NEW YORK, August 12, 2016 /PRNewswire/ --
The Money Center Banking industry includes financial institutions, which are involved in activities with national and international governments, large corporations, and regular banks. Stocks under review on Stock-Callers.com this morning are: FirstMerit Corp. (NASDAQ: FMER), Royal Bank of Canada (NYSE: RY), First Republic Bank (NYSE: FRC), and The Bank of Nova Scotia (NYSE: BNS). Register now and get full and free access to our downloadable research reports on these stocks at:
Akron, Ohio headquartered FirstMerit Corp.'s shares gained 0.05%, closing Thursday's trading session at $21.38. The stock recorded a trading volume of 414,474 shares. The Company's shares have advanced 4.19% in the last month and 16.52% since the start of this year. The stock is trading 2.00% above its 50-day moving average and 6.24% above its 200-day moving average. Additionally, shares of FirstMerit, which operates as the bank holding company for FirstMerit Bank N.A. that provides various banking, fiduciary, financial, insurance, and investment services to corporate, institutional, and individual customers in the US, have a Relative Strength Index (RSI) of 56.32.
On July 27th, 2016, Huntington Bancshares Incorporated and FirstMerit announced that, in connection with their proposed merger, FirstMerit Bank, N.A. will sell 13 branches within Stark and Ashtabula counties, with approximately $735 million in total deposits and $115 million in total loans as of May 31st, 2016, to First Commonwealth Bank, the banking subsidiary of First Commonwealth Financial Corporation. Access our complete research report on FMER for free at:
Royal Bank of Canada
On Thursday, shares in Toronto, Canada headquartered Royal Bank of Canada recorded a trading volume of 812,477 shares. The stock rose 1.01%, ending the day at $62.03. The Company's shares have advanced 2.66% in the last month, 4.49% in the previous three months, and 19.58% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 3.11% and 11.56%, respectively. Furthermore, shares of Royal Bank of Canada, which together with its subsidiaries, operates as a diversified financial service company worldwide, have an RSI of 63.23.
On July 12th, 2016, research firm Bank of America/ Merrill resumed its 'Underperform' rating on the Company's stock.
On August 5th, 2016, RBC Global Asset Management, the asset management division of Royal Bank of Canada, announced July mutual fund net sales of $1.0 billion. The company's long-term funds had net sales of $948 million and money market funds had net sales of $69 million in July, 2016. RBC Global Asset Management's assets under management increased by 3.2%. The complimentary research report on RY can be downloaded at:
First Republic Bank
San Francisco, California headquartered First Republic Bank's stock finished the day 0.53% higher at $72.48 and with a total volume of 637,335 shares traded. The Company's shares have gained 1.68% in the last one month, 6.90% over the previous three months, and 10.47% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 3.38% and 8.06%, respectively. Additionally, shares of First Republic Bank, which together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas of the US, have an RSI of 57.64.
On July 25th, 2016, First Republic Bank announced the pricing of $400,000,000 in aggregate principal amount of its Subordinated Notes due 2046. First Republic will pay interest on the Subordinated Notes semi-annually in arrears on February 1st and August 1st of each year, beginning on February 1st, 2017. The Subordinated Notes will bear interest at a rate of 4.375% per annum and, unless previously redeemed, will mature on August 1st, 2046.
Yesterday, research firm Barclays reiterated its 'Overweight' rating on the Company's stock with an increase of the target price from $78 a share to $84 a share. Register for free on Stock-Callers.com and get access to the latest PDF format report on FRC at:
The Bank of Nova Scotia
Shares in Halifax, Canada headquartered The Bank of Nova Scotia ended yesterday's session 0.98% higher at $51.59. The stock recorded a trading volume of 523,319 shares. The Company's shares have advanced 3.08% in the last one month, 6.39% in the previous three months, and 30.50% on an YTD basis. The stock is trading 3.27% above its 50-day moving average and 14.08% above its 200-day moving average. Moreover, shares of Bank of Nova Scotia, which provides various personal, commercial, corporate, and investment banking services in Canada and internationally, have an RSI of 64.96.
On August 8th, 2016, Reuters reported that Bank of Nova Scotia has applied to Taiwan's financial regulator to exit the local market as part of a strategy shift in the Asia Pacific region. Download your free research report on BNS at:
Stock Callers (SC) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. SC has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
SC has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by SC. SC is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
SC, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. SC, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, SC, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither SC nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit
CONTACT For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at: Email: firstname.lastname@example.org Phone number: +44 330 808 3765 Office Address: Clyde Offices, Second Floor, 48 West George Street, Glasgow, U.K. -G2 1BP
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE Chelmsford Park SA