|Bid||48.00 x 2200|
|Ask||50.75 x 1000|
|Day's Range||50.18 - 50.85|
|52 Week Range||40.68 - 56.31|
|Beta (3Y Monthly)||1.12|
|PE Ratio (TTM)||12.97|
|Forward Dividend & Yield||1.62 (3.26%)|
|1y Target Est||N/A|
Charlotte's first capital fund for financial-technology startups is up and running. So far, Carolinas Fintech Ventures has raised $2.5 million.
Two of Central Florida’s largest banks that occupy prominent downtown Orlando offices and have dozens of branches across the Orlando area may put some of that real estate up for lease or sale in the coming months. Winston-Salem, N.C.-based BB&T Corp. (NYSE: BBT) will buy Atlanta-based SunTrust Banks Inc. (NYSE: STI) in this year’s fourth quarter for roughly $28 billion, creating a plethora of local real estate opportunities as the banks begin to consolidate operations.
The biggest bank deal in recent years doesn’t touch southwestern Pennsylvania per se, but it could pave a path to new opportunities for one of Pittsburgh’s largest banks. It may also signal the next large financial institution to enter the region. BB&T Corp., based in Winston-Salem, North Carolina, and SunTrust Banks Inc. of Atlanta (NYSE:STI) announced plans to merge in a $66 billion all-stock transaction that will create the nation’s sixth-largest bank with assets of $442 billion.
The biggest U.S. bank deal in a decade has some questioning if Birmingham’s largest bank and only Fortune 500 company could be the next M&A; target.
Venezuela’s economy may have fallen completely into disarray, but markets are looking for a political resolution that would open the doors for various investments.
The planned departure of the Triad's two leading Fortune 500 companies continues a long trend of the Triad losing the HQ presence of nationally recognized companies. Of the 25 companies on TBJ's local public companies list a decade ago, only eight remain public and based in the region.
In September 2017, North Carolina native Cameron Wells moved to Nashville to lead the local office of one of The Tar Heel State’s most recognizable lenders. The BB&T veteran’s profile is slated to rise in the coming months as the bank finalizes its recently announced blockbuster acquisition of Atlanta’s SunTrust Banks Inc. That deal will catapult BB&T to be one of Nashville’s largest banks, giving Wells access to a deeper client roster, bench of talent and well of resources. How’d you start working with BB&T?
The deal bringing the combined BB&T;/SunTrust to Charlotte in many way resembles First Union Corp.’s 2001 purchase of the original Wachovia Corp. That deal, like this one, involved a raid by Charlotte on a major banking headquarters in Winston-Salem.
Federal bank regulators have changed policies that had deterred deals after the financial crisis, The Wall Street Journal says.
Behind one of the biggest bank deals in a decade is a recognition that BB&T Corp. and SunTrust Banks Inc., both dominant banks in the South, would be more competitive with a bigger tech budget. The deal, which would create the sixth-largest regional bank and a financial powerhouse in the South, underscores the urgency facing regional banks to invest heavily in client-facing and back-end technology to continue attracting consumer and corporate customers. It’s technology,” said Todd Baker, a senior fellow at the Richard Paul Richman Center for Business, Law and Public Policy at Columbia University.
"We are going to invest another $100 million dollars in technology and in innovation," CEO Bill Rogers told SunTrust employees in a companywide webcast.
If the market is any indication of how the BB&T; Corp. and SunTrust Banks Inc. combination will play out, then it's full-steam ahead for the "merger of equals."
When BB&T; and SunTrust announced their mega-merger, Pinnacle CEO Terry Turner's inbox was flooded with emails. Here's why.
Baltimore's skyline is about to change in the wake of the merger between BB&T Corp. and SunTrust Banks Inc. Both banks have neon monikers atop some of the city's tallest buildings and the deal announced last week specifies a new identity for the megabank is coming. "They are not sure what the name is," said Antony Gross, senior vice president for JLL and a local expert on the office market. "From a landscape standpoint, one of the two names is going to disappear or both." The $66 billion merger unveiled last Thursday between BB&T (NYSE: BBT) and SunTrust (NYSE: STI) will make it the region's third largest bank with about $442 billion in assets.
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another government shutdown, raising hopes that Congress can pass a spending bill before the Friday deadline, if President Donald Trump decides to sign it. Both parties have repeatedly stated they are strongly against a second government shutdown. The most recent shutdown — the longest in US history — lasted 35 days and affected 800,000 federal workers, with knock-on effects for government contractors, as well as the broader US economy.
