WiseRadar: March 21, 2023.
First Republic Bank ($FRC)
First Republic Bank (FRC) is seeing a lot of bearish activity in the options market. Traders are betting that the stock will continue to decline, as they are buying put options at a higher rate than usual. This suggests that investors are expecting the stock to fall in the near future.
Select Energy Services, Inc. ($WTTR)
Select Energy Services, Inc. (WTTR) has announced a $50 million share repurchase program. The company’s board of directors has authorized the repurchase of up to $50 million of its common stock over the next 12 months. The repurchase program is intended to increase shareholder value.
Western Alliance Bancorporation ($WAL)
Western Alliance Bancorporation (WAL) is a regional bank holding company that is currently facing uncertainty due to the effects of the coronavirus pandemic. The stock has fallen significantly in recent weeks, as the company is struggling to manage the impact of the pandemic on its operations. Despite this, the company remains well-capitalized and is taking steps to ensure its long-term success.
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Woori Financial Group Inc. ($WF)
Woori Financial Group Inc. (WF) has been upgraded by analysts at Benzinga from a “hold” rating to a “buy” rating. This upgrade is based on the company’s strong fundamentals, attractive valuation, and strong dividend yield. WF is well-positioned to benefit from an improving macroeconomic environment and is a good choice for investors looking for a reliable dividend stock.
Veritex Holdings, Inc. ($VBTX)
Veritex Holdings, Inc. (VBTX) is a financial holding company. On Tuesday, its shares were trading lower by over 30%. This was due to the announcement of a public offering of its common stock. The offering is expected to raise $75 million in gross proceeds. Veritex intends to use the proceeds for general corporate purposes.
First Financial Bancorp. ($FFBC)
First Financial Bancorp (FFBC) reported its fourth quarter earnings, with sales of $213.93 million beating the estimated $198.80 million. Net income was $37.90 million, up from $34.37 million in the same quarter of the previous year. The company also reported an increase in its loan portfolio and a decrease in its non-performing assets. Overall, FFBC had a successful fourth quarter.
New York Community Bancorp, Inc. ($NYCB)
Credit Suisse maintained a Neutral rating on New York Community Bancorp, Inc. (NYCB) and raised its price target to $11. The company’s financial performance was strong in 2020, with net income increasing by 7.7% year-over-year. Credit Suisse believes NYCB is well-positioned to benefit from the economic recovery. The stock is expected to remain range-bound in the near-term.
Pinnacle Financial Partners, Inc. ($PNFP)
Pinnacle Financial Partners, Inc. (PNFP) hit a 52-week low on Friday. The company’s stock has been underperforming the S&P 500, and its price-to-earnings ratio is below the industry average. Despite the recent downturn, analysts remain bullish on the stock, citing its strong balance sheet and solid dividend yield.