Hot Stocks
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First Merchants… First Merchants Corporation (FRME) and Level One Bancorp, Inc., (LEVL) announced they have executed a definitive merger agreement by which Level One Bancorp, Inc. will merge with and into First Merchants Corporation in a stock and cash transaction currently valued at approximately $323.5M. Upon completion of the merger, Level One Bank will merge with and into First Merchants Bank. The merger agreement provides that the common shareholders of LEVL will have the right to receive a 0.7167 share of First Merchants common stock, in a tax-free exchange, and $10.17 in cash for each share of LEVL common stock owned, currently an approximate 75% stock / 25% cash mix. Based on the closing price of First Merchants common stock on November 3, 2021 of $43.50 per share, the implied merger consideration for each share of LEVL common stock is $41.35 per share. In addition, each share of Level One's 7.50% Non-Cumulative Perpetual Preferred Stock, Series B, outstanding immediately prior to the effective time of the merger will be converted into the right to receive one share of a newly created series of preferred stock of First Merchants having voting powers, preferences and special rights that are substantially identical to the Level One Series B preferred stock. First Merchants expects this combination to be mutually beneficial to First Merchants and LEVL shareholders and customers. First Merchants anticipates earnings per share accretion of approximately 10.4% in 2023 and a tangible book value earnback of 2.9 years. The transaction is expected to be completed in the first half of 2022, subject to the affirmative vote of a majority of LEVL common shareholders, regulatory approvals, and other customary conditions. The combined company, conducting its banking business as First Merchants Bank, expects to complete its system integration during the third quarter of 2022. Stephens Inc. served as the financial advisor to First Merchants and legal advisor was Dentons Bingham Greenebaum LLP. Piper Sandler & Co. served as financial advisor to LEVL in this transaction and Barack Ferrazzano served as legal advisor. ShowHide Related Items >><< - 11/04/21
- First Merchants, Level One sign merger agreement in deal valued at $323.5M
- 07/29/21 Janney Montgomery Scott
- First Merchants upgraded to Buy from Neutral at Janney Montgomery Scott
- 04/27/21 Raymond James
- First Merchants price target raised to $55 from $46 at Raymond James
- 02/01/21 Raymond James
- First Merchants upgraded to Outperform from Market Perform at Raymond James
- 02/01/21 Raymond James
- First Merchants upgraded to Outperform from Market Perform at Raymond James
- 03/18/21 Raymond James
- Level One price target raised to $30 from $26 at Raymond James
- 02/01/21 Raymond James
- Level One upgraded to Strong Buy from Outperform at Raymond James
- 02/01/21 Raymond James
- Level One upgraded to Strong Buy from Outperform at Raymond James
- 10/29/21
- Level One reports Q3 EPS $1.16, consensus 98c
- 07/30/21
- Level One reports Q2 EPS 84c, consensus $1.04
- 10/26/21
- First Merchants reports Q3 EPS 98c, consensus 91c
- 07/26/21
- First Merchants reports Q2 EPS $1.03, consensus 92c
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Earnings
