nysefhn
My warning is coming true… “When the going gets tough, you lie”… US banks are more than half a trillion dollars in the red… Banks shortchanged their clients; now they’re paying the price… Trade your dollars for these two assets… Warnings About Bank Failure1. I warned my readers this would happen when Silicon Valley Bank collapsed in March… Now, I’m afraid my prediction is coming true… On May 1, First Republic Bank—America’s 18-largest bank—went under. This was the largest bank failure since the 2008 financial crisis. And it probably won’t be the last. In today’s issue, I’ll show you exactly wh...
ValueWalk
FHN stock is down almost 40% on Thursday as investors react to something that’s been long-expected In what is the least surprising turn of events in North American banking, Toronto-Dominion Bank (TSE:TD) and Tennessee-based First Horizon (NYSE:FHN) have mutually agreed to call off their $13.4 billion transaction. In mid-March, a Fintel article wondered how TD could proceed with the First Horizon deal at the originally agreed-upon price. Today, we have the answer. It can’t. And it will pay First Horizon $225 million for its trouble. Exuding Confidence TD CEO Bharat Masrani had publicly remained...
ValueWalk
Banking industry turmoil that has FHN stock well below the Toronto bank’s offer should prompt reconsideration First Horizon Corp. (NYSE:FHN) closed March 7 at $21.29. As of Wednesday, it’s down 26%, as the banking sector melts down from Silicon Valley Bank (NASDAQ:SIVB) to Credit Suisse Bank (NYSE:CS). Q4 2022 hedge fund letters, conferences and more If TD had to close the deal tomorrow, it would pay 59% more than the current share price for the Memphis, Tennessee-based bank. That would not go over too well with shareholders. So, the question is whether TD should scrap the deal altogether or r...
ValueWalk
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