highlights 3 stocks pushing the financial sector lower today.
Stocks with insider trader activity include ALGN, KNX, MTB, PBI and UNM
Stocks with insider trader activity include MMS, MAA, IBKR, MTB and CNQR
Stocks with insider trader activity include PRXL, POWI, UAL, MTB and AZPN
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