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FHN

First Horizon

$18.40

0.1 (0.55%)

, CBF

Capital Bank

$39.95

0.25 (0.63%)

16:33
11/17/17
11/17
16:33
11/17/17
16:33

First Horizon, Capital Bank agree to sell two branches to Apex Bank

First Horizon (FHN) and Capital Bank Financial (CBF) announced that, in connection with their proposed merger, Capital Bank Corporation will sell two branches in Greene County, totaling approximately $34M in deposits and $2.5M in loans, to Apex Bank, a Tennessee banking corporation. Apex Bank's purchase includes both branches slated for divestiture under First Horizon's agreement with the United States Department of Justice and commitments to the Board of Governors of the Federal Reserve System, which were entered into in connection with a customary review of First Horizon's pending merger with Capital Bank Financial. Apex Bank has $517M in assets and currently operates 11 branches in Tennessee, including two branches in Greene County. Apex Bank expects to retain all current branch employees when the purchase closes.

FHN

First Horizon

$18.40

0.1 (0.55%)

CBF

Capital Bank

$39.95

0.25 (0.63%)

FHN First Horizon
$18.40

0.1 (0.55%)

11/08/17
RAJA
11/08/17
UPGRADE
Target $22
RAJA
Strong Buy
First Horizon upgraded to Strong Buy at Raymond James
As previously reported Raymond James upgraded First Horizon to Strong Buy from Outperform with a $22 price target. Analyst Michael Rose said discounted valuation does not reflect acquisition benefits of Capital Bank and managements guidance for greater cost savings above the original $65M forecast.
11/08/17
RAJA
11/08/17
UPGRADE
RAJA
Strong Buy
First Horizon upgraded to Strong Buy from Outperform at Raymond James
09/27/17
09/27/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Netflix (NFLX), JD.com (JD) initiated with an Outperform at Wells Fargo, and Baidu (BIDU) were initiated with an Outperform at Wells Fargo. 2. Zealand Pharma (ZEAL) initiated with a Buy at Goldman Sachs. 3. Olin (OLN) initiated with a Buy at Citi. 4. First Horizon (FHN) resumed with an Equal Weight at Morgan Stanley. 5. CRH (CRH) initiated with a Buy at Jefferies. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/27/17
MSCO
09/27/17
INITIATION
Target $19.5
MSCO
Equal Weight
First Horizon resumed with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Ken Zerbe resumed coverage of First Horizon National with an Equal Weight rating and $19.50 price target, saying he believes the benefits of the deal to acquire Capital Bank Financial are baked in at current levels.
CBF Capital Bank
$39.95

0.25 (0.63%)

05/08/17
BMUR
05/08/17
DOWNGRADE
BMUR
Hold
Capital Bank downgraded to Hold from Buy at Brean Capital
Brean Capital analyst Blair Brantley downgraded Capital Bank Financial to Hold citing "limited chance" of an unsolicited offer to compete with the First Horizon National deal.
04/24/17
04/24/17
DOWNGRADE
Target $44

Market Perform
Capital Bank downgraded to Market Perform from Outperform at FBR Capital
FBR Capital analyst Stephen Moss downgraded Capital Bank Financial to Market Perform saying the valuation looks full following the company's Q1 results. The analyst lowered her price target for the shares to $44 from $45.
03/16/17
BMUR
03/16/17
NO CHANGE
Target $46
BMUR
Buy
Capital Bank sale rumor timing surprising, says Brean Capital
Brean Capital analyst Blair Brantley noted yesterday's media report that Capital Bank was exploring a sale. He said he believed the company would eventually sell itself, though the timing of the rumor was surprising as he sees a fair amount of excess capacity to be levered and earnings power yet to be realized. Brantley reiterated his Buy rating and $46 price target on Capital Bank shares.
02/24/17
BMUR
02/24/17
INITIATION
Target $46
BMUR
Buy
Capital Bank initiated with a Buy at Brean Capital
Brean Capital analyst Blair Brantley started Capital Bank Financial with a Buy rating and $46 price target. The analyst sees more upside in earnings and franchise value for the company.

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EQIX

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MET

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GM

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  • 09

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TCEHY

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AMZN

Amazon.com

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  • 18

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HUM

Humana

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, KND

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ORCL

Oracle

$48.30

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CSX

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VRX

Valeant

$19.71

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  • 27

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KMF

Kayne Anderson Midstream/Energy Fund

$13.78

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KYN

Kayne Anderson MLP

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KED

Kayne Anderson Energy

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KYE

Kayne Anderson Energy

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CSX

CSX

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CBOE

CBOE Holdings

$126.37

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DIS

Disney

$111.27

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, FOXA

21st Century Fox

$34.99

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$111.27

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$34.99

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ALK

Alaska Air

$70.83

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ONCE

Spark Therapeutics

$46.37

1.16 (2.57%)

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AAPL

Apple

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NFLX

Netflix

$190.12

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, DIS

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FOX

21st Century Fox

MSGN

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VIAB

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  • 08

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XOM

Exxon Mobil

$83.03

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DIS

Disney

$111.27

0.7 (0.63%)

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21st Century Fox

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T

AT&T

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CHTR

Charter

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CMCSA

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CMCSK

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VZ

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NFLX

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AMZN

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DFS

Discover

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SYF

Synchrony

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COF

Capital One

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OMF

OneMain Holdings

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CIT

CIT Group

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SC

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SLM

Sallie Mae

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AL

Air Lease

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  • 11

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    Dec

SHOO

Steven Madden

$44.15

1.15 (2.67%)

04:55
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  • 16

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