Stocks Turn Active on Retreated Views: First Republic Bank (NYSE:FRC), Halliburton (NYSE:HAL)

First Republic Bank (NYSE:FRC) [Trend Analysis] plunged reacts as active mover, shares a loss -1.88% to traded at $95.14 and the percentage gap between open changing to regular change was -1.13%. First Republic Bank (FRC) reported that pricing of an underwritten public offering of 2,500,000 shares of its common stock for expected gross proceeds of approximately $237.5 million before underwriting discounts and commissions and estimated offering expenses.

First Republic has also granted the underwriters a 30-day option to purchase up to an additional 375,000 shares from First Republic. BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and UBS Investment Bank are serving as joint bookrunning managers. The last declared sale price of its common stock on March 6, 2017 was $96.96 per share.

The underwriters propose to offer the shares of common stock for sale from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by them and subject to their right to reject any order in whole or in part.

The firm past twelve months price to sales ratio was 7.33 and price to cash ratio remained 4.49. As far as the returns are concern, the return on equity was recorded as 11.50% and return on investment was 24.60% while its return on asset stayed at 0.90%. The firm has total debt to equity ratio measured as 0.14.

Halliburton Company (NYSE:HAL) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it -1.54% to close at $52.97 with the total traded volume of 7.24 Million shares. Halliburton Co. (HAL) reported that its Chief Financial Officer Mark McCollum is leaving the Company effective immediately to become Chief Executive Officer at Weatherford International plc (WFT).

Halliburton Executive Vice President and General Counsel, Robb Voyles, has been named interim CFO and will manage the CFO responsibilities in addition to his current responsibilities until a replacement is found.Halliburton noted that it has engaged an executive search firm to conduct a comprehensive search for its next CFO. The company also reported the promotion of Lyn Beaty to senior vice president of Finance effective immediately.

Voyles joined Halliburton in 2013 and is a member of the Halliburton Executive Committee. Before joining Halliburton, he was a Senior Partner at Baker Botts L.L.P. where he served as Chair of the Litigation Department and a member of the Executive Committee. The firm has institutional ownership of 82.20%, while insider ownership included 0.30%. Its price to sales ratio ended at 2.89. HAL attains analyst recommendation of 1.70 with week’s performance of -0.92%.

 

About Aaron Smithies

Aaron Smithies has a wide look on current monetary and financial events. He is an editor and a writer. His views; At Streetwise Report, we think the best opportunities arise from a complete understanding of all investing disciplines in order to identify the most attractive stocks at any given time. Interests: Biotech, Finical markets, Dividend stock ideas & income, Energy stocks, Consumer goods stocks

Leave a Reply

Your email address will not be published. Required fields are marked *