KBW

KBW is out with its report today on Tower Bancorp (NASDAQ: TOBC), raising its PT from $26 to $35. In a note to clients, KBW writes, "In consideration of Susquehanna's intent to acquire Tower, we are raising our target on Tower to $35 (from $26) which links the 3.4696 fixed exchange ratio to our...

KBW is out with its report today on Ocwen Financial (NYSE: OCN), raising its PT to $14. In a note to clients, KBW writes, "We are increasing our 2012 EPS estimate to incorporate Ocwen's acquisition of the Litton portfolio. Our EPS estimate for 2012 increases to $1.75 from $1.44. We expect the...

KBW is out with its report today on Weyerhaeuser (NYSE: WY), initiating WY at Outperform. In a note to clients, KBW writes, "We are initiating coverage of Weyerhaeuser with an Outperform rating. As one of the few remaining fully integrated forest products companies, Weyerhaeuser's earnings are...

KBW is out with its report today on Chubb (NYSE: CB), maintaining Outperform. In a note to clients, KBW writes, "Chubb announced estimated April and May pre-tax catastrophe losses of between $250 and $310 million (9.9 pts & $0.62/share) or 1.2% of 1Q11 equity at the midpoint. The losses were...

KBW is out with its report today on Lender Processing Services (NYSE: LPS), downgrading LPS to Market Perform. In a note to clients, KBW writes, "We are downgrading shares of Lender Processing Services to Market Perform following last night's pre-announcement. In addition, we are lowering our 2011...

KBW has a Market Perform rating and a $59 price target on shares of Capital One Financial (NYSE: COF) after it agreed to buy ING Direct yesterday. Shares of COF gained $1.13 yesterday to close at $49.00, a gain of 2.36%.

KBW had the opportunity to attend investor meetings with Dustin Luton, current CFO of Kaiser Federal Financial Group (NASDAQ: KFFG) and President and COO of Kaiser Federal Bank, and soon to be CEO of the company. “Following these meetings on June 9, 2011, we are reconfirming our Outperform thesis...

KBW spent some time this past week visiting investors with Invesco Ltd. (NYSE: IVZ) CFO Loren Starr, Treasurer Jordan Krugman, and Andrew Schlossberg, Global Head of Distribution and ETFs. “The meetings covered a wide range of topics and some key areas of focus included the ETF business, capital...

After the close on Friday, S&P announced constituent sharecount changes resulting from the 2Q11 rebalance, and all changes are effective after the close on Friday, 6/17, KBW reports. “We estimate the impact of this quarter's share rebalance on the financial constituents of the S&P 500, 400...

KBW is maintaining its Market Perform rating and $17.50 price target on shares of Horace Mann Educators (NYSE: HMN) after it reported earnings. In a note to clients, KBW writes, "HMN announced losses from April and May catastrophes of $45-50 mm pre-tax ($0.70-0.78/sh) or 3.2-3.6% of 1Q11 equity....

KBW has an Outperform rating and a $58 price target on shares of Vail Resorts, Inc. (NYSE: MTN). In a note to clients, KBW writes, "MTN reported 3Q11 operating EPS $0.14 better than our outlook, with upside to our forecast driven by better ticket pricing. MTN's initiation of a $0.15 quarterly...

KBW is upgrading shares of Investment Technology Group (NYSE: ITG) to Market Perform, and it has a $15 price target on shares. In a note to clients, KBW writes, "We upgrade ITG to Market Perform from Underperform. At 3.1X EV-to-EBITDA and P/BV of 0.6X and with the stock down over 30% since the end...

KBW has an Outperform rating and a $23 price target on shares of Forest City Enterprises Inc. (NYSE: FCE-A). In a note to clients, KBW writes, "Forest City reported Q1 just prior to NAREIT conference. We are updating estimates and PT - and reiterate Outperform rating on FCEA post update meeting...

KBW is out with its report today on Jefferies Group (NYSE: JEF), lowering its PT to $28. In a note to clients, KBW writes, "Lowering 2Q11 est. to $0.40 from $0.43 on a higher share count from the equity capital raise in early April that increased our estimates for the avg. diluted share count by...

KBW has an Outperform rating and a $13 price target on shares of Apollo Investment Corp. (NASDAQ: AINV). In a note to clients, KBW writes, "Following AINV's F4Q11 earnings, we are maintaining our F2012 NOI/share estimate of $0.99 and introducing our F2013 NOI/share estimate of $1.06. We are...