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Total assets equaled… Total assets equaled $15.1 billion as of September 30, 2021 and loans totaled $9.0 billion. The Corporation experienced organic loan growth of $503.9 million, or 6.0 percent during the last twelve months, offset by the forgiveness of Paycheck Protection Program loans which accounted for a decline of $703.3 million. As a result, the loan portfolio decreased by $199.5 million, or 2.2 percent, during that period. Organic loan growth, on an annualized basis, was 5.8 percent in the third quarter 2021. Investments increased $1.5 billion, or 51.6 percent, during the last twelve months and now total $4.4 billion. Total deposits equaled $12.3 billion as of quarter-end and increased by $1.4 billion, or 13.2 percent, from the same period in 2020. Mark Hardwick, Chief Executive Officer, stated, "We are having a record year powered by strong balance sheet growth and high levels of profitability. We remain optimistic about the remainder of 2021 and our ability to deliver high levels of performance in 2022." ShowHide Related Items >><< - 07/29/21 Janney Montgomery Scott
- First Merchants upgraded to Buy from Neutral at Janney Montgomery Scott
- 04/27/21 Raymond James
- First Merchants price target raised to $55 from $46 at Raymond James
- 02/01/21 Raymond James
- First Merchants upgraded to Outperform from Market Perform at Raymond James
- 02/01/21 Raymond James
- First Merchants upgraded to Outperform from Market Perform at Raymond James
- 07/26/21
- First Merchants reports Q2 EPS $1.03, consensus 92c
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Conference/Events
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11th Annual Bank Forum to… 11th Annual Bank Forum to be held in Little Rock, Arkansas on September 20-22. Webcast Link ShowHide Related Items >><< - 04/19/21
- Wintrust Financial says company saw strong loan growth in Q1
- 09/02/21
- WesBanco CFO Robert Young to retire, Daniel Weiss to succeed
- 08/26/21
- WesBanco approves new stock repurchase program for up to additional 3.2M shares
- 04/22/21
- WesBanco announces new 1.7M share repurchase authorization
UCBI United Community Banks - 08/16/21
- United Community Banks names Jennifer Bazante to board of directors
- 07/14/21
- United Community Banks to acquire Reliant Bancorp for $30.58 per share
- 07/07/21
- United Community Banks completes acquisition of FinTrust Capital Partners
- 05/27/21
- United Community Banks, Aquesta Financial enter $131M merger agreement
- 06/03/21
- United Bankshares to acquire Community Bankers Trust in all-stock transaction
- 06/03/21
- United Bankshares acquiring Community Bankers Trust
- 07/28/21
- Valley Republic Bancorp to merge into TriCo Bancshares in $165.6M stock deal
- 07/15/21
- Triumph Bancorp CFO Bryce Fowler to retire, Brad Voss to succeed
- 06/01/21
- TriumphPay closes acquisition of Hubtran
- 04/26/21
- Triumph Business Capital appoints Amber Roy as COO
- 04/01/21
- Triumph Bancorp to acquire HubTran for $97M in cash
- 09/07/21
- Sterling Bancorp announces strategic investment in Texture Capital
- 08/17/21
- Webster, Sterling shareholders approve merger
- 07/07/21
- Sterling Bancorp makes strategic investment in Verdigris Holdings
- 05/19/21
- Sterling Bancorp makes strategic investment in Finitive
- 08/03/21
- nCino announces S&T Bank no live on nCino Bank Operating System
- 07/12/21
- S&T Bancorp names Christopher McComish as CEO, succeeding David Antolik
- 09/01/21
