On Friday, Shares of First Republic Bank (NYSE:FRC), surged 0.72% to $58.89.
First Republic Bank, declared financial results for the quarter ended March 31, 2015.
The Bank declared a raise in its quarterly cash dividend for the first quarter to $0.15 per share of common stock, which is payable on May 14, 2015 to shareholders of record as of April 30, 2015.
The Bank’s credit quality remains very strong. Nonperforming assets were 10 basis points of total assets.
Net charge-offs were only $13,000 for the quarter.
During the first quarter, the Bank sold 3.5 million shares of new common stock, which added about $203 million to common equity.
Book value per common share was $29.45 at March 31, 2015, up 12.4% from a year ago.
First Republic Bank, together with its auxiliaries, provides private banking, private business banking, real estate lending, and wealth administration services to clients in metropolitan areas of the United States. It operates through two segments, Commercial Banking and Wealth Administration.
Shares of TransCanada Corp. (NYSE:TRP), gained 0.63% to $46.13, during its last trading session.
TransCanada, declared that the National Energy Board (NEB) has issued its report recommending the federal government approve the company’s projected $1.7 billion North Montney Mainline Project.
The projected North Montney Mainline Project will provide substantial new capacity on the NGTL System to meet the transportation requirements associated with rapidly increasing development of natural gas resources in the Montney supply basin in northeastern B.C. The Project will connect Montney and other Western Canadian Sedimentary Basin supply to both existing and new natural gas markets, notably emerging markets for LNG, and will generate long-term economic opportunities for B.C. and its northern communities.
The NEB also approved the applied-for rolled-in tolling design for the project costs during a transition period, subject to certain conditions which TransCanada is reviewing. Following the transition period, TransCanada will have the option of applying to the Board for a revised tolling methodology, or will have the option of implementing stand-alone tolling on the Project. TransCanada will engage its shippers to determine an appropriate approach that best meets market requirements.
The Project will comprise of two large diameter, 42 inch pipeline sections, Aitken Creek and Kahta, totaling about 301 kilometres (187 miles) in length, and associated metering facilities, valve sites and compression facilities. The Project will also comprise an interconnection with TransCanada’s projected Prince Rupert Gas Transmission Project to provide natural gas supply to the projected Pacific NorthWest (PNW) LNG liquefaction and export facility near Prince Rupert, B.C. Subject to certain conditions, NGTL anticipates to have the Aitken Creek Section in service in 2016, and the Kahta Section in service in 2017.
The initial capacity of the North Montney Mainline will allow the shipment of about 2.4 billion cubic feet/day (bcf/d) of natural gas. Progress Energy Canada Ltd., a partner of the Malaysian integrated energy company, PETRONAS, has contracted for 2.0 bcf/d of firm receipt service and 2.1 bcf/d of firm delivery service. Other producers have signed contracts for 78 million cubic feet/day, and NGTL is also ongoing discussions with other parties that have expressed interest in obtaining transportation services that would utilize the North Montney Mainline facilities.
TransCanada Corporation operates as an energy infrastructure company in North America. The company operates in three segments: Natural Gas Pipelines, Liquids Pipelines, and Energy.
At the end of Friday’s trade, Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT), gained 0.63% to $27.23.
The Goodyear Tire & Rubber Company, will report first quarter 2015 financial results on Wednesday, April 29, to be followed by an investor conference call at 9 a.m.
Participating in the conference call will be Richard J. Kramer, chairman and chief executive officer, and Laura K. Thompson, executive vice president and chief financial officer.
The Goodyear Tire & Rubber Company develops, manufactures, distributes, and sells tires, and related products and services in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific.
Finally, Reynolds American Inc. (NYSE:RAI), ended its last trade with 0.62% gain, and closed at $74.70.
Reynolds American, topped analysts’ first quarter earnings expectations. The Camel and Pall Mall parent company said that raised cigarette prices assisted its bottom line during the period, with the company reporting a 7.2% rise in net income to $389 million from $363 million during the same quarter last year. The company earned 86 cents per share during the period, ahead of the 67 cents per share it earned a year earlier, and better than the 79 cent per share analyst consensus.
Revenues for the period raised 6.3% over the previous year to $2.06 billion, topping analysts’ forecast of $1.98 billion in revenue.
Reynolds American Inc., through its auxiliaries, manufactures and sells cigarettes and other tobacco products in the United States. It operates through RJR Tobacco, American Snuff, and Santa Fe segments.
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