|Bid||44.98 x 1100|
|Ask||48.94 x 1000|
|Day's Range||47.92 - 48.41|
|52 Week Range||38.28 - 51.59|
|PE Ratio (TTM)||13.42|
|Forward Dividend & Yield||0.96 (1.99%)|
|1y Target Est||N/A|
The bank, based in Chicago, said it had earnings of 42 cents per share. Earnings, adjusted for non-recurring costs, were 68 cents per share. The results met Wall Street expectations. The average estimate ...
For a decade, Bank of Montreal executives eyed with envy Chicago’s bustling corner of West Washington Street and North Wacker Drive.
Wells Fargo's (WFC) efforts to recover its image, along with an improving economic backdrop might support its growth in the near term.
The challenges of low inventory and rising interest rates aren't unique to the Seattle-based bank, industry experts warn, and could mean more layoffs and office closures to come.
One of the most difficult industry to value is banking, given that they adhere to different rules compared to other companies. Banks, for example, must hold certain levels of tieredRead More...
Strong fee income, a better efficiency ratio than peers and credit quality are behind Argus' bullish Fifth Third Bancorp (NASDAQ: FITB ) thesis. The Analyst Argus analyst Stephen Biggar initiated coverage ...
Review | Preview The rollback of some postcrisis financial regulations will help small and mid-size banks get bigger—and leave fewer of them. Barron’s saw the potential in early December (“Lifting the Lid on Regional Banks’ Share Prices,” Dec. 2, 2017), as the legislation emerged from the Senate Banking Committee. By raising the threshold for stricter supervision under Dodd-Frank from $50 million in assets to $250 million, the new law effectively removes a disincentive for mergers and acquisitions.
Ratings of MB Financial (MBFI) under review for an upgrade by Moody's Investors Service, following announcement of the stock-cash acquisition deal with Fifth Third (FITB).
Moody's Investors Service has placed the ratings of MB Financial, Inc. (senior unsecured shelf (P)Ba1) and its lead bank MB Financial Bank, National Association (MB Financial, issuer rating Ba1) on review for upgrade following the company's announcement that it has entered into a definitive agreement to be acquired by Fifth Third Bancorp (Fifth Third, senior unsecured Baa1) for $4.7 billion.
Fifth Third agreed to buy MB Financial in a deal that values the company at 2.76x tangible book value and tangible book value dilution of 7.7 percent, George said in a note. Investors may have reason to be "struggling" with the TBV dilution and the new M&A deal puts at risk the improving pace of organic capital return.
On Monday, Fifth Third Bancorp (FITB) announced that it will buy fellow bank MB Financial (MBFI) for $54.20 per share in a cash-and-stock deal valued at $4.7 billion. While, M&A has been a popular way to boost growth during the slow recovery from the financial crisis, banks have been left out of the party. Congress is also on the cusp of rolling back the financial rules put in place after the financial crisis, as well.
Fifth Third Bancorp said Monday it has agreed to buy MB Financial Inc. in a mostly stock deal, further expanding Fifth Third’s presence in Chicago. The companies valued the transaction at $4.7 billion, though a sharp drop in Fifth Third’s stock pushed that value down. Analysts questioned the deal’s price tag, which is at a 24% premium to MB Financial’s value on Friday.
Fifth Third Bancorp’s $4.7 billion deal to acquire small Chicago-based lender MB Financial is a sign that positive animal spirits have returned to the banking world. Investors should expect many more mergers and acquisitions. Rather, it has everything to do with Fifth Third’s high share price, capital reserves and confidence level.
As part of the deal announced on Monday, each MB Financial shareholder will get $54.20, comprising 1.45 shares of Fifth Third common stock and $5.54 in cash, a 24 percent premium to MB Financial's last close. Shares of MB Financial were up 14 percent at $49.75 in early trade, while Fifth Third shares were down 7.2 percent at $31.12. D.A. Davidson analyst Kevin Reevey said that Fifth Third was limited in their ability to expand in Ohio and that the acquisition of Chicago-based MB Financial was the most logical move for them, from a geographical standpoint, in order to expand their deposit franchise.
Shares of Fifth Third Bancorp tumbled 8.2% in afternoon trade Monday, putting them on track for the biggest one-day selloff in two years, after the regional bank's deal to buy MB Financial Inc. in a $4.7 billion deal pushed Instinet analyst Bill Carcache to turn bearish. Carcache cut his rating to reduce, after being at neutral since January 2017, and slashed his stock price target to $31 from $36, as he said the deal represents a "painful blow" to Fifth Third's existing shareholders. "At issue, in our view, is the high cost of the [MB Financial] acquisition," Carcache wrote in a note to clients.
U.S. regional bank Fifth Third Bancorp has agreed to buy smaller rival MB Financial Inc in a stock-and-cash deal valued at about $4.7 billion, as it looks to expand in Chicago and broaden its middle market customer base. As part of the deal announced on Monday, each MB Financial shareholder will get $54.20, comprising 1.45 shares of Fifth Third common stock and $5.54 in cash, a 24 percent premium to MB Financial's last close. Shares of MB Financial were up 14 percent at $49.75 in early trade, while Fifth Third shares were down 7.2 percent at $31.12.
The investment community was surprised that Fifth Third Bancorp is making a big acquisition of a Chicago bank in a deal announced Monday, but they were even more surprised by the price it'll pay.