- SmartFinancial completes acquisition of Sevier County Bancshares
- 05/03/21
- SmartFinancial acquires Fountain Leasing, terms not disclosed
- 04/14/21
- SmartFinancial to acquire Sevier County Bancshares in $38.2M transaction
- 05/04/21
- Renasant completes restructure of Park Place Capital
- 09/07/21
- Nicolet Bankshares announces 15 branches to consolidate, close
- 06/22/21
- Nicolet Bankshares to acquire County Bancorp in $219M deal
- 06/22/21
- Nicolet Bankshares to acquire County Bancorp in cash and stock deal
- 06/22/21
- Nicolet Bankshares to acquire County Bancorp in cash and stock deal
- 07/22/21
- Heartland Financial raises quarterly dividend 14% to 25c per share
- 07/14/21
- Heartland Financial appoints Wendy Reynolds as chief DEI officer
- 04/14/21
- Heartland Financial rebrands as HTLF
- 09/22/21
- Horizon Bancorp board increases quarterly dividend 15.4% to 15c per share
- 09/20/21
- Horizon Bancorp completes acquisition of 14 Michigan branches
- 08/09/21
- Horizon receives regulatory approvals to acquire 14 Huntington National branches
- 05/25/21
- Horizon Bancorp to acquire 14 TCF National Bank branches in Michigan
- 06/30/21
- Glacier Bancorp increases quarterly dividend by 1c to 32c per share
- 05/18/21
- Glacier Bancorp to acquire Altabancorp in roughly $933.5M deal
- 03/31/21
- Glacier Bancorp raises quarterly dividend to 31c from 30c per share
- 09/22/21
- Fulton Financial announces Anthony Cossetti joins as Chief Accounting Officer
- 07/21/21
- Fulton Financial sees FY21 NII $640M-$660M
- 04/21/21
- Fulton Financial raises FY21 NII view to $640M-$660M from $620M-$640M
- 07/29/21
- Finward Bancorp, Royal Financial sign definitive merger agreement
- 05/24/21
- Northwest Indiana Bancorp to change name to Finward Bancorp
- 08/20/21
- First Financial names Maggie Tuschinski chief digital officer
- 07/27/21
- First Financial renews stock repurchase plan
- 04/27/21
- First Financial raises quarterly dividend 15.4% to 15c per share
- 07/27/21
- Capital Bancorp declares initial cash dividend of 5c
ABTX Allegiance Bancshares - 06/06/21
- Fly Intel: Top five weekend stock stories
- 04/23/21
- Allegiance Bancshares approves stock repurchase authorization up to 1M shares
- 04/23/21
- Allegiance Bancshares appoints Raimundo Riojas to board of directors
- 07/23/21
- Ameris Bancorp says experienced top quartile return on assets
- 04/23/21
- Ameris Bancorp says remains focused on growth in TBV
- 04/07/21
- Fly Intel: Top five analyst downgrades
- 04/07/21 Raymond James
- Ameris Bancorp downgraded to Outperform from Strong Buy at Raymond James
- 03/30/21 DA Davidson
- Ameris Bancorp downgraded to Neutral at DA Davidson on valuation
- 03/30/21 DA Davidson
- Ameris Bancorp downgraded to Neutral from Buy at DA Davidson
ABTX Allegiance Bancshares - 10/02/20 Janney Montgomery Scott
- Allegiance Bancshares initiated with a Neutral at Janney Montgomery Scott
- 10/28/20 Piper Sandler
- Capital Bancorp upgraded to Overweight from Neutral at Piper Sandler
- 08/31/21 Janney Montgomery Scott
- Janney Montgomery Scott starts First Financial at Neutral
- 08/31/21 Janney Montgomery Scott
- First Financial initiated with a Neutral at Janney Montgomery Scott
- 04/27/21 Truist
- First Financial price target raised to $52 from $47 at Truist
- 03/08/21 Truist
- First Financial price target raised to $47 from $40 at Truist
- 09/08/21 Piper Sandler
- Nicolet Bankshares upgraded to Overweight from Neutral at Piper Sandler
