We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Capital Bank (CBF) Mulls Over Putting Itself Up for Sale
Read MoreHide Full Article
According to a Bloomberg report, Capital Bank Financial Corp. is mulling over putting itself up for sale after receiving an unsolicited approach.
Per the report, the Charlotte, NC-based bank has been in talks with advisers and has started looking for potential buyers.
Following the announcement, shares of the company hit a 52-week high of $44.97 in the day’s trading and closed at $43.70 on Mar 15, gaining nearly 7% from the previous day’s closing.
As of Dec 31, 2016, Capital Bank Financial had approximately $309 million in cash and cash equivalents, $9.9 billion in total assets and $136 million in borrowings.
In our opinion, the company’s solid liquidity position and impressive loan growth make it an attractive acquisition candidate right now. Moreover, any deal involving the acquisition of Capital Bank will provide greater leverage to the existing shareholders of the company. Also, the buyer will gain exposure in the regions of Florida, North and South Carolina, Tennessee, and Virginia, where the U.S. lender has approximately 196 banking offices.
Further, the company’s price performance has been quite encouraging in the last few years. Shares of Capital Bank Financial increased nearly 55.4% in the last two years, outpacing the Zacks categorized Southeast Banks industry’s gain of 49.1%.
Currently, Capital Bank Financial carries a Zacks Rank #2 (Buy).
Some other stocks worth considering in the same space include Fidelity Southern Corporation , Bank of the Ozarks, Inc. and Synovus Financial Corp. (SNV - Free Report) .
Fidelity Southern Corporation witnessed an upward earnings estimate revision of 4.6% for the current year, in the last 60 days. Its share price increased 23.3% in the last six months. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bank of the Ozarks carries a Zacks Rank #2. For the current year, in the last 60 days, its Zacks Consensus Estimate was revised 1.3% upward. Its share price increased 40.7% in the last six months.
Synovus Financial also carries a Zacks Rank #2. It has witnessed an upward earnings estimate revision of 3.2% for the current year, in the last 60 days. Its share price increased 28.1% in the last six months.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Capital Bank (CBF) Mulls Over Putting Itself Up for Sale
According to a Bloomberg report, Capital Bank Financial Corp. is mulling over putting itself up for sale after receiving an unsolicited approach.
Per the report, the Charlotte, NC-based bank has been in talks with advisers and has started looking for potential buyers.
Following the announcement, shares of the company hit a 52-week high of $44.97 in the day’s trading and closed at $43.70 on Mar 15, gaining nearly 7% from the previous day’s closing.
As of Dec 31, 2016, Capital Bank Financial had approximately $309 million in cash and cash equivalents, $9.9 billion in total assets and $136 million in borrowings.
In our opinion, the company’s solid liquidity position and impressive loan growth make it an attractive acquisition candidate right now. Moreover, any deal involving the acquisition of Capital Bank will provide greater leverage to the existing shareholders of the company. Also, the buyer will gain exposure in the regions of Florida, North and South Carolina, Tennessee, and Virginia, where the U.S. lender has approximately 196 banking offices.
Further, the company’s price performance has been quite encouraging in the last few years. Shares of Capital Bank Financial increased nearly 55.4% in the last two years, outpacing the Zacks categorized Southeast Banks industry’s gain of 49.1%.
Currently, Capital Bank Financial carries a Zacks Rank #2 (Buy).
Some other stocks worth considering in the same space include Fidelity Southern Corporation , Bank of the Ozarks, Inc. and Synovus Financial Corp. (SNV - Free Report) .
Fidelity Southern Corporation witnessed an upward earnings estimate revision of 4.6% for the current year, in the last 60 days. Its share price increased 23.3% in the last six months. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Bank of the Ozarks carries a Zacks Rank #2. For the current year, in the last 60 days, its Zacks Consensus Estimate was revised 1.3% upward. Its share price increased 40.7% in the last six months.
Synovus Financial also carries a Zacks Rank #2. It has witnessed an upward earnings estimate revision of 3.2% for the current year, in the last 60 days. Its share price increased 28.1% in the last six months.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>