Awards, Distributions, M&A's, and Common Stock Pricing by Financial Companies - Research Report on Wells Fargo, U.S. Bancorp, Altisource Residential, KKR, and AmTrust Financial Services
NEW YORK, October 1, 2013 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Today, Investors' Reports announced new research reports highlighting Wells Fargo & Company (NYSE: WFC), U.S. Bancorp (NYSE: USB), Altisource Residential Corporation (NYSE: RESI), Kohlberg Kravis Roberts & Co. (NYSE: KKR), and AmTrust Financial Services, Inc. (NASDAQ: AFSI). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Wells Fargo & Company Research Report
On September 25, 2013, Wells Fargo & Company (Wells Fargo) announced that the Wells Fargo Regional Foundation has received the U.S. Department of Housing and Urban Development (HUD) Secretary's Award for Public-Philanthropic Partnerships. According to the Company, the Wells Fargo Regional Foundation is among the ten nationwide winners who were presented the award by Secretary Shaun Donovan at the Council on Foundations Fall Conference for Community Foundations in San Diego. Commenting on the recognition, Denise McGregor Armbrister, Executive Director of the Wells Fargo Regional Foundation said, "Together with the Department of Community Affairs, the Housing and Community Development Network of NJ, and the dedicated residents of our communities, we have been able to leverage our expertise and resources to truly move the needle on the critical challenges families are facing every day." The Full Research Report on Wells Fargo & Company - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-09-26/WFC]
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U.S. Bancorp Research Report
On September 20, 2013, U.S. Bancorp (U.S. Bancorp) announced that the closed-end funds it advises have declared October distributions. According to the Company, the NYSE listed funds include American Strategic Income Portfolio (NYSE: ASP), $0.06; American Strategic Income Portfolio II (NYSE: BSP), $0.05; American Strategic Income Portfolio III (NYSE: CBP), $0.04; American Select Portfolio (NYSE: SLA), $0.06; American Income Fund (NYSE: MRF), $0.04; and American Municipal Income Portfolio (NYSE: XAA), $0.08. Additionally, the NYSE MKT listed funds include Minnesota Municipal Income Portfolio (NYSEMKT: MXA), $0.07, and Minnesota Municipal Income Fund II (NYSEMKT: MXN), $0.06. The Company reported that the distributions will be allocated on a per-share basis on the common stock, which have an ex-dividend date of October 1, 2013, and will be paid on October 16, 2013, to shareholders of record as of October 3, 2013. The Full Research Report on U.S. Bancorp - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-09-26/USB]
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Altisource Residential Corporation Research Report
On September 25, 2013, Altisource Residential Corporation (Residential) announced the pricing of an underwritten public offering of 15 million shares of its common stock at $21.00 per share. According to the Company, it intends to use the net proceeds from the offering to purchase non-performing and sub-performing residential mortgage loans and for general corporate purposes. Additionally, Residential stated that it has granted the underwriters a 30-day option to purchase up to an additional c.2.19 million shares of common stock in connection with the offering, which is expected to close on October 1, 2013, subject to customary closing conditions. The Full Research Report on Altisource Residential Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-09-26/RESI]
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Kohlberg Kravis Roberts & Co. Research Report
On September 24, 2013, Kohlberg Kravis Roberts & Co. (KKR) reported the merger between ReSearch Pharmaceutical Services (RPS) and PRA International (PRA) has been completed, a transaction that also closed the acquisition of the merged entity by KKR. As a first step of this complete transaction, KKR had first announced the acquisition of PRA on June 24, 2013, followed by the July 31, 2013 announcement to acquire RPS and the plan to merge the two contract research organizations (CROs). According to KKR, the combination of both companies creates the fourth largest CRO, which offers an enhanced array of services and capabilities to support its clients. KKR informed that RPS will operate as PRA's Strategic Solutions Division, and the combined enterprise will be led by PRA's President and CEO Colin Shannon. Shannon said, "As we join forces with the team at RPS, this begins a new chapter for both organizations. We have a supportive long-term partner in KKR and the combination with RPS makes PRA a stronger organization, offering our customers a more comprehensive range of services through our expanded capabilities and therapeutic expertise." The Full Research Report on Kohlberg Kravis Roberts & Co. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-09-26/KKR]
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AmTrust Financial Services, Inc. Research Report
On September 18, 2013, AmTrust Financial Services, Inc. (AmTrust Financial Services) announced that it has entered into a definitive agreement to acquire The Insco Dico Group for approximately $85 million or $7.0 million above its tangible book value. The Company stated that the acquisition is to be funded through existing working capital and is expected to close within the next six months pending regulatory approval. Barry Zyskind, President and CEO of AmTrust Financial Services said, "Insco Dico significantly enhances the Company's presence in the domestic surety insurance market and expands our operations with new insurance products, additional distribution and unique industry expertise. In addition, we believe the improving trends in the economy and housing market will increase demand for Insco Dico's surety insurance." The Full Research Report on AmTrust Financial Services, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.investorsreports.com/report/2013-09-26/AFSI]
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