- 06/28/21
- Fly Intel: Top five analyst upgrades
- 06/28/21 Stephens
- Nicolet Bankshares upgraded to Overweight on recent deals at Stephens
- 06/28/21 Stephens
- Nicolet Bankshares upgraded to Overweight from Equal Weight at Stephens
- 07/29/21 Truist
- Renasant price target lowered to $38 from $46 at Truist
- 01/29/21 Truist
- Renasant price target raised to $40 from $35 at Truist
- 09/29/20 Truist
- Truist raises price targets on select regional banks
- 07/23/21 B. Riley
- TriState Capital price target raised to $28 from $26 at B. Riley
- 07/12/21 B. Riley
- TriState Capital upgraded to Buy on share pullback at B. Riley
- 07/12/21 B. Riley
- TriState Capital upgraded to Buy from Neutral at B. Riley
- 04/26/21 B. Riley
- TriState Capital price target raised to $26 from $21 at B. Riley
- 02/01/21 Raymond James
- United Bankshares upgraded to Outperform from Market Perform at Raymond James
- 02/01/21 Raymond James
- United Bankshares upgraded to Outperform from Market Perform at Raymond James
- 11/18/20 Keefe Bruyette
- United Bankshares downgraded to Market Perform at Keefe Bruyette
- 10/13/20 Boenning & Scattergood
- United Bankshares resumed with a Neutral at Boenning & Scattergood
UCBI United Community Banks - 07/21/21 Raymond James
- United Community price target lowered to $36 from $39 at Raymond James
- 10/22/20 Raymond James
- United Community Banks upgraded to Outperform from Market Perform at Raymond James
- 10/22/20 Raymond James
- United Community upgraded to Outperform from Market Perform at Raymond James
- 10/19/20 Stephens
- United Community Banks resumed with an Overweight at Stephens
- 07/08/21 Raymond James
- WesBanco downgraded to Market Perform from Outperform at Raymond James
- 04/29/21 Piper Sandler
- WesBanco downgraded to Neutral from Overweight at Piper Sandler
- 04/09/21 B. Riley
- WesBanco price target raised to $32 from $30 at B. Riley
- 02/03/21 B. Riley
- WesBanco price target raised to $30 from $29 at B. Riley Securities
- 09/07/21 Keefe Bruyette
- Wintrust Financial upgraded to Outperform from Market Perform at Keefe Bruyette
- 09/03/21 Piper Sandler
- Wintrust Financial price target raised to $87 from $85 at Piper Sandler
- 07/20/21 Wedbush
- Wintrust Financial price target lowered to $85 from $95 at Wedbush
- 05/21/21 Truist
- Wintrust Financial upgraded to Buy from Hold at Truist
- $55.65 /
+0.0598 (+0.11%) - 08/03/21 B. Riley
- First Busey price target lowered to $27 from $29 at B. Riley
- 03/17/21 B. Riley
- First Busey price target raised to $29 from $26 at B. Riley Securities
- 01/07/21 B. Riley
- First Busey price target raised to $26 from $24 at B. Riley Securities
- 12/04/20 B. Riley
- First Busey price target raised to $24 from $20 at B. Riley Securities
- 07/28/21
- Fly Intel: Top five analyst upgrades
- 07/28/21 Keefe Bruyette
- Five Star upgraded to Outperform from Market Perform at Keefe Bruyette
- 06/01/21 DA Davidson
- Five Star initiated with a Buy at DA Davidson
- 06/01/21 DA Davidson
- Five Star initiated with a Buy at DA Davidson
- 06/21/21 Truist
- Glacier Bancorp assumed with a Buy at Truist
- 05/21/21 Truist
- Glacier Bancorp price target raised to $62 from $52 at Truist
- 05/20/21 Raymond James
- Altabancorp downgraded to Market Perform from Outperform at Raymond James
- 05/20/21 Piper Sandler
- Altabancorp downgraded to Neutral from Overweight at Piper Sandler
- 04/05/21 B. Riley
- B. Riley upgrades Triumph Bancorp to Buy on 'transformative acquisition'
- 04/05/21 B. Riley
- Triumph Bancorp upgraded to Buy from Neutral at B. Riley Securities
- 04/05/21 Raymond James
- Triumph Bancorp upgraded to Strong Buy from Outperform at Raymond James
- 04/05/21 Raymond James
- Triumph Bancorp upgraded to Strong Buy from Outperform at Raymond James
- 09/07/21 DA Davidson
- TriCo Bancshares upgraded to Buy from Neutral at DA Davidson
- 09/07/21 DA Davidson
- TriCo Bancshares upgraded to Buy from Neutral at DA Davidson
- 08/03/21 Piper Sandler
- TriCo Bancshares upgraded to Overweight on valuation at Piper Sandler
- 08/02/21 Piper Sandler
- TriCo Bancshares upgraded to Overweight from Neutral at Piper Sandler
- 05/11/21 DA Davidson
- DA Davidson upgrades Origin Bancorp to Buy after earnings beat
- 05/11/21 DA Davidson
- Origin Bancorp upgraded to Buy from Neutral at DA Davidson
- 03/18/21 Raymond James
- Origin Bancorp price target raised to $49 from $37 at Raymond James
- 01/29/21 Keefe Bruyette
- Origin Bancorp upgraded to Outperform with $36 target at Keefe Bruyette
- 09/07/21 Keefe Bruyette
- Heartland upgraded to Outperform from Market Perform at Keefe Bruyette
- 12/17/20 DA Davidson
- Heartland Financial upgraded to Buy at DA Davidson on further scale progress
- 12/17/20 DA Davidson
- Heartland Financial upgraded to Buy from Neutral at DA Davidson
- 03/08/21 Truist
- Prosperity Bancshares price target raised to $88 from $78 at Truist
- 01/07/21 BofA
- Prosperity Bancshares downgraded to Underperform from Neutral at BofA
- 10/29/20 Raymond James
- Prosperity Bancshares price target lowered to $65 from $70 at Raymond James
- 10/29/20 Janney Montgomery Scott
- Prosperity Bancshares upgraded to Buy from Neutral at Janney Montgomery Scott
- 07/21/21 Raymond James
- SmartFinancial price target raised to $30 from $27 at Raymond James
- 04/22/21 Raymond James
- SmartFinancial upgraded to Strong Buy from Outperform at Raymond James
- 10/28/20 Stephens
- SmartFinancial resumed with an Overweight at Stephens
- 07/12/21 Keefe Bruyette
- S&T Bancorp reinstated with a Market Perform at Keefe Bruyette
- 01/11/21 DA Davidson
- S&T Bancorp downgraded to Neutral from Buy at DA Davidson
- 01/11/21 DA Davidson
- S&T Bancorp downgraded to Neutral from Buy at DA Davidson
- 09/24/20 Boenning & Scattergood
- S&T Bancorp resumed with an Outperform at Boenning & Scattergood
- 06/03/21 Raymond James
- Webster Financial price target raised to $64 from $59 at Raymond James
- 05/10/21 Stephens
- Dime Community upgraded to Overweight at Stephens following 'solid' Q1
- 04/22/21 Stephens
- Webster Financial upgraded to Overweight from Equal Weight at Stephens
- 04/20/21
- Fly Intel: Top five analyst downgrades
- 07/29/21 Janney Montgomery Scott
- First Merchants upgraded to Buy from Neutral at Janney Montgomery Scott
- 04/27/21 Raymond James
- First Merchants price target raised to $55 from $46 at Raymond James
- 02/01/21 Raymond James
- First Merchants upgraded to Outperform from Market Perform at Raymond James
- 02/01/21 Raymond James
- First Merchants upgraded to Outperform from Market Perform at Raymond James
- 04/07/21 Raymond James
- Fulton Financial downgraded to Market Perform from Outperform at Raymond James
- 07/19/21
- Wintrust Financial reports Q2 EPS $1.70, consensus $1.59
- 04/19/21
- Wintrust Financial reports Q1 EPS $2.54, consensus $1.41
- 07/27/21