The yet-to-be-named bank that emerges from the BB&T-SunTrust; marriage will have a crowded playing field in Durham – with several duplicate locations.
BB&T has 52 branches in the Triad, and SunTrust has 25. According to Triad Business Journal research, at least 11 BB&T branches are within one mile of a SunTrust branch. TBJ talked with three Triad real estate brokers familiar with the industry – NAI Piedmont Triad's Robbie Perkins, Schulman & Beard's Richard Beard and Ray Collins of Collins Commercial Properties.
The SPDR S&P Regional Banking ETF (NYSEArca: KRE), the largest regional bank exchange traded fund, and rival regional bank ETFs were among last year’s most disappointing assets. The group plunged even ...
Thinking about this past week's news of the first major bank deal since the financial crisis -- that is, the tie-up of BB&T (NYSE:BBT) and SunTrust Banks (NYSE:STI) -- it's clear that in financial services, size matters. The all-stock deal will create the sixth-largest U.S. bank with more than $440 billion in combined assets.Source: Shutterstock Sure, one driver for the deal is a more-favorable regulatory environment. But it also looks like the combination of BBT and STI is mostly about fending off the mega banks.If anything, this is validation that the bigger, the better in financial services. So when investors are looking for opportunities, it seems like a pretty good bet to focus on those that are the leaders. This is why I think Bank of America (NYSE:BAC) represents a good opportunity right now.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAfter all, just look at the most recent earnings report. Profits came to 73 cents a share -- tripling to a record $7.3 billion -- and revenue hit $22.7 billion. By comparison, the Street was looking for 63 cents for each share of BAC stock and $22.4 billion on the top-line. Those numbers spiked Bank of America stock more than 7% on the news. * 7 Reasons You Want Boeing Stock in Your Portfolio The net interest income key metric was 2.48% (this is the difference between what BAC lends on its money and what it pays its depositors). Essentially, the large deposit base has remained fairly stable despite changes in interest rates. BAC Stock and the EconomyThe fact remains that BAC stock is mostly tied to the fortunes of the U.S. economy. And yes, this is certainly a good thing because much of the rest of the world's economies aren't growing the way they've been in recent years.A great indication of the strength of the U.S. economy is how BAC's consumer banking segment performed in the quarter. Keep in mind that the division posted earnings growth of a sizzling 52% to $3.3 billion. There was also a 6% increase in debit and credit card use.But when it comes to BAC stock, it's also important to consider that BofA has a thriving wealth management business, which includes Merrill Lynch and U.S. Trust. Despite the bear move in the fourth quarter, the segment still posted a 7% increase in revenue to $4.99 billion. That stands in sharp contrast to peers, such as Morgan Stanley (NYSE:MS), Wells Fargo (NYSE:WFC) and JPMorgan Chase (NYSE:JPM), which reported declines. * The 9 Best Stocks to Invest In During a Manic Market To be sure, BAC still has some issues, such slow-growing trading revenues, up a mere 1% in the quarter. The main culprit was a 15% plunge in the fixed-income segment. Then again, the trading business is often volatile and tough to manage. Bottom Line on BAC StockWhen it comes to Bank of America stock, there is more than just scale. The company has been smart to invest substantial amounts into digital technologies. BAC is becoming a top player in the fast-growing fintech market.It has about 36.3 million active digital banking customers, of which 26.4 million use their mobile devices to access services. Roughly 19% of consumer mortgage applications come from digital channels.The Zelle peer-to-peer payments app has also been getting lots of traction. On a year-over-year basis, volumes soared by 97% to $14 billion. What's more, BAC is seeing success with its digital assistant, Erica, which has 4.8 million users.Granted, the fintech efforts are still in the early phases. But the innovations should help with long-term growth. In the meantime, BAC stock has the advantages of a stable business that should continue to benefit from the growth in the U.S. economy. Bank of America management remains focused on cost cutting and rationalizing the physical branch footprint. In other words, for investors looking for a bank with multiple positive drivers, BAC stock fits the bill.Tom Taulli is the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Monster Growth Stocks to Buy for 2019 and Beyond * 7 Cloud Stocks To Buy Now * 5 Undervalued Stocks to Invest In Compare Brokers The post Bank of America Stock Looks Good For Investors Who See Bigger As Better appeared first on InvestorPlace.