|
Factoids Yahoo Banks Excite Banks Banking News Bankstocks.com 2007 Updates Oct Sept Aug Jul Jun May Apr Mar Feb Jan 2006 Updates Dec Nov Oct Sept Aug July Jun May Aprl Mar Feb Jan 2005 Updates Dec Nov Oct Sept Aug July Jun May Aprl Mar Feb Jan 2004 Updates Dec Nov Oct Sept Aug July Jun May Aprl Mar Feb Jan 2003 Updates Dec Nov Oct |
Note: On 11-01 MI spun off Metavante Technologies, accounting for most of its drop in price. The EPS estimates have not fallen post spin-off - so the valuation and predictive metrics should be in error, with the exception of the yield. The book value comes from the third quarter ending stats - so it too is not adjusted. To add to the strangeness - the target price for MI rose this month. I do not have a story to justify what is going on with the metrics, the targets, or the share price fall. Synovus Announces Date for TSYS Spin-off PRNewsWire 11-30 Synovus set December 18, 2007 as the record date for the previously announced spin-off to Synovus’ shareholders of the shares of TSYS stock currently owned by Synovus. Synovus currently owns approximately 80.7% of TSYS. The distribution of the approximately 159.6 million TSYS shares owned by Synovus will be made on a pro-rata basis on December 31, 2007 to shareholders of record as of the close of business on the record date. Synovus expects that it would distribute approximately .486 of a share of TSYS for each share of Synovus stock. In connection with the spin-off, TSYS will pay on a pro-rata basis to its shareholders, including Synovus, a one-time special cash dividend of $600 million in the aggregate. TSYS announced today that its Board of Directors has set December 17, 2007 as the record date for this pre-spin special cash dividend. This dividend will also be paid on December 31, 2007 to TSYS shareholders of record as of the close of business on the record date. Pursuant to the agreement and plan of distribution, Synovus will receive approximately $485 million in proceeds from this one-time special cash dividend. MI & Metavante Technologies Complete Separation - Announces Buy-Back PRNewsWire 11-01 / 11-14 Marshall & Ilsley Corporation (MI) and Metavante Technologies (MV) announced that they have completed the separation of Marshall & Ilsley Corporation and Metavante Corporation. As a result of the transaction, Marshall & Ilsley Corporation has separated into two independent publicly-traded companies. New Marshall & Ilsley expects to continue to pay regular quarterly dividends to shareholders of $0.31 per share in accordance with Marshall & Ilsley's previously announced dividend policy; the declaration and amount of any such future dividends, however, will be determined by new Marshall & Ilsley's board of directors and will depend on new Marshall & Ilsley's earnings and any other factors that the board of directors believes are relevant. Marshall & Ilsley Corporation (MI) on 11-13 said it will buy back $114 million of its outstanding shares in an accelerated repurchase agreement. The total number of shares to be repurchased will be based on the adjusted volume-weighted average price of M&I's stock through a contractually specified averaging period expected to conclude by the end of 2007. Ratings & Dividend Changes On 10-31 NAL declared a dividend of $0.65/share to be paid on Nov. 19 to shareholders of record on Nov. 9th. On 11-13 CMA declared a dividend of $0.64/share payable Jan. 1 to shareholders of record as of Dec. 15. On 11-15 FMER declared a dividend of $0.29/share payable Dec. 17 to shareholders of record as of Nov. 26. On 11-20 MTB declared a dividend of $0.70 payable Dec. 31 to shareholders of record as of Dec. 17. On 11-30 SNV declared a dividend of $0.2050/share to be paid on January 2, 2008 to shareholders of record as of the close of business on December 18, 2007. On 11-07 JP Morgan Upgraded MI from Underweight to Neutral. On 11-21 Oppenheimer Upgraded BBT from Sell to Neutral. On 10-24 JP Morgan Upgraded FMER from Underweight to Neutral. On 10-19 MI declared a dividend of $0.31/share payable on December 14, 2007, to shareholders of record at the close of business on November 30, 2007. On 10-18 CRBC declared a dividend of $0.29/share payable on Nov. 15, to shareholders of record on Nov. 1. On 10-19 WL declard a dividend of 33.5/share to be paid Nov. 15 to shareholders of record on Nov. 1. On 10-24 ASBC declared a dividend of 31 cents, payable Nov. 15 to shareholders of record at the close of business on Nov. 6. On 10-24 ONB declared a dividend of $.22/share payable December 17, 2007, to shareholders of record December 3, 2007. Home Page Factoids Previous Update |