- WesBanco reports Q2 adjusted EPS $1.03, consensus 75c
- 04/27/21
- WesBanco reports Q1 EPS $1.06 ex-items, consensus 68c
UCBI United Community Banks - 07/20/21
- United Community Banks reports Q2 EPS 78c, consensus 63c
- 07/14/21
- United Community Banks reports preliminary Q2 EPS 77c-80c, consensus 63c
- 04/20/21
- United Community Banks reports Q1 EPS 82c, consensus 65c
- 07/23/21
- United Bankshares reports Q2 EPS 73c, consensus 71c
- 04/23/21
- United Bankshares reports Q1 EPS 83c, consensus 72c
- 07/21/21
- TriState Capital reports Q2 EPS 41c, consensus 36c
- 04/21/21
- TriState Capital reports Q1 EPS 35c, consensus 31c
- 04/28/21
- TriCo Bancshares reports Q1 EPS $1.13, consensus 80c
- 07/21/21
- Triumph Bancorp reports Q2 adjusted EPS $1.17, consensus $1.02
- 04/21/21
- Triumph Bancorp reports Q EPS $1.32, consensus 91c
- 07/21/21
- Sterling Bancorp reports Q2 adjusted EPS 52c, consensus 50c
- 04/19/21
- Sterling Bancorp reports Q1 non-GAAP EPS 51c, consensus 46c
- 07/22/21
- S&T Bancorp reports Q2 EPS 72c, consensus 69c
- 04/22/21
- S&T Bancorp reports Q1 EPS 81c, consensus 63c
- 07/20/21
- SmartFinancial reports Q2 non-GAAP EPS 60c, consensus 46c
- 04/20/21
- SmartFinancial reports Q1 EPS 65c, consensus 54c
- 07/27/21
- Renasant reports Q2 EPS 72c, consensus 78c
- 04/27/21
- Renasant reports Q1 EPS $1.02, consensus 67c
- 07/28/21
- Prosperity Bancshares reports Q2 EPS $1.41, consensus $1.39
- 07/28/21
- Origin Bancorp reports Q2 EPS $1.17, consensus 99c
- 04/28/21
- Origin Bancorp reports Q1 EPS $1.08, consensus 91c
- 07/20/21
- Nicolet Bankshares reports Q2 EPS $1.77, consensus $1.63
- 04/20/21
- Nicolet Bankshares reports Q1 EPS $1.75, consensus $1.64
- 07/26/21
- Heartland Financial reports Q2 EPS $1.41, consensus $1.26
- 04/26/21
- Heartland Financial reports Q1 EPS $1.20, consensus $1.10
- 04/26/21
- Heartland Financial reports Q1 EPS $1.20, consensus $1.10
- 07/27/21
- Horizon Bancorp reports Q2 EPS 50c, consensus 44c
- 04/28/21
- Horizon Bancorp reports Q1 EPS 46c, consensus 40c
- 07/22/21
- Glacier Bancorp reports Q2 EPS 81c, consensus 72c
- 04/22/21
- Glacier Bancorp reports Q EPS 85c, consensus 75c
- 04/22/21
- Glacier Bancorp reports Q EPS 85c, consensus 75c
- 07/20/21
- Fulton Financial reports Q2 EPS 38c, consensus 33c
- 04/20/21
- Fulton Financial reports Q1 EPS 43c, consensus 35c
- 07/26/21
- Five Star reports Q2 EPS 67c, two estimates 50c
- 07/26/21
- First Merchants reports Q2 EPS $1.03, consensus 92c
- 04/22/21
- First Merchants reports Q1 EPS 91c, consensus 76c
- 07/22/21
- First Financial reports Q2 EPS 39c, consensus 38c
- 04/22/21
- First Financial reports Q1 EPS 40c, consensus 37c
- 07/22/21
- Capital Bancorp reports Q2 EPS 68c, consensus 48c
- 04/22/21
- Capital Bancorp reports Q1 EPS 65c, consensus 56c
- 07/27/21
- First Busey reports Q2 adjusted EPS 57c, consensus 48c
- 04/27/21
- First Busey reports Q1 adjusted EPS 69c, consensus 52c
- $55.65 /
+0.0598 (+0.11%) - 07/15/21
- BancFirst reports Q2 EPS $1.45, consensus $1.13
- 04/15/21
- BancFirst reports Q1 EPS $1.27, consensus 96c
ABTX Allegiance Bancshares - 07/29/21
- Allegiance Bancshares reports Q2 EPS $1.12, consensus 90c
- 04/29/21
- Allegiance Bancshares reports Q1 EPS 89c, consensus 74c
- 07/22/21
- Ameris Bancorp reports Q2 adjusted EPS $1.25, consensus $1.18
- 04/22/21
- Ameris Bancorp reports Q1 adjusted EPS $1.66, consensus $1.15
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