The overall rating for the company is 3.1. The metric edged down to 2.87% from 2.88% in the second quarter and fell from 2.96% a year earlier.
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KeyCorp and First Niagara announced a $4.1B acquisition on Friday morning. (NASDAQ:FNFG)’s shares declined -4.24% to $10.38. Actual earnings share as last reported was 0.15.
There have been persistent rumors for more than a month that First Niagara has been for sale.
We’ve also learned that First Niagara Financial Group Incorporated will report its next earnings on January 22, 2016.
Morgan Stanley and KeyBanc Capital Markets are financial advisers to KeyCorp and J.P. Morgan Securities advised First Niagara.
First Niagara Financial Group Incorporated (NASDAQ:FNFG) shares will open today at 14.00 after closing yesterday at 10.84. First Niagara is a community-focused bank known for its strong deposit base, while Key has bolstered its investment-banking business. The Company is a bank holding company.
Laurie Havener Hunsicker is an analyst at Compass Point Research & Trading and commented in a note on October 23 that First Niagara’s shares could be worth approximately $13 per share using a core deposit premium analysis in a takeout scenario.
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US bank deal activity in 2015 hit the highest level since the financial crisis Thursday, when the announcement of New York Community Bancorp Inc.’s purchase of Astoria Financial Corp. brought the volume of deals in the sector to $28.4 billion for the year, according to Dealogic. The Company provides a range of retail and commercial banking, in addition to other financial services through its wholly owned bank partner, First Niagara Bank, N.A. (the Bank). On May 18, 2012, the Bank acquired 137 full-service branches from HSBC Bank United States of America, National Association (HSBC) and its affiliates (the HSBC Branch Acquisition).
