Huntington Bancshares upgraded to Strong Buy from Outperform at Raymond James » 07:2906/2306/23/21
Raymond James analyst…
Raymond James analyst David Long upgraded Huntington Bancshares (HBAN) to Strong Buy from Outperform with an $18 price target. Long believes recent weakness in its share price is undeserved, the analyst tells investors in a research note. The analyst is incrementally bullish on Huntington shares, as he believes the current discounted valuation represents an attractive entry point for a bank that consistently generates positive operating leverage and superior profitability metrics, which should be further enhanced by the acquisition of TCF (TCF).
Huntington Bancshares upgraded to Strong Buy from Outperform at Raymond James » 05:3606/2306/23/21
Raymond James analyst…
Raymond James analyst David Long upgraded Huntington Bancshares to Strong Buy from Outperform with an $18 price target.
Fifth Third to acquire digital platform for healthcare practices Provide » 08:3406/2206/22/21
Fifth Third Bancorp…
Fifth Third Bancorp announced a definitive agreement to acquire Provide, a digital platform for healthcare practices. In 2018, Fifth Third was an early investor in Provide, and the bank began funding loans through the company's platform in 2020. Provide will maintain its brand identity and operate as an independent business line as it continues to scale and expand product offerings for healthcare practices and the doctors who own them nationwide. The acquisition is subject to customary closing conditions, including regulatory approvals. Financial terms of the transaction have not been disclosed. "The healthcare industry is one of the largest and fastest growing segments of the U.S. economy. Over the last decade, Fifth Third's healthcare team has expanded its presence and expertise to become one of the top healthcare banking platforms for middle-market and corporate clients. Together, we can deliver a client experience that enables healthcare providers to focus on what they do best-providing the care their patients need while we make their banking experience convenient and efficient," said Greg Carmichael, chairman and CEO for Fifth Third Bancorp.
|Over a week ago|
Fifth Third: Q2 shaping up to be a 'good' quarter 10:0806/1606/16/21
Fifth Third sees Q2 expenses down 5% 10:0806/1606/16/21
Fifth Third sees 'very strong performance' from fee businesses » 10:0706/1606/16/21
Sees fees growing at…
Sees fees growing at about a 7% rate ex-RTRA for FY21.
Fifth Third: Q2 NII will be 'better' relative to expectations, up 2% » 10:0706/1606/16/21
Sees Q2 NII up 2%…
Sees Q2 NII up 2% sequentially vs. April expectations. On a full year basis, sees NII down 1%. Comments taken from the Morgan Stanley U.S. Financials Conference.
PNC Financial CEO calls loan growth 'unexciting' so far » 11:3406/1506/15/21
The bank is still…
The bank is still cautious on commercial real estate, CEO Bill Demchak said. The company says its capital ratio is better than expected following the BBVA deal. Comments taken from the Morgan Stanley US Financials Conference.
Fifth Third boosts investment in First Independence Bank » 13:2106/1406/14/21
Fifth Third Community…
Fifth Third Community Development Corp., a wholly owned subsidiary of Fifth Third Bancorp, has announced it is investing an additional $2.5M in Detroit-based First Independence Bank. The move makes Fifth Third the largest investor at a total of $5.5M in the minority depository institution and community development financial institution. "CDFIs are critical to creating and preserving wealth in minority communities," said Kala Gibson, Fifth Third Bank's head of business banking and chief enterprise corporate social responsibility officer. "It is imperative that larger financial services institutions support these organizations to ensure their viability and longevity."
Envestnet to replace TCF Financial in S&P 400 at open on 6/9 » 04:5506/0906/09/21
ENV, TCF, HBAN
Huntington Bancshares (HBAN) is acquiring TCF Financial (TCF) in a deal expected to be completed soon pending final closing conditions.