Under the terms of the merger agreement, which has been approved by the board of directors of each company, shareholders of Yadkin will be entitled to receive 2.16 shares of FNB common stock for each common share of Yadkin*. (NYSE:YDKN) traded up 1.60% during trading on Friday, hitting $25.40. Gabelli cut shares of Yadkin Financial Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, May 26th.
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The number of shares Yadkin Financial Corp now has in issue is 51,495,000, which have a value of 24.77 per share calculating Yadkin Financial Corp’s market capitalisation to 1.28B United States dollars.
Yadkin Financial Corp. (NYSE:YDKN) last posted its quarterly earnings results on Thursday, July 21st.
The stock’s price moved down its 200-day moving average of $21.45. The 52-week price range is $18.13-$28.23 and the company has a market capitalization of $1.29 billion.
“We are pleased to report the Company achieved record net income and net operating earnings in the second quarter of 2016”, announced Scott Custer, Yadkin’s CEO. Yadkin’s stock closed Wednesday at $25.95.
Separately, TheStreet Ratings rated this stock as a “buy” with a ratings score of B+. The company presently has an average rating of “Hold” and an average price target of $13.80.
A number of institutional investors have added to or reduced their stakes in YDKN. The company has experienced volume of 12.04FM shares while on average the company has a capacity of trading 1.32M shares. W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in Yadkin Financial Corp. during the second quarter worth $1,305,000. Susquehanna International Group LLP now owns 188,866 shares of the company’s stock valued at $2,519,000 after buying an additional 9,767 shares during the period. The Company conducts its business operations through its subsidiary, Yadkin Bank, which is a chartered community bank that provides services in approximately 110 branches across North Carolina and SC. Yadkin Bank’s primary business is providing banking mortgage investment and insurance services to businesses and consumers across the Carolinas.
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After the completion of the merger, Yadkin Financial unit, Yadkin Bank will merge with Yadkin Financial’s unit, First National Bank of Pennsylvania.
