On Tuesday, BB&T Corporation (NYSE:BBT)’s shares inclined 0.82% to $40.60.
BB&T Corporation (BBT) said it has received all regulatory approvals to buy the Crestview Hills-based bank that’s the biggest in Northern Kentucky (NASDAQ: BKYF). It plans to wrap up the deal on June 19.
Customers will see the change almost right away. BB&T will close Bank of Kentucky’s 32 banking offices at 2 p.m. on June 19, a Friday, Andy Hawking, its president for the Northern Kentucky/Greater Cincinnati region, told me. It’ll spend the weekend converting computer systems and changing signs on the branches. When they open the next Monday, June 22, they’ll be full-fledged BB&T branches, marking that bank’s first entry into Greater Cincinnati.
Customers’ account numbers will change, but they’ll be able to use their old checks for a year, Hawking said. The bank has notified customers of details regarding the change and has put in hotlines to work with customers to ease the transition.
BB&T Corporation operates as a financial holding company that provides various banking and trust services for retail and commercial clients. It operates in six segments: Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services, and Financial Services. The company’s deposit products comprise noninterest-bearing checking accounts, interest-bearing checking accounts, savings accounts, money market deposit accounts, certificates of deposit, and individual retirement accounts.
Zions Bancorporation (NASDAQ:ZION)’s shares gained 0.16% to $31.86.
Deutsche Bank analyst Dave Rochester reiterated a Hold rating on shares of Zions Bancorporation ( ZION) with a price target boosted to $31 from a previous $29 to reflect lower expenses as part of the company’s declared corporate restructuring and operating leverage initiative.
The analyst continued that some degree of execution risk and revenue headwinds exist to the growth elements of the efficiency plan. As such, the company is not predictable to achieve its long-term aim of a 10 percent ROTCE (return on average tangible common shareholders’ equity) in fiscal 2017. Nevertheless, the steps the company is taking to move its efficiency ratio to a level more in line with its $50 billion plus asset peers is “encouraging” and “better than we had predictable originally.
Rochester raised his fiscal 2015, 2016 and 2017 earnings per share estimate by $0.05, $0.07 and $0.10, respectively to $1.45, $2.07 and $2.55. In addition to the revised expense plan, the analyst’s new estimates also reflect the positives of high-cost sub debt and preferred dividend reduction, the NIM benefits from the cash investment in HQLA (high quality liquid assets) of $6 billion over three years and loan growth over time.
Bottom line, Rochester sees upside in shares of Zion in a rising rate environment, he still sees greater risk-adjusted returns in other stocks in his coverage at the present time.
Zions Bancorporation, a financial holding company, provides a range of banking and related services in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash administration and related products and services; and residential mortgage servicing and lending.
At the end of Tuesday’s trade, Eclipse Resources Corp (NYSE:ECR)‘s shares surged 6.36% to $6.19.
Eclipse Resources Corp (ECR) declared DUG East Conference. Benjamin Hulburt, Chairman, President and CEO, will present and host a breakout session at 10:55 am Eastern Time on Wednesday June 24, 2015.
Operational Update
The Company is ongoing to execute on its drilling plan for the year, and strongly believes that it is on pace to meet or exceed both its second quarter and annual guidance. For the month of April 2015, the Company estimated that its net production averaged about 190 MMcfe per day contrast to its first quarter 2015 average of 159.6 MMcfe per day, or a 19% enhance. The Company’s formerly issued guidance for the second quarter of 2015 is 170 – 180 MMcfe per day. Based on the results for the quarter to date, the Company anticipates to be at the high-end of its formerly issued guidance for the quarter.
Additionally, the Company recently finished completion operations on its Sawyers pad in Monroe County, Ohio comprising of three wells with inter-lateral spacing of 730 feet. This important spacing test is the Company’s first spacing test below 1,000 feet between wells on its Dry Gas Utica Shale acreage, which if successful, could enhance the Company’s drilling locations by about 20%. The Company anticipates to put these wells into sales early during the third quarter of 2015.
Eclipse Resources Corporation, an independent exploration and production company, acquires and develops oil and natural gas properties in the Appalachian Basin. The company owns interests in the Utica Shale and Marcellus Shale areas. As of December 31, 2014, it had an acreage position approximating 221,700 net acres in Eastern Ohio.
Viacom, Inc. (NASDAQ:VIAB), ended its Tuesday’s trading session with -0.57% loss, and closed at $66.74.
Nickelodeon and all related titles, characters and logos are trademarks of Viacom Inc. (NASDAQ:VIA, VIAB).
Nickelodeon and NBA Superstar Carmelo Anthony recently declared plans for a partnership to create Turtles by Melo, a brand-new consumer products line inspired by the Teenage Mutant Ninja Turtles hit franchise. A self-professed Turtles super-fan, Anthony would serve as Creative Director of this cross-category, global program spanning lifestyle, home furnishings, publishing, video games, and more. A turtle by Melo is predictable to debut in spring 2016, in advance of the summer theatrical release of Paramount Pictures’ sequel to Teenage Mutant Ninja Turtles, in which Anthony also appears.
In addition to Anthony’s status as a Turtles super-fan and Creative Director of Turtles by Melo, he will make a special guest appearance in next summer’s sequel to Teenage Mutant Ninja Turtles, the follow-up to Paramount Pictures’ blockbuster 2014 hit. The NBA Superstar will also be a featured part of the second annual Nickelodeon Kids’ Choice Sports, live from LA, Thursday, July 16.
Viacom Inc. operates as an entertainment content company in the United States and internationally. The company creates television programs, motion pictures, short-form video, applications, games, consumer products, social media, and other entertainment content.
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