SAN FRANCISCO - Hancock Institutional Equity Services analyst James
Mr. Marks said the bank is undervalued. With a current price- earnings
The buy rating incorporates an estimate of 15% earnings growth for 1996.
Mr. Marks' estimate did not include any benefit from the announced in-
The bank, the fourth-largest commercial bank in California, is a double
In its announcement regarding the merger, Union Bank said it planned to
Mr. Marks set a 12-month target price of $60 per share, but he said the
Should the all-stock transaction close as planned later this year, Wintrust Financial in the Chicago area would gain about $2.7 billion of assets.
The Arkansas Republican is currently the vice chairman of the House Financial Services Committee and has a deep background in the banking industry and policy.
The Buffalo, New York-based bank set a goal four years ago to limit its commercial real estate loan portfolio to 160% of its capital and reserves, and it's closing in on that target, says Chief Financial Officer Daryl Bible.
Democratic Sens. Elizabeth Warren, Mass., and Sheldon Whitehouse, R.I., decried the U.S. Chamber of Commerce's suit against the Consumer Financial Protection Bureau's credit card late fee rule, saying the suit is an example of the kinds of frivolous litigation it opposes elsewhere.
The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.
In an ongoing case, Citi and the New York attorney general are disputing who is responsible for wire transfer fraud that drained a customer's retirement